Wirex has now principal membership status. The London-based digital firm can now issue payment cards directly to consumers, making it easier for people to buy, hold, and exchange crypto into fiat money.

On his statement, Mastercard’s executive vice president said the deal was part of an expansion of the company, which will enable other crypto firms to become principal members.
“The cryptocurrency market continues to mature … our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay,” Dhamodharan said in a statement.

Prior to this, Wirex’s crypto debit card had been with Visa, issued by German fintech group Wirecard, under license from Visa.

Moreover, Wirex is regulated by the UK’s Financial Conduct Authority and owns a license to issue cards in Europe.

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