News
Wirex and Visa Integrate Blockchain Technology with Traditional Finance in Latest Partnership
Wirea Web3 app for money, is collaborating with the digital payments giant Visa to promote the use of digital currencies in the UK and the European Economic Area (EEA).
As part of the partnership, Wirex will also launch Wirex Pay, a new modular Zero Knowledge (ZK) payment chain designed to change the way users manage and spend fiat and cryptocurrencies.
The new product aims to simplify transactions by offering a seamless way to manage funds. It showcases fintech innovation by enabling seamless transactions between blockchain technology and traditional finance.
Sviatoslav GaralGlobal Head of Payments at Wirex, commented: “Being among the few crypto-native companies authorised by Visa to issue cards, and notably the first major member of the Visa Network in Europe, underlines Wirex’s pioneering role in the financial sector.
“As the financial world boldly moves towards Web3 and decentralization, the need for robust solutions for the global movement of funds remains essential. Key ecosystem players like Visa play a critical role in this shift. Wirex, a renowned innovator in both Web3 and traditional finance, is excited to partner with Visa to bridge the gap between these two spaces.”
This collaboration between Wirex and Visa will explore new opportunities to leverage and integrate Visa cards and reduce friction in payment experiences.
Visa and Wirex explained that they are committed to developing projects that integrate blockchain technology with traditional financial systems, ensuring seamless and efficient transactions. As such, Visa will support Wirex’s growth in existing markets through enhanced marketing efforts, leveraging Visa’s resources and capabilities.
“Partnering with Wirex to help integrate Blockchain technology with traditional finance, including the launch of Wirex Pay, closely aligns with our vision for the future of payments, while highlighting the importance of collaboration in driving fintech innovation,” he concluded Cui SheffieldHead of Cryptocurrency at Visa.