Payments processing company i2c and Wirex, a fiat and crypto payments platform, joined hands to launch a multi-currency travel card for the Asia Pacific region.
Announced on Monday, the travel card will support over 150 currencies, including both fiat and digital currencies. The currencies will include the US dollar, Singapore dollar, Australian dollar, Japanese yen, euro, British pound, Bitcoin, Nano, and Ehtereum.
Discover iFX EXPO Asia 2020 in Macao – The Largest Financial B2B Expo
Commenting on the development, Pavel Matveev, co-founder and chief executive of Wirex, said: “Wirex partnered with i2c because they have extensive experience with multi-currency wallets, are the only processor that can integrate both crypto and traditional currencies on a single platform, and have consistently delivered an effective and reliable service.”
Bringing the two platforms together
The companies will also enable credit and debit card deposits on the multi-currency card. To compete with other major market players in the industry, they are also offering up to 1.5 percent crypto rewards on all in-store purchases, and users can also avoid costly travel exchange fees with unrestricted access to over-the-counter and interbank rates.
The spending rewards are linked to the existing offerings of Wirex, which increased the reward limit in September, Finance Magnates reported.
Wirex launched WXT tokens in June with the purpose of rewarding its customers in digital currency. The company raised around $3 million by selling its native token in the initial exchange offering (IEO) platform of OKEx exchange
“Wirex cardholders are now able to travel with multiple currencies to all of the countries they visit using just one card, as well as exchange their crypto to the currency of their choice,” Ava Kelly, senior vice president of product at i2c, added.
“We are pleased to have been able to help Wirex expand their business into Asia with such a highly differentiated and innovative offering that will enhance their customers’ payment experiences when traveling.”