Wirex, a digital payment platform, has just released a long-awaited multi-currency Mastercard debit card. Currently, the debit card is only available in Europe. With about 75,000 people on its waitlist, the popularity and demand for a crypto-friendly debit card are clearly very strong. The Wirex card enables one to spend up to 18 crypto and traditional currencies in real-time.
Since Wirex is a Mastercard principal member, it is authorized to directly issue debit cards to consumers. Their platform allows customers to easily buy, hold, and exchange crypto and traditional currencies. Digital currencies can be converted into fiat currencies and spent anywhere Mastercard is accepted.
“The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy. Our work with Wirex is another example of how we are empowering consumers with more choice and peace of mind in the way they shop and pay,” said Edoardo Volta, Head of Fintech for Mastercard UK and Ireland.
Wirex has also launched a new rewards program called X-tras Worldwide. Perks of this program include a maximum of 2% crypto rewards added to one’s balance whenever in-store or online purchases are made. On top of that, an additional 12% savings bonus will be added to their WXT account balance as part of a limited time offer. WXT is the native crypto token of the Wirex platform.
“It’s been Wirex’s aim to continue developing a next-generation product that will bring crypto further into the mainstream, and the launch of the debit card and X-tras rewards scheme will make this a reality. The huge range of benefits that come with it will appeal to everyone from crypto-enthusiasts to frequent travelers and the financially-savvy, and will be a great alternative to traditional banks,” said Pavel Matveev, Co-Founder and CEO of Wirex.
European customers can also access their card account via an app worldwide. This improved user experience will help boost crypto accessibility and reduce customer friction which had been a limiting factor to wider crypto adoption in the past. META 1 Coin Trust also offers a crypto-fiat convertible debit card known as META Card as part of the METANOMICS financial eco-system of offerings. META 1 Coin holders can easily spend their crypto with their card and can access their account via a secure online system as well.
The use of a debit card instead of a credit card also bolsters financial responsibility and growth. Credit cards have led to a form of financial enslavement for many consumers who have been led to believe that happiness is tied to buying depreciating assets using credit cards. The reality is that crushing interest rates and payments have led to financial ruin for many unwitting victims of mass media ad campaigns. By encouraging the use of a debit card, which is tied to one’s bank account, one can only spend money one has, instead of borrowing money at high interest rates.
This fiscal responsibility helps break the chain of debt servitude and empowers Humans to become masters of their own destiny instead of being dependent on others for achieving their dreams.