LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Dash, the top digital currency for payments, will soon be integrated into crypto-banking platform, Wirex, allowing customers to pay with Dash online and in-store at over 40 million merchants accepting VISA worldwide.
Dash is the leading e-commerce and payments-focused digital currency, and the rising alternative to bitcoin. With over 1000% year over year growth in both value and trading volume since 2015, Dash has been consistently ranked in the top ten digital currencies by market capitalization and only one of the few offering safe, decentralized financial solutions to real world problems. Dash offers a form of money that is portable, inexpensive, divisible, and fast. It can be spent easily and instantly online at merchants across the globe, at much lower fees than credit and debit cards.
Wirex provides cryptocurrency digital wallets, plastic and virtual pre-paid Visa cards around the world. Customers can quickly convert between cryptocurrencies and national currencies, including British Pounds, US dollars and Euros effortlessly using Wirex’s app. Bitcoin and other cryptocurrency payments are simple with Wirex’s easy-to-use app and offers online payments, payouts, acceptances, salaries and international money transfers, globally in a matter of minutes. Wirex serves 800,000 customers in more than 130 countries and is in the process of obtaining an e-money license in the United Kingdom. The company has offices in London, Tokyo and Kiev.
The integration means Wirex plastic and virtual card holders can fund their accounts with Dash, link their Dash wallet, and use the payment card just like a standard VISA debit card. Upon any purchase, Wirex customers will have the payment amount automatically converted from the national denomination to Dash, and then withdrawn from their digital currency holdings. The business partnership also enables Wirex customers the ability to withdraw cash at any ATM, using their Dash, in 210 countries across the world.
CEO of Dash Core, Ryan Taylor, said: “Wirex is a premier brand for digital currency services, and supports the world’s largest base of digital currency funded pre-paid cards. We’re excited to bring the benefits of Dash’s low cost instant transactions to these users.
“Consumers simply don’t like waiting for transactions to top up debit card balances, and I know that once Wirex consumers try Dash they will recognize the time-saving user experience our network provides at a fraction of the fees to which they are accustomed. It really is a win for consumers, Wirex, and Dash.”
Wirex is backed by Japan’s biggest FinTech fund, SBI Holdings, which is headed by industry star, Yoshitaka Kitao. Serving over 800,000 customers in 130 countries, Wirex has notched up $1 billion USD in customer transaction and is seeking an e-money license in the UK.
Pavel Matveev, CEO of Wirex, said: “Wirex is thrilled to be the largest provider of Dash payments cards in the world. Our integration with Dash signals an important milestone in the history of cryptocurrency mass adoption.
“Wirex customers will be the first to spend Dash up and down the high street, or online, as simply as spending any national currency. Dash’s low transaction costs and fast transfer times means customers now have significantly greater flexibility and opportunity to spend cryptocurrencies around the world.”
Despite the historic surge in the total value of the digital currency industry this year, accessibility has remained a recurring issue.
“Wirex bolsters accessibility to digital currency on a global scale, and we now want to spread Dash adoption and further introduce Dash to the mass market. The Wirex payment card is the gateway to cryptocurrency mass adoption and we are providing a simple method to incorporate Dash into the everyday life of communities around the world.
“Buying everyday groceries, a glass of beer or even a brand new car is now possible with the Wirex-Dash partnership,” Matveev said.
Taylor added: “There has been a great deal of demand in the market for Dash, especially in 2017. It is becoming the payment network of choice for many products and services, and it’s largely because our InstantSend feature ensures transactions are confirmed and settled in seconds. Customers can send and receive tokens instantaneously, negating issues of any price swings, and merchants enjoy less fees, and no wait times.”
Wirex will activate a fully-featured Dash wallet so customers can store, exchange or send their Dash funds online. The company, with offices in London, Tokyo and Kiev, will soon offer contactless bitcoin payments, contactless cards, additional currencies and new bitcoin-based financial products in the near future.