The Crypto platform Wirex is working to include SEPA (Single European Payments Area) Instant Payments and Faster Payments. This will make it easier for users in the UK and the European Economic Area (EEA) to transfer pounds or euros between their Wirex accounts and bank accounts.
Wirex has partnered with Modulr, a digital payment infrastructure provider, to make it easier for customers to withdraw money and deposit. The move to add SEPA aligns with Wirex’s mission of increasing cryptocurrency accessibility to all.
This new top-up option is available to 5 million customers, in addition to the existing debit/credit cards options on the platform. In a press release, Wirex CEO and co-founder Pavel Matveev stated that Wirex users have more control over their money by offering them additional options and flexibility through the introduction of new top-up and withdrawal methods.
Mateev added that the UK and EEA are home to the majority of the company’s customers. As a result, with SEPA and Faster Payments widely used, Wirex knows this will have a significant impact on them.
According to the release, users can use the Wirex app to buy, hold, trade, or exchange multiple traditional and cryptocurrency currencies. They can also spend currencies with the Wirex Mastercard at more than 80 million locations worldwide.
SEPA will allow UK and EEA Wirex users the ability to transfer funds. Every user who activates a Euro wallet in the Wirex app has access to a unique IBAN or BIC.
Fast Payments allows UK users to send and receive GBP instantly to/from their Wirex or bank accounts. The release states that users will receive their unique account number and sort code from Wirex and can enjoy high transaction limits and no fees.
Plaid will also be working with Wirex to provide top-ups or withdrawals in the UK and EEA.