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Today it has become much easier to spend crypto in Europe after Wirex has launched Iban support for all EUR encryption accounts. The cryptocurrency debit card provider has just introduced Iban support for users in the European Economic Area (EEA).
This means that users encrypted in the EEA can now fund their accounts with a normal bank transfer. You can deposit euros in yours Wirex it counts with the same ease with which you normally move the money. Your Wirex account now has an Iban number. Thanks to Iban support, Wirex users can even deposit their salaries directly in their accounts.
The fintech startup, based in the UK, has launched Iban support throughout Europe after having quietly launched a pilot program in four European countries in the last two months. Some Wirex users in Spain and France received Iban support in September, for example, and users in Italy and Germany received the Iban numbers last month. The accounts registered in the United Kingdom were the first to receive the Iban numbers at the beginning of this year.
Wirex it has also increased the funding limits for EEA account holders. Users can now fund accounts with up to $ 20,000 USD, € 16,000 or £ 15,000.
The Iban system, or international bank account number system, is a bank account management system used throughout the European economic area. Each bank account has a unique Iban represented by 34 alphanumeric characters. The Iban account ID includes the country code, branch number, branch identifier and routing information, along with two check digits to reduce the risk of errors.
Meanwhile, Wirex has grown to become one of the leading cryptographic platforms in Europe. Last year, European cryptographic debit card providers were messed up when Visa suspended cryptographic debit card payments on its network. Wirex, however, launched with his fists and reintroduced cryptographic debit cards at the start of this year.
Today Wirex users can easily spend several important cryptocurrencies, including bitcoins (BTC), Litecoin (LTC), Ethereum (ETH) and Ripple (XRP). You can use your Wirex card online and in-store wherever Visa cards are accepted. When you spend your Wirex card, your cryptocurrency is automatically converted into British Pound, Euro or US Dollar, with Wirex supporting all three currencies.
You can spend your Wirex funds using a debit card or a digital card.
Will Wirex expand in North America?
While European cryptocurrency users enjoy ease of use when using cryptocurrencies, users scrambled in North America do not have the same privileges. This could change in the future, with Wirex planning to expand soon in the markets of North America.
Last August, Wirex a Fintrac and Money Services commercial registration was granted by the Canadian regulatory authorities. Canadian users, meanwhile, can already configure and use Wirex cryptocurrant portfolios. The next step is to link Canadian fiat currencies with Wirex and then start releasing encrypted debit cards without contact.
American users, meanwhile, may have to wait a little longer. Wirex just announced that he was looking for American beta testers to try the onboarding process.
"We will see for the first time our leading offer on the American market, we would like to know your thoughts – what you like, what you do not like and if you find bugs that may need our attention before launch."
Residents of seven states were invited to trial, including Wirex registered users in Alaska, Nevada, Virginia, Massachusetts, Tennessee, Louisiana, and Montana.
It is not known, however, when Wirex could distribute a debit card to American users or expand its services throughout America. Nonetheless, Wirex seems committed to becoming the leader in cryptography-based payments from Europe to North America.
It is now easier for European Wirex users to integrate Wirex with their daily banking services – and this is good news for future cryptographic adoption.
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