Crypto payments platform Wirex announced it has received its first money transmission license in the United States, issued by the Georgia Department of Banking and Finance on July 30, 2020. The license authorizes Wirex USA to conduct cryptocurrency exchange business within the state, paving the way for the company's long-anticipated expansion into the American market.
Launch Preparations
Wirex revealed that it is gearing up to launch its “next-generation cryptocurrency platform linked to a spending card” in the U.S. Harold Montgomery, Managing Director of Wirex USA, stated: “The license in the state of Georgia is the first success in Wirex’s approach to providing fully compliant cryptocurrency management capabilities in the hands of its customers.” The company confirmed plans to roll out services in the United States in the coming months.
Global Reach and User Base
Headquartered in the United Kingdom, Wirex currently serves over 3 million customers across 130 countries. Its payment card is accepted at more than 54 million Visa merchant locations worldwide. In Europe, Wirex is regulated by the UK’s Financial Conduct Authority (FCA) and holds a license to issue cards in the region.
Supported Assets and Rewards
The platform supports 19 cryptocurrencies as well as multiple fiat currency wallets, including BTC, ETH, LTC, XRP, WXT, DAI, NANO, XLM, and fiat currencies such as USD, EUR, GBP, and more. Wirex also offers Cryptoback, a crypto rewards program that automatically gives customers up to 1.5% back in bitcoin for every purchase made in-store.
Mastercard Principal Membership
Last month, Wirex became the first cryptocurrency-native platform to secure a Mastercard principal membership. This membership enables Wirex to issue payment cards directly, offering enhanced convenience, reduced costs, and faster transactions on a platform striving to make all currencies equal.
The company’s compliant expansion into the U.S. market marks a significant milestone for the cryptocurrency payments industry. With the Georgia license secured, Wirex is poised to bring its crypto-linked spending card to American consumers, further bridging the gap between digital assets and everyday commerce.