Contis, a payment processing platform announced its official partnership with bitcoin wallet application Wirex this week that will power Europe’s only card provider of cryptocurrency payments and bitcoin-based financial products.
This month, Wirex will begin to utilize the Contis white label product Canvas to offer multi-currency accounts to its customers, allowing them to spend cash converted from cryptocurrencies on everyday purchases.
The companies confirmed a three-year agreement and also marks Contis’ entry into the cryptocurrency market that will see Wirex issue cards that support GBP, EUR, and USD. Virtual cards will go live on March 20th with physical cards set to be launched by mid-May.
The partnership follows on the heels of the launch of Contis’ Buffer Account, and further demonstrates the business’ power to drive structural change within the payments ecosystem through the innovative use of its legacy-free banking and payments platform and its ability to process real-time transactions on both UK and SEPA payment ‘rails’.
Commenting on the launch Flavia Alzetta, Contis’ Chief Executive Officer, said:
“The cryptocurrency market is rapidly disrupting traditional financial systems and it’s no surprise that the power of our platform is further accelerating this. We’re delighted to partner with Wirex in a move that has the potential to reshape the payments ecosystem. Contis’ entry into the cryptocurrencies sector is a bold but fitting one, putting us at the coalface of disruption and showcasing the strength of our white label solution, Canvas. It is a clear demonstration of our ability to leverage our platform to develop bespoke solutions that power financial services innovation.”
Pavel Matveev, Wirex’s CEO said:
“Our decision to partner with Contis was based on our absolute confidence in them being the best at what they do. Their technology and easy-to-use platform mean our customers will benefit from a reliable and hassle-free, state-of-the-art solution, that others are years-away from delivering.”