Mastercard to Issue Payment Cards for Crypto Platform Wirex
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July 20, 2020

A global payment network Mastercard has announced Wirex, a crypto-related payment provider, has been invited to join Mastercard’s Accelerate program for emerging brands and fintechs.

According to an official press release, Wirex became the first cryptocurrency platform to receive full membership in the Mastercard payment network.

Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard says the corporation decided to invite Wirex as the cryptocurrency market continues to develop rapidly.

"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," Dhamodharan said.

Over the past year and a half, Wirex has made a significant headway in the cryptocurrency market following the approval of the UK Financial Conduct Authority to issue debit cards in Europe.

The company's success is due to the active expansion of its products into the Asia Pacific region, as well as due to the release of its own Wirex Token (WXT).

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Previously iHodl reported that Mastercard decided to join the ID2020 Alliance, a blockchain-focused alliance dedicated to providing all people on the planet with a digital ID by the year 2030.

Mastercard claims it admits that holding a viable and trusted digital identity will allow everyone "to connect and realize the opportunities presented by our increasingly digital world."

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