Wirex Receives Deposits Worth $2M in XRP Within 12 Hours
Wirex, operating out of the European Union, is a financial-tech company that provides users with a Visa debit card that supports digital currencies as well as its own wallet. The company announced that participants utilizing their services deposited more than two million USD worth of XRP in just 12 hours.
Many reacted more than positively towards the news and several cryptocurrency users and enthusiasts have asked questions regarding where the cards can operate globally and others instantly jumping to sign up with Wirex. Ripple tokens were introduce to Wirex on the 23rd of July and claimed that their service is the only cryptocurrency platform that will permit users to spend XRP just like they would cash, both online and in-store. Any users can purchase or sell their XRP and deposit the tokens as they please.
So far, the company hosts US dollars, Euros and British Pounds. As of XRP’s addition, any of these currencies can be exchanged for with XRP and fifty alternative coins will also be exchangeable for XRP, including the world’s leading crypto, Bitcoin. Users will also be able to use Ripple tokens in physical venues with hard currency following conversion or by connecting the custom wallet to any Visa cards. All withdrawal, transfers and exchanges occur through ATM’s available to users.
As an added bonus, the company’s services are entirely free except for a minor monthly charge of no more than 2 USD, Euros or GBP in regards to cash withdrawals from ATMs and managing user accounts.
Wirex has stated that more than 1.5M users are signed up and claims a volume of transactions worth almost $2B. As of now, Wirex only provides its service the EEA although plans for further development and expansion towards the United States and Canada are underway.
Contis Financial Services is the company’s Visa card provider under approval by the FCA in the UK to store customer assets in separated accounts and issue digital money. Credit and debit cards supporting cryptocurrencies is a new tech that has emerged recently and is gathering more attention and popularity among the crypto community. Coinbase, one the world’s leading cryptocurrency exchange platforms also supplies its own Shift card by Visa and provides its services to a few states within the US.