The newly adopted XRP to Wirex debit card booms, as USD 2 million was deposit within 12 hours. The partnership started on Monday and had seen a significant boost as Wirex twitter handle made the new development known. Wirex is a visa debit card provider; the cards are linked to cryptocurrency wallets. Wirex also provides traditional money and cryptocurrency exchange and payment solution on its platform.
Wirex Debit Card and XRP Sees Growth
The new development was made known on the Twitter handle of Wirex, which states,
“We’ve seen US$2,000,000 worth of #XRP deposits o Wirex in the last 12 hours!”
This tweet represents a significant growth of a merger that started on Monday.
Presently the services of the XRP partnership with the Wirex debit card is only in Europe. However, plans are underway to expand into the United States and Canada.
Meanwhile, the social media post receives many likes and comments with many deciding to try out the visa debit card of the company. The news and the response recently obtained by the media post might increase the rate of using the companies visa debit card in days to come.
According to a post on the site’s platform, Wirex is described as “the only digital money platform that lets you exchange and spends Ripple like traditional currency – in-store and online.” The statement on the site infers that the users of the Wirex can buy, sell, exchange and deposit XRP. The major fiat currency of EUR, USD, and GBP, are supported on the app and can be changed to XRP, as well as XRP changed to other coins that are all supported by the app.
The major advantage of the partnership is that it affords users to pay with XRP for purchase from stores with the debit card. The payment can be activated by converting the XRP to fiat currency or linking the debit card to their XRP wallet. As the card can be used for payment in stores, it can also be used to dispense cash at ATM.
Contis Financial Services issues Wirex visa debit card, and it is authorized by the Financial Conduct Authority (FCA) of UK.
Cryptocurrency debit card is still unpopular, however, some other firms like Xapo, BitPay and Coinbase are into it. Even though cryptocurrency debit card still has restrictions at the moment, the more acceptance the currency gets, the widely the acceptance the debit card will receive.