This partnership aims to simplify the transition between cryptocurrency and traditional spending. Moreover, the launch of the COCA non-custodial debit card, powered by Wirex's card infrastructure, combines MPC technology's security with everyday financial tools' practicality.
COCA enables direct crypto transactions without the need for preloading, so users can spend cryptocurrency at over 40 million merchants worldwide.
The product is equipped with dual card options, catering to diverse needs for both virtual and physical card formats, ensuring an easy fit into various lifestyles.
MPC Wallet is designed with a zero-fee policy, eliminating monthly and foreign exchange charges.
The fee-free ATM withdrawals allow users to withdraw up to USD 200 globally without incurring any fees, easing international transactions.
Another feature to be incorporated is an integrated IBAN, that will enable users to conduct EUR transactions and access banking services, reducing the gap between digital and traditional banking.
Wirex is a regulated financial institution that prioritises compliance with Know-Your-Customer (KYC) regulations to ensure financial integrity and security. To protect accounts from unauthorised access and potentially fraudulent activities, Wirex implements an advanced account verification process. Therefore, by confirming user identities, Wirex aims to assure users that their accounts and funds are safeguarded.
In addition to this, Wirex works closely with law enforcement agencies in sharing intelligence and combating financial and cybercrimes. The company also provides educational content to inform and empower its users about the importance of security and responsible financial practices. Moreover, Wirex closed a series of partnerships with banks or other financial institutions to provide tools for online security or to expand its suite of services.
In September 2023, Wirex partnered with Onramper, a fiat-to-crypto onramp aggregator, to offer access to cryptocurrencies in over 190 countries through 120+ payment methods. The collaboration improved Wirex user accessibility to crypto including Bitcoin, Ether, and stablecoins through a convenient integration within Wirex Wallet. Earlier the same year, Wirex partnered with Sumsub, providing Wirex with Transaction Monitoring capabilities, Travel Rule compliance solutions for virtual asset transfers, and its KYC software for client identity verification.
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