Bitcoin wallet app Wirex secures $3 million in funding from SBI Group

Wirex, a bitcoin wallet platform today announced the completion of $3 million in Series A funding obtained from the SBI Group, the Japanese financial services firm.

The company plans to inject the capital into the development of new features, licensing and security, as well as to support expansion plans. The Wirex hybrid banking platform currently offers pre-paid virtual and plastic cards that can be topped up with both fiat and cryptocurrencies.

New features in the works include contactless bitcoin payments, contactless cards, additional currencies, and new Bitcoin-based financial products. Wirex Limited will also continue to invest in platform security and stability, and improving user experience.

Pavel Matveev, Founder of Wirex

Pavel Matveev, co-founder of Wirex Limited said:

“Japan is a key market for bitcoin-compatible financial products and services, and one of our fastest-growing customer base. We are delighted to have this strategic partnership with the SBI Group. Together we can push bitcoin adoption in the Asia-Pacific region to the next level.”

Japan is widely regarded as one of the forerunners in cryptocurrency adoption, usage, and regulations. In 2015, the SBI Group, established the FinTech Fund to invest in promising FinTech-related companies and technologies.

Co-founder of Wirex Limited Dmitry Lazarichev also commented:

“The SBI Group has a clear vision and in-depth understanding of blockchain and cryptocurrencies. We have been selective in the process of looking for the right investor, and finding the best possible fit is important for us. Our customers will greatly benefit from this collaboration.”

Wirex serves over 500,000 customers in more than 130 countries and is in the process of obtaining an e-money license in the United Kingdom. The company has offices in London, Tokyo, and Kiev and boasts on average 23% month-over-month growth rate.