Mastercard Now Allows Crypto Firm Wirex to Issue Payment Cards

Note: This article by Paddy Baker originally appeared on Coindesk. Read the story here.

• As part of an expansion of its cryptocurrency program, Mastercard said Monday it had granted Wirex principal membership status.

• Regulated by the U.K.'s Financial Conduct Authority (FCA), Wirex offers a payment facility that automatically exchanges crypto into fiat currencies.

• Wirex's original card had been with rival Visa; the company will now be able to use Mastercard's network for fiat currency payments.

• Mastercard processed more than $1.6 trillion in Q1 2020; an 8% increase year-on-year.

• Raj Dhamodharan, Mastercard's executive vice president on digital assets and blockchain, said the company wanted to work within a maturing cryptocurrency industry.

• Mastercard also said it had made its processes easier for other crypto companies to become principal members as well as access some of its acceleration programs.

---

This article is a republished article and is not a property of Daliha Solutions.
The article is owned and published by Coindesk.
The article was published 2020-07-20
For further info please read the full article here.