Through this partnership, Wirex will be able to leverage Novatti’s capabilities and issue cards directly to users in Australia. These users will benefit from up to 8% instant rewards, higher card spend limits, fiat-to-fiat exchanges, access to exclusive deals, no FX or maintenance fees, and international ATM withdrawals of up to AUD 400 a month for free with a 2% fee thereafter.
With Wirex’s crypto-enabled debit card, customers from around the world can buy, hold, exchange and sell over 12 traditional and 130 cryptocurrencies, spendable at 80 million locations. This includes the TAUD (True AUD) stablecoin, which was listed on the Wirex app as part of a previous release of tokens. The partnership between Wirex and Novatti has the potential to bring their multicurrency card to more than 20 million people.
In Australia, Wirex aims to leverage Novatti’s capabilities in order to close the gap between traditional and digital finance. According to the company press release, Australia has one of the highest levels of crypto adoption in the world. Regarding the collaboration with Wirex, Novatti officials highlighted the growing interest for alternative payments in the country, as well as the opportunities that arise to co-create innovative solutions alongside leading payments providers.
In February 2023, Wirex has signed a long-term strategic global partnership with payments company network Visa. Through this partnership, Wirex became a member of Visa in APAC and the UK, which meant that it gained the ability to issue crypto-enabled debit and prepaid cards to over 40 countries. Moreover, the collaboration enabled Asian consumers to spend crypto at a growing number of APAC merchants.
The partnership also supported further collaboration in markets such as APAC, the UK, Europe and the US, as Wirex was empowered to offer new crypto-related products, improve user experiences, and spearhead new blockchain initiatives. Wirex and Visa have already released a crypto-linked visa debit card in the US, and Wirex is holding principal membership status with Visa in Europe.
In December 2022, Wirex launched 52 new tokens on its app in order to provide its users with easy access to DeFi. This represented the largest release of tokens in one go by Wirex at the time, and it brought the company’s portfolio up to 130 cryptocurrencies and 13 traditional currencies.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now