Wirex and Utorg to Launch Crypto Card for 2M Users

Partnership to Integrate Crypto Payments

Wirex, a Banking-as-a-Service (BaaS) provider, has announced a strategic partnership with global fintech company Utorg. This collaboration aims to integrate Wirex's non-custodial card infrastructure into Utorg's consumer platform, serving its user base of over 2 million across 190 countries.

Expanding Global Payment Capabilities

Through a single API integration, Utorg will leverage Wirex's complete BaaS stack. This provides users with virtual and physical debit cards linked to their self-custodial wallets, enabling them to spend crypto balances at over 80 million merchants worldwide. The service includes real-time crypto-to-fiat conversion at the point of sale, eliminating pre-funding requirements and supporting both Apple Pay and Google Pay.

Impact on Digital Asset Usability

The partnership significantly advances Utorg's mission to make digital assets practical for everyday use. By combining self-custody with global payment rails and local financial systems like EUR and USD IBAN accounts, users can seamlessly transition between fiat and crypto within a single application. This move strengthens the connection between the traditional financial system and the growing stablecoin economy.

Summary

This collaboration positions Wirex as a key infrastructure provider for crypto-native platforms seeking to launch payment card programs. For Utorg, it completes the user journey from crypto purchase to real-world spending, enhancing the utility and accessibility of digital assets for a global audience.

FAQ

Q: What does the Wirex and Utorg partnership achieve?
A: It allows Utorg's 2 million users to spend cryptocurrency directly from their self-custodial wallets using a Wirex-powered payment card at merchants worldwide.

Q: What key features does Wirex BaaS provide to Utorg?
A: Wirex provides non-custodial card issuance, EUR & USD IBAN accounts, and real-time crypto-to-fiat conversion at the point of sale.

Source: Investing.com