Wirex Debuts Mastercard Debit Card For Crypto And Traditional Currency

Digital payments service Wirex has launched a multicurrency Mastercard debit card in the U.K. and EEA, along with a new reward program, a press release says.

The new reward program, Wirex X-tras, its an extension of the company rewards scheme, allowing a new subscription upgrade in which users can access X-tras including up to 2 percent Cryptoback on any in-store or online purchase made through the Wirex card. Also, for a limited time, there will be up to 12 percent savings bonus on the WXT account balance.

The new announcements come as Wirex has reached 75,000 people on the waitlist for the card. The new features are aimed at helping cryptocurrency broaden its appeal for everyone.

Wirex has around 3.5 million customers and has made headlines for being Mastercard’s first crypto-native service.

The new Mastercard debit card will enhance the partnership, making users’ lives more borderless, letting them spend up to 18 crypto and traditional currencies in real time, the release says. As a Mastercard premium member, Wirex is able to issue cards directly to customers, which has let it allow people to buy and hold multiple traditional and cryptocurrencies. Consumers are able to convert their cryptos into traditional fiat currency as well. These can be spent anywhere Mastercard has a presence.

Pavel Matveev, co-founder and CEO of Wirex, said it was the company’s goal to “to continue developing a next-generation product that will bring crypto further into the mainstream, and the launch of the debit card and X-tras rewards scheme will make this a reality.”

“The huge range of benefits that come with it will appeal to everyone from crypto-enthusiasts to frequent travelers and the financially savvy, and will be a great alternative to traditional banks,” he said, according to the release.

Last summer, Mastercard announced the expansion of its cryptocurrency partner program, which aimed to help providers issue safer crypto-wallet cards for customers.