Wirex has launched what it called a comprehensive product overhaul and new card.
The overhaul included five new currencies and free foreign exchange. The new Wirex Mastercard card is set for the off, along with an upgraded rewards programme.
The product update was recently made available to Wirex users in the European Economic Area (EEA), in line with a close partnership with payment solution company LHV.
A range of features are now live, including five new currencies – HRK, CZK, PLN, RON, HUF), free multicurrency individual IBANs and free SEPA multi currency transfers, and SEPA instant for EUR transfers. Foreign exchange fees, or currency conversion fees when topping-up with a local currency card, have been removed.
Wirex hopes its multi currency Wirex Card, supported by Mastercard, will be a competition-killer with the potential to set a new standard in the FinTech and crypto payments space.
Linked to 19 secure crypto and traditional currency accounts in the Wirex app, it allows cardholders to seamlessly spend multiple fiat and cryptocurrencies in day-to-day life without exchanging or offboarding. The company believes that these game-changing features, combined with sky-high limits and next-to-no fees, gives the new Wirex Mastercard a significant advantage over its competitors.
To complete the product overhaul, Wirex has also announced a significant upgrade to its rewards programme. The new offering includes up to 2% Cryptoback™ rewards for all Wirex card spending (online and in-store) and up to 6% rewards on customers’ WXT balance annually.
“As a company, we have always believed that Wirex will play a pivotal role in the mass adoption of digital currencies and the inevitable shift from a fiat to a token-based economy; the new product confirms this. While other platforms creep towards mainstream adoption through iterative updates and improvements, Wirex makes the everyday use of digital currencies mainstream now,” said Wirex CEO and co-founder Pavel Matveev.
Wirex has had a busy few years, including a successful expansion into the vast APAC market, the release of its native Wirex Token (WXT) and office openings in Tokyo, Singapore, Atlanta, Dallas, Toronto and Dublin.
During this period, Wirex also acquired local licences in Singapore, Japan and the USA.