Join Our Mailing List
Sunday June 04, 2023
Bitcoin (BTC) $27,271.31   Ethereum (ETH) $1,908.29
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Crypto Payments

Wirex to add yen support as Japan set to rule bitcoin an official form of payment

Published by CryptoNinjas.net
03/30/2017

Ahead of bitcoin’s recognition as an official form of payment in Japan from Saturday, Wirex, the blockchain personal finance platform, has unveiled new measures to ensure Japanese citizens and customers worldwide can fully benefit from cryptocurrency liberalization in the country.

Wirex provides pre-paid virtual and plastic cards, which can be topped up with both traditional and blockchain currencies such as bitcoin, allowing for instant exchange between conventional cash and digital money.

Co-founder, Pavel Matveev of Wirex said:

“Japan has fired a starting pistol in terms of cryptocurrency adoption. The new rules mean that bitcoin is now an official payment form in the country and this may spark a significant boost to the economy. Japan’s recognition of consumers’ appetite for cryptocurrency payments is an important development and provides other governments with food for thought if they wish to compete in an increasingly globalized and digital world.”

“Bitcoin does face certain challenges such as negative perceptions stemming from past instances of hacking and other illegality. The Japanese financial system will also face a steep learning curve regarding how to report bitcoins in accounts, for example.”

Pavel Matveev, CEO at Wirex

“At the same time bitcoin is rapidly integrating such challenges and is increasingly becoming more robust, as Japan’s official recognition of the cryptocurrency suggests. Integration into the financial system means companies can now more easily develop products and services.”

Wirex cards enable payments in US dollars, pounds sterling, and euros, in addition to bitcoin. Due to the recognition of bitcoin as legal tender in Japan, Wirex said that Japanese yen will be integrated into the platform imminently.

Coinciding with Japan’s move to formalize bitcoin payments, Wirex just this week enhanced its offering to provide exchange between bitcoin and USD/GBP/EUR all within its upgraded app as well as online, to offer greater flexibility and customer choice.

Earlier this month, Wirex announced it received a $3 million investment from Japanese institutional investor, SBI Group, which is part of the R3 consortium and runs Japan’s biggest fintech venture capital fund. SBI is a major investor in fintech firm, Ripple, while Wirex is one of only two UK companies to ever receive funding from a Japanese venture capital fund.

29
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Crypto payment app Wirex rolls out USA offering

02/08/2022
Crypto payment app Wirex rolls out USA offering

The team of Wirex, a crypto payment platform with wallet and debit card, announced today that Wirex has launched in the USA. Wirex USA offers the ability to buy, hold, exchange, and sell US...

Read more

Wirex granted a Mastercard principal membership, can now directly issue crypto payment cards

07/20/2020
Wirex granted a Mastercard principal membership, can now directly issue crypto payment cards

Consumer interest and investment in digital currencies are growing, with research showing that up to 20 percent of the population of some countries are holding cryptocurrencies, and an increasing number of merchants, digital players,...

Read more

Wirex launches next-gen bitcoin-enabled Visa card for APAC region

11/11/2019
Wirex launches next-gen bitcoin-enabled Visa card for APAC region

Wirex, a crypto payment wallet and service company, has announced the launch of a brand new next-generation Wirex Visa Travelcard. The travel card will empower customers across the APAC region to spend multiple crypto...

Read more

Stellar lumens (XLM) now supported on crypto wallet platform Wirex

04/25/2019
Stellar lumens (XLM) now supported on crypto wallet platform Wirex

Wirex, a bitcoin and crypto wallet and payment ecosystem, has announced integration and support of Stellar lumens (XLM) on the platform. This brings the company's crypto token support to nine overall. The release of...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
Token.io launches new spin-out company focused on digital money solutions

Token.io launches new spin-out company focused on digital money solutions

12/10/2019
Quant Network blockchain integrates Constellation for IoT interoperability

Quant Network blockchain integrates Constellation for IoT interoperability

12/03/2019
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
CoinFlip launches new self-custodial cryptocurrency wallet platform 'Olliv'

CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’

04/28/2023
Crypto exchange Deribit to launch zero-fee spot trading

Crypto derivatives exchange Deribit to launch zero-fee spot trading

04/20/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy