Wirex expands in US with the approval of state’s Money Transmission License

On August 7, Wirex declared that it has received its first U.S. money transmission license and is now planning to launch its services in US.

By · Aug 10, 2020 . 5min read

On August 7, Wirex declared that it has received its first U.S. money transmission license and is now planning to launch its services in U.S. Wirex already serves 3 million customers across 130 countries. The permit allows the company to conduct a cryptocurrency exchange business in the state. The state of Georgia’s Department of Banking and Finance issued the license on July 30 to Wirex USA.

Earlier, Wirex became the world’s first company to provide a cryptocurrency rewards scheme, Cryptoback, giving up to 1.5% back to consumers using their Wirex card in-store. Additionally, the declarations come soon after Wirex revealed that it would be launching its “next-gen cryptocurrency platform linked to a spending card in the U.S.”

Pavel Matveev, CEO of Wirex, also tweeted that it has received its first U.S. money transmission license.

Pavel Matveev tweets elucidating Wirex money transmission license.

Exploring Wirex Platform

Wirex offers users the ability to seamlessly buy, hold, and exchange multiple traditional and cryptocurrencies from a single app. Additionally, Wirex empowers everyone to take advantage of the benefits of the blockchain. Moreover, Wirex became the first cryptocurrency-native platform to secure a Mastercard prime membership.

It is the first company to develop a contactless crypto-compatible debit card. Thus, it enables customers to spend their various currency holdings at over 54 million locations where Visa is accepted.

Wirex currently supports 19 cryptocurrencies and traditional currency wallets. It supports the following currencies USD, SGD, AUD, JPY, HKD, EUR, GBP, CZK, MXN, CAD, CHF, BTC, ETH, LTC, XRP, WXT, DAI, NANO, and XLM. Consequently, cryptocurrency users are awaiting how Wirex will unfold its services in the U.S. with a money transmission license. Wirex money transmission license will enable the company to lead a cryptocurrency exchange business in the state.

Follow Cryptodose for more updates.

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