Wirex, previously known as a crypto debit card company, is shifting away from its retail business and moving into stablecoin banking-as-a-service, according to Forbes. The company is now offering infrastructure for businesses, including stablecoin cards, bank accounts and cashback features. Forbes also reported that Wirex is a principal member of both Visa and Mastercard, a status that allows it to issue cards directly without going through a sponsor bank. The move points to a change in Wirex’s business focus, from consumer-facing services to infrastructure for enterprise clients.
Wirex, previously a crypto debit card company, is moving from its retail business to stablecoin banking-as-a-service, according to Forbes.
The company is providing businesses with infrastructure including stablecoin cards, bank accounts and cashback. Forbes also said Wirex is a principal member of Visa and Mastercard, allowing it to issue cards directly without relying on a sponsor bank.
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