UK-based digital payment platform
Wirex has announced the expansion of its partnership with
Visa, aiming to increase the use of digital currencies in the UK and the EEA.
In a bid to promote the use of digital currencies across these regions, Wirex and Visa plan to discover additional opportunities to utilise and integrate the latter’s cards and optimise payment experiences. By merging their features, the two firms intend to deliver consumers with advanced capabilities through Visa’s payment network and Wirex’s product advancements. In addition, as part of the current news, Visa and Wirex announced the launch of Wirex Pay, a modular Zero Knowledge (ZK) payment chain developed by Wirex.
When it comes to Wirex Pay, the solution was designed to advance how customers manage and spend crypto and traditional currencies, with it focusing on simplifying transactions by providing an optimised method to handle funds. Also, Wirex Pay highlights the abilities of fintech by providing improved transactions between blockchain technology and traditional finance.
What’s on the agenda for Visa and Wirex?
With a commitment to creating projects that integrate blockchain technology with traditional financial systems, Visa and Wirex aim to deliver a simplified, efficient, and convenient transaction experience for users. To support this mission, Visa is set to assist Wirex in expanding its service in existing markets via increased marketing efforts, utilising Visa assets and features. According to Wirex’s officials, considering the current environment, where the financial ecosystem is moving towards Web3 and decentralisation, the need for optimised solutions for global funds movement remains significantly important.
Moreover, representatives from Visa highlighted that the expansion of their company’s collaboration with Wirex to support the integration of blockchain technology with traditional finance aligns with its allegiance to advance payments. In addition, the move underlines the potential capabilities that partnerships in the financial sector can have in advancing fintech innovation. By being a principal member of Visa and Mastercard, Wirex focuses on embracing evolving trends of Web3 to offer mainstream access to digital finance and wealth management.
