Mastercard announced the expansion of its cryptocurrency program by inviting cryptocurrency firms to join their Accelerate program. The partnership makes it simpler and faster for the parties involved to bring secure and compliant payment cards to market.

The program provides a simple, single entry point to the company’s wide range of specialised programs where crypto partners can be onboarded in a matter of weeks and are provided a guided experience.

“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”.

said Raj Dhamodharan, Executive Vice President, Digital Asset and Blockchain Products and Partnerships, Mastercard.

Wirex Becomes Mastercard’s First Crypto Partner

Wirex became the first native cryptocurrency platform to be granted a Mastercard principal membership, allowing it to directly issue payment cards. This makes it easier for people to buy, hold and exchange multiple traditional and cryptocurrencies.

Consumers can instantly convert their cryptocurrencies into traditional fiat currency, which can be spent everywhere Mastercard is accepted. Users will also benefit from Wirex’s CryptobackTM rewards program, which automatically gives customers up to 1.5% back in bitcoin for every purchase made in-store.

“We are very excited for Wirex to be the first crypto-native company granted principal membership from Mastercard. It represents a growing interest and recognition in the acceptance of cryptocurrency by leading bodies and regulators and will help us to realise our vision of empowering everyone to experience a world where all currencies, traditional and crypto, are equal.”

said Pavel Matveev, CEO and co-founder of Wirex.

Regulated by the UK’s Financial Conduct Authority with a license to issue cards in Europe, Wirex has been growing rapidly over the past 18 months, with a successful expansion into the Asia Pacific region and the release of its native Wirex Token (WXT).

Later this year, the company plans to launch a next generation of Wirex card for customers in Europe, with features including additional currencies and free international ATM withdrawals. Wirex also plans to start issuing corporate cards for Wirex Business clients.