Wirex, one of the fastest growing digital payment platforms, has recently launched a $1M crowdfunding campaign. The campaign is being launched to help the company introduce additional products and services for the token economy. Wirex continues to scale into new horizons, offering a platform where buying, holding, spending, and saving digital and traditional currencies is seamless and borderless.
Wirex Crowdfunding
Wirex, the London based digital payments firm, has recently announced the launch of a $1M crowdfunding campaign. The company plans to conduct its crowdfunding through the CrowdCube platform. In a push to change the way people transact in traditional and digital currencies, Wirex plans to use to proceeds to build out additional products and services. Some of these developments include:
- Additional currencies
- Free international ATM withdrawals
- Elevated limits with little to no fees
- Enhanced reward programs
Regarding the crowdfunding campaign, Wirex CEO and Co-Founder, Pavel Matveev stated that:
“We have a lot of exciting projects and announcements already underway at Wirex as we endeavour to provide a cheaper, faster and safer platform, and crowdfunding will only fast-track our ambitious plans. We’re proudly a hedgehog fintech – our journey to becoming a tech unicorn is built on managing and monetising growth sensibly.”
Wirex Overview
After being created in 2014, Wirex gained significant momentum in 2015 when the fintech firm introduced contactless payment cards that people used to spend cryptocurrencies and traditional currencies in everyday environments. Wirex has continued to scale, serving 3M+ users across 130 countries. In a world where everything is going digital, Wirex is building out a platform where users can seamlessly buy, hold, save, and spend both traditional and crypto currencies. This is all conducted through a centralized mobile app, and a Wirex payment card.
Market Metrics
The digital payments firm is scaling into a market that has seen exponential growth the last decade. According to Wirex, it is estimated that 40M+ people are using cryptocurrency on a global scale. In addition, there has been a +240% increase in blockchain wallet users the last 3 years. In a world where the global pandemic has ultimately changed daily life, it is only expected that the digital economy will come to fruition even quicker than anticipated.
During this crucial time in history, Pavel Matveev also mentioned that:
“Wirex has been making huge strides in changing the financial landscape, by making it easier for everyone to access cryptocurrency and spend it in the everyday. By offering a platform that bridges the traditional and digital economy, we are helping to encourage the mass adoption of cryptocurrency for future generations.”
Company Developments
In July of this year, it was reported by Visionary Financial that Mastercard had named Wirex as their very first crypto native firm to receive principal membership. This membership gave Wirex the ability to issue payment cards to consumers. Users could now purchase, hold, and exchange multiple cryptocurrencies, in addition to spending them at any location Mastercard was accepted. This opportunity arose after Wirex became the first entity to power contactless debit cards that focused on crypto assets.
In a short amount of time, Wirex has already inked various accomplishments such as:
- Winning the “acclaimed innovate Finance Pitch 360” challenge this year
- Achieving UK regulated e-money status
- Notching a company valuation of £125 million
- World’s 1st crypto friendly Visa card
- Launched the first “cryptoback” program to incentive users
More About The Crowdfunding Campaign
The official campaign will go live on September 28th. In terms of investing, an individual must be over 18 years old, and a resident of the UK or other countries where individuals can legally receive financial promotions. It is important to note that residents of the U.S, Canada, and Japan will not be eligible. More information on the campaign can be found on the companies website.
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