Wirex - a well-known company in the crypto world, announces the issuance of a new payment card supporting up to 19 cryptocurrencies as well as FIAT currencies. Also of great interest is the cooperation with Mastercard. This London company is an intermediary for crypto payments and is regulated by the British Office of the U.K. Financial Conduct Authority. It also holds a license to issue crypto payment cards in Europe.
They have long sought to encourage the use of cryptocurrencies for everyday purchases, so they decided to improve the existing "Cryptoback" reward program, which has so far rewarded users with 1.5% in bitcoin for each payment. Currently, they increase this reward up to 2%.
But that's still not all. In addition, they introduce support for 5 new FIAT currencies: Croatian Kuna, Czech Koruna, Polish Zloty, Romanian Leu, and Hungarian Forint. By adding these currencies, Wirex is looking to expand its user base, which had up to 3 million in early 2020. It can therefore be assumed that their number will continue to grow. Currently, customers can spend cryptocurrencies in up to 130 countries around the world, where their services are available.
However, cooperation with companies such as Mastercard and Visa remains questionable. They are the leading representatives of the current centralized financial system. It is indisputable that they bring the credibility of stable and large companies to the world of cryptocurrencies and also help the mass adoption of new technologies. However, the intention to create cryptocurrencies is completely different, so we have no choice but to wait whether these collaborations will longtime help or harm cryptocurrencies.