Wirex receives Georgia-based license, pursues US expansion

Friday 7 August 2020 14:40 CET | News

Payments company Wirex has received its first money transmission license in the US from the State of Georgia Department of Banking and Finance.

This license will allow them to engage in the business of money transmission serving the population of the state, and marks an important milestone in Wirex’s drive to offer their services to the US population. The announcement comes after Wirex revealed that it would be launching its cryptocurrency platform linked to a spending card in the US, according to the official press release.

The company’s platform offers users the ability to buy, hold, and exchange traditional coins and cryptocurrencies from a single app. Wirex also developed a contactless crypto-compatible debit card, enabling customers to spend their various currency holdings at over 54 million locations where Visa is accepted. Wirex offers a cryptocurrency rewards scheme as well, called Cryptoback, giving up to 1.5% back to customers using their Wirex card in-store.

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Keywords: Wirex, license, US, Department of Banking and Finance, money transmission license, cryptocurrency, spending card, exchange, app, crypto-compatible debit card, contactless, crypto rewards scheme, Visa, Cryptoback
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech