Wirex, a prominent cryptocurrency payments provider, has partnered with Novatti, a card issuer, to provide Australians with multi-currency cards. This collaboration, according to Wirex, could potentially enable over 20 million individuals to utilize their advanced multi-currency cards for everyday activities.
Wirex created the world’s first crypto-enabled payment card in 2015, and it allowed users to spend both fiat and cryptocurrencies in real life. Wirex’s Visa debit card has over five million users globally and is accepted at an estimated 80 million locations. The cardholders can buy, store, exchange, and trade over 12 fiat currencies and 130 cryptocurrencies.
Thanks to their partnership with Novatti, Wirex can now directly provide these cards to Australian customers. Users can benefit from higher card spending limits, the ability to earn up to 8% instant rewards, and exemption from FX or maintenance fees. However, users must pass rigorous KYC checks, and all transactions and procedures must comply with stringent anti-money laundering (AML) regulations.
Wirex achieved significant success in the United Kingdom and the European Economic Area (EEA) before expanding to Asia Pacific (APAC) in 2019, which has emerged as their fastest-growing market. Riding on this momentum, Wirex is expanding even further into Australia, which has one of the world’s highest rates of cryptocurrency adoption. According to Wirex, Australia has become an important market, and they seek to use Novatti collaboration to bridge the gap between traditional and digital economies.
Svyatoslav Garal, Managing Director of APAC at Wirex, stated:
“As we grow our operations in Australia, we’ve strategically chosen to partner with a trusted Australian headquartered company, Novatti, to issue cards.”
Garal stated that expanding Wirex’s product offerings would enable more consumers to reap the benefits of innovative payment methods.
Mark Healy, Executive General Manager of Payments at Novatti, stated that collaborating with a leading payments provider such as Wirex demonstrates Novatti’s proficiency in card issuance and creates opportunities for both companies to collaborate on innovative solutions. Healy expressed enthusiasm about working with Wirex to achieve their objectives, especially as alternative payment methods are becoming increasingly popular in Australia.
Last month, Wirex formed a strategic, long-term global partnership with payment giant Visa, enabling it to issue debit and prepaid cards that can facilitate cryptocurrency transactions across over 40 nations in the Asia Pacific (APAC) region and the United Kingdom.
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