Wirex Introduces Iban for All European Crypto Card Accounts
Iban Added to Wirex Accounts in the EEA
The U.K.-based fintech startup has rolled out Iban functionality across Europe after a successful pilot in four countries over the last couple of months. In September, the company launched Iban support for accounts opened in Spain and France. Later Italy and Germany were added. U.K.-registered accounts had Iban numbers even earlier. The company also raised the funding limits for account holders in the EEA to £15,000, €16,000 and $20,000.
Iban, or international bank account number, is a system of identifying bank accounts that allows international payments. Each Iban is unique and consists of up to 34 alphanumeric characters representing country code, domestic bank account number, branch identifier, and routing information. The Iban also has two check digits which allow the verification of the number and reduce the risk of errors.
Wirex has been a popular choice for cryptocurrency users in Europe since it became the first platform to reintroduce crypto debit cards after they were suspended by Visa last year. Its cards allow users to spend several major cryptocurrencies – bitcoin core (#BTC
), litecoin (#LTC
), ethereum (#ETH
), and ripple (#XRP
) – in stores and online, anywhere Visa is accepted. That’s possible thanks to instant conversion to three leading fiat currencies – British pound (GBP), euro (EUR) and U.S. dollar (USD). Wirex wallets support all three currencies and can be linked to the Wirex plastic and virtual cards.
Expansion in North America
The British fintech startup has announced plans to offer its services to customers in North American markets. In August, the company was granted a Fintrac and Money Service Business registration by regulators in Canada, where users can already set up and use Wirex cryptocurrency wallets. The next step is to introduce fiat currency accounts and start issuing contactless crypto debit cards.
Wirex is also preparing to launch in the United States. The company recently posted in its blog that it’s currently looking for beta testers to trial its onboarding process in the U.S. In the announcement, #Wirex