Wirex, one of the world’s leading cryptocurrency linked debit card providers, has now started issuing hybrid virtual debit cards in the United Kingdom with operations in the European Union slated to begin later this March. The virtual card allows users to spend either Bitcoins or GBP (Great Britain Pound) from their hybrid accounts which can store both currencies. It’s even possible to pay in Bitcoins to services that don’t accept cryptocurrencies, thanks to the instant crypto to fiat conversion feature offered by Wirex. You can also buy Bitcoin using fiat money and sell or transfer Bitcoin from your account.
While only virtual cards are available now, the company is in the process of manufacturing physical cards that can also be used to make contactless payments using a RFID (Radio Frequency Identification) reader. The RFID reader detects radio waves emitted by your contactless card and processes the transaction as soon as the card is brought near the reader. Say bye to scratching cards.
The Visa powered cards only support GBP (Great Britain Pounds) now though Wirex has promised US and Euro Dollars will be added soon. The company’s CEO Pavel Matveev stated that using Bitcoin to shop and withdraw funds from ATM will become much easier with the launch of the hybrid cards.Wirex has also revealed plans to expand services to Japan and other markets in Southeast Asia.
It is notable that while Wirex is introducing hybrid crypto-fiat debit cards powered by Visa, another major crypto debit card issuer WaveCrest was forced to shut down this January after Visa terminated support citing guideline violations. Following WaveCrest’s shutdown, Wirex is now one of the last providers of crypto debit card services in Europe.
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