Wirex
Wirex combines a crypto wallet, 150+ asset exchange, Visa/Mastercard cards, yield options, and global transfers in one app.
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Wirex Overview
Wirex is a digital wealth platform that bridges traditional finance and cryptocurrency, offering a multi-currency wallet, crypto debit cards, and high-yield savings products. Founded in 2014 in London by Pavel Matveev and Dmitry Lazarichev, Wirex was originally known as E-Coin before rebranding to its current name.
The company pioneered the crypto debit card industry, launching the world's first crypto-enabled Visa debit card in 2015. This innovation allowed users to spend Bitcoin and other cryptocurrencies at any merchant accepting Visa or Mastercard. Since then, Wirex has grown to serve over 7 million registered users across 130+ countries and has processed over $20 billion in transactions.
Wirex achieved a significant milestone by becoming the first crypto-native company to gain principal membership with both Visa and Mastercard, allowing direct card issuance without intermediary banks. The company is headquartered in London and is regulated by the UK Financial Conduct Authority (FCA) as a licensed e-money issuer, the Bank of Lithuania, and Singapore's MAS.
Products & Features
Wirex Card
The Wirex Card is a prepaid debit card available on both Visa and Mastercard networks:
- Physical & Virtual Cards: Instant virtual card issuance, physical card shipped to your address
- Global Acceptance: Usable at 61+ million merchants worldwide
- Multi-Currency: Spend in crypto and fiat currencies seamlessly
- Contactless Payments: NFC-enabled for tap-to-pay
- ATM Withdrawals: Free withdrawals up to €400/month (2% fee after limit)
- Real-time Conversion: Automatic crypto-to-fiat conversion at point of sale using OTC rates
Wirex App
The all-in-one mobile platform includes:
- Multi-Currency Wallet: Hold 150+ cryptocurrencies and 12+ fiat currencies
- Exchange: Instant swaps between crypto and fiat with competitive rates
- Buy Crypto: Purchase crypto via card, bank transfer, or Apple Pay
- Wirex Wallet: Non-custodial wallet with multi-chain support
- Bill Pay: Pay bills directly with crypto
- Wirex Travel: Travel booking with crypto payments
Savings Products (X-Accounts)
- Flexible Savings: Earn up to 12-16% AER on crypto deposits
- Fixed Savings: Lock funds for higher yields
- DUO (Dual Investment): Combine savings and investment strategies
- Multiply: Leverage-based earning products
Additional Features
- Borrow: Crypto-backed loans
- WXT Token: Native utility token for enhanced rewards and fee discounts
- Wirex Private: Premium banking for balances of $100,000+
- Business Accounts: Corporate solutions with multi-currency IBAN
Supported Cryptocurrencies
Wirex supports 150+ cryptocurrencies including:
Major Cryptocurrencies
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Stellar (XLM)
- Dogecoin (DOGE)
- Nano (NANO)
- Waves (WAVES)
- Polygon (MATIC)
Stablecoins
- USDT (Tether)
- USDC (USD Coin)
- DAI
- 26 Wirex fiat-backed stablecoins on Stellar Network
Native Token
- WXT (Wirex Token) - Used for rewards, fee discounts, and staking benefits
Fees & Pricing
Subscription Plans
| Plan | Monthly Fee | Cryptoback | X-Account AER | WXT Savings Bonus |
|---|---|---|---|---|
| Standard | Free | Up to 1% | Up to 12% | Up to 1% |
| Premium | €9.99 | Up to 3% | Up to 13% | Up to 6% |
| Elite | €29.99 | Up to 8% | Up to 16% | Up to 16% |
15% discount available for annual payments
Card Fees
| Fee Type | Amount |
|---|---|
| Card Issuance | Free |
| Monthly Maintenance | €1-1.20 (Europe) |
| ATM Withdrawal (in-network) | Free up to €400/month |
| ATM Withdrawal (over limit) | 2% |
| International ATM | $2.75 / €2.25 |
| Crypto-to-Fiat Conversion | ~1.5-2% (OTC rate + commission) |
| Foreign Exchange | No additional fee (interbank rates) |
Exchange Fees
| Transaction Type | Fee |
|---|---|
| Fiat-to-Fiat | Free |
| Fiat-to-Crypto | OTC rate + ~1.5% |
| Crypto-to-Crypto | OTC rate + commission |
| Crypto Deposit | 1% |
| SWIFT Withdrawal | $15 |
Cryptoback Rewards
Wirex's signature rewards program pays cryptocurrency cashback on card purchases:
- Standard: Up to 1% Cryptoback
- Premium: Up to 3% Cryptoback
- Elite: Up to 8% Cryptoback (requires WXT locking)
Reward Tiers (with WXT Locking)
| Tier | WXT Required | Max Cryptoback |
|---|---|---|
| Standard | 0 | 1% |
| Enhanced | 500K WXT | 4% |
| Ultimate | 7.5M WXT | 8% |
Monthly Caps
- Standard: 10,000 WXT (~€30)
- Premium: 50,000 WXT (~€120)
- Elite: 150,000 WXT (~€400)
Rewards are paid in WXT tokens which can be converted to 37+ cryptocurrencies.
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Card Limits
| Limit Type | Amount |
|---|---|
| Daily Spending | €30,000 |
| ATM Withdrawal per Transaction | €500 |
| Monthly ATM Free Limit | €400 |
| Maximum Card Balance | Varies by verification level |
Supported Countries
Wirex is available in 130+ countries worldwide.
Full Service Regions
Europe (EEA): United Kingdom, Germany, France, Spain, Italy, Netherlands, Austria, Belgium, Portugal, Poland, Czech Republic, Slovakia, Romania, Sweden, Norway, Denmark, Finland, Ireland, Greece, Croatia, Hungary, Switzerland, and more
Asia-Pacific: Australia, New Zealand, Singapore, Hong Kong, Philippines, Taiwan, Thailand, Japan
Americas: United States (limited features), Canada (select services)
Regional Variations
- UK/EEA: Full suite of products including Mastercard/Visa cards
- APAC: Visa Travelcard with multi-currency support
- USA: App and card available (launched 2020-2022), some features limited
- Japan: Launched with local partnerships
Not Available
Services may be restricted in countries under international sanctions or without regulatory framework for crypto services. Specific country availability should be verified on the Wirex website.
Regulation & Security
Regulatory Licenses
| Region | Regulator | Status |
|---|---|---|
| United Kingdom | FCA (Financial Conduct Authority) | Licensed E-Money Issuer |
| European Union | Bank of Lithuania | EMI License |
| Singapore | MAS | Regulated |
| United States | FinCEN | Registered MSB |
Security Features
- Multi-Signature Cold Storage: Majority of crypto assets stored offline
- Fireblocks Partnership: MPC (Multi-Party Computation) technology
- BitGo Custody: Institutional-grade asset protection
- 2FA (Two-Factor Authentication): Google Authenticator/Authy support
- PCI-DSS Level 1 Certified: Highest payment card security standard
- 256-bit AES Encryption: Bank-grade data protection
- TLS Encryption: Secure data transmission
- SCA (Strong Customer Authentication): EU PSD2 compliant
- Segregated Accounts: Client funds held separately from company assets
- Instant Card Freeze: Lock card immediately via app
Pros and Cons
Pros
- First crypto-native Visa and Mastercard principal member
- Up to 8% Cryptoback rewards on purchases
- 150+ cryptocurrencies supported
- Up to 16% AER on savings products
- No FX fees on card spending (interbank rates)
- Free ATM withdrawals up to €400/month
- Both physical and virtual cards available
- FCA regulated with strong security measures
- Available in 130+ countries
- Non-custodial wallet option (Wirex Wallet)
- No fees for fiat-to-fiat exchange
- 7M+ users with $20B+ processed
Cons
- Maximum rewards require WXT token locking (7.5M WXT)
- Premium plans required for higher Cryptoback rates
- Monthly maintenance fee in Europe (€1-1.20)
- ~2% crypto-to-fiat conversion spread
- Customer support response times criticized
- Apple Pay not supported
- Third-party deposits to IBAN not accepted
- Some features vary by region
- WXT token volatility affects reward value
- Daily ATM withdrawal limit of €500
Target Users
Wirex is ideal for:
- Frequent Travelers: Multi-currency spending with interbank rates
- Crypto Holders: Easily spend crypto anywhere Visa/Mastercard accepted
- Passive Income Seekers: High-yield X-Accounts up to 16% AER
- Cashback Enthusiasts: Earn up to 8% Cryptoback on purchases
- DeFi Users: Non-custodial wallet with multi-chain support
- International Users: Available in 130+ countries
- Fintech Early Adopters: Pioneer in crypto-fiat integration
Alternatives
About the author
Founder of Sirket.io & Editor at BankList.co
Can Ozer is the founder of Sirket.io with over 6 years of experience in international taxation. He has helped many entrepreneurs with offshore company formation, business bank account opening, and payment infrastructure applications across multiple jurisdictions. At BankList.co, he reviews and curates banks and financial services to help founders choose the right financial partner.
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