Posted on April 7, 2020 by staff

Wirex achieves 3m users and reaches profitability


Wirex has maintained three million active users in over 130 countries for its alternative banking services and has reached profitability.

Founded in 2014, Wirex is a mobile payments platform that allows customers to buy, store, exchange or spend digital and traditional currencies.

It was the first company in Europe to offer its clients debit cards linked to cryptocurrency accounts, enabling blockchain and digital currency to finally enter the mainstream and become usable in everyday transactions.

“We are extremely happy that over three million customers have recognised the benefits of managing currencies – both crypto and fiat – on one, centralised mobile app,” said co-founder and CEO Pavel Matveev.

“We are seeing broad and widespread use of our Wirex card which gives our customers the ability to spend their crypto currencies wherever Visa is accepted.”

Wirex operates in 130 countries, providing simple money transfer options and the ability to spend 150 currencies in more than 46 million locations in 200 regions around the world.

Following its successful expansion across Europe and Asia, Wirex is planning to enter the US market later this year.

“Wirex was the first company to introduce a debit card allowing users to spend digital currency – and our customers have really embraced that capability. Customers use it for transport fares, groceries, restaurants and other everyday uses,” added Matveev.

“This success shows that we’ve truly democratised access to cryptocurrencies by removing key barriers to usage and helping to bring the world ever closer to mass adoption.”