Wirex, a bitcoin and crypto wallet service announced today a new partnership with payments processing technology provider i2c to launch a cryptocurrency-backed prepaid card in the United States. The new card will allow American users to instantly convert their Bitcoin, XRP, Ethereum or Litecoin to spend in stores, bars, and restaurants, transport, online or withdraw from ATMs.
The partnership will seek to expand upon the existing Wirex Visa card program in the EU, where it is one of a few companies to have a fully-functioning card that allows direct spending of crypto on a card. The company also recently became a licensed e-money institution under UK laws and regulation.
“Our mission is to bridge the gap between traditional money and cryptocurrencies, so our clients can use their digital money for everyday purchases. Our data shows that cryptocurrency adoption is increasing in retail environments. Somewhat surprisingly, McDonald’s takes the top spot when it comes to spending on the Wirex cards amongst European users, followed by major grocery stores. The relationship with i2c, will enable Wirex to be the first crypto-friendly payment platform to offer this innovative service in the US.”
The Wirex prepaid card leverages i2c’s payments processing platform, which allows card issuers to quickly create and scale high-value payment and digital commerce solutions on a single global SaaS platform with industry-leading reliability and security. i2c’s payments processing technology supports advanced payment features and functionality such as multi-currency and multi-purse technology. It also offers card controls that give cardholders more options when implementing budgets, spending controls, and advanced real-time alerts.
“Industry-leading technology allows innovators in payments to rapidly launch solutions that meet the ever-evolving needs of today’s consumers. At the heart of successful innovation and growth in payments are ideas that take the industry in new directions. A flexible technology infrastructure to support new business models, and strong partnerships are key factors in the payments ecosystem. We are proud to team-up with Wirex to launch a unique card product that offers convenience, security, and a great user experience.”