Wirex has partnered with payments processing technology firm i2c to launch a new multiple cryptocurrency-backed prepaid card in the US.
Furthermore, cardholders will be able to instantly convert their digital currencies for in-store or online transactions. Cryptocurrencies such as Bitcoin, XRP, Ethereum or Litecoin will be available to convert. The new product also allows cash withdrawal at ATMs.
The Wirex crypto prepaid card, which is already available for use in the European Union (EU), can be availed at all Visa-accepting merchants.
The card will work on i2c’s payments processing platform. Furthermore, this technology enables card issuers to quickly generate and scale payment and digital commerce solutions on a single global SaaS platform.
In addition, the i2c platform will feature advanced payment features and functionality, including multi-currency technology and card controls.
Wirex North America CEO Vroon Modgill said: “Our mission is to bridge the gap between traditional money and cryptocurrencies. Our clients can use their digital money for everyday purchases. Our data shows that cryptocurrency adoption is increasing in retail environments.
“The relationship with i2c, will enable Wirex to be the first crypto-friendly payment platform to offer this innovative service in the US.”
Furthermore, i2c executive vice-president of global sales and marketing Joe DeRosa said: “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. It offers convenience, security, and a great user experience.”