Blockchain personal finance platform Wirex has added support for Litecoin, allowing users to spend the cryptocurrency with its payment card.
Wirex is a provider of cryptocurrency wallets which are also linked to physical and virtual VISA debit cards. It serves more than 900,000 customers in over 130 countries and has an e-money license in the United Kingdom. Wirex operates in partnership with SBI Holdings in Japan as SBI Wirex Asia.
Litecoin, the seventh most valuable cryptocurrency by market, features faster transaction confirmation times and improved storage efficiency than the leading cryptocurrency bitcoin. Wirex believes Litecoin has the potential to become a global payment option available on dozens of big brand websites over the coming months.
Wirex said its new Litecoin wallet allows users to instantly convert the cryptocurrency into British Pound [GBP], Euro [EUR] or US Dollar [USD] and spend it with the Wirex debit card. The cryptocurrency can also be added to the account by bank transfer, debit or credit card, which is secure and can be verified easily. This facility makes it easier to cash out initial coin offering (ICO) or crypto trading profits.
“Wirex keeps growing as a platform, and it’s natural for us to add new services and currencies, said Wirex CEO Pavel Matveev. “Litecoin has huge potential and a big community, so there is a lot of demand for this service on the market.”
Wirex said the free contactless payment cards will be available for European Economic Area (EEA) customers at the beginning of May. The company claims that it is the only provider in Europe that allows spending cash converted from bitcoin and Litecoin via its cards.
“Bitcoin and Litecoin can be exchanged at any time to GBP, EUR, or USD and linked to a Visa card. Moreover, the currency account enables users to purchase bitcoin and Litecoin in amounts up to £7,500 ($10,200 USD) at a time,” Wirex said. “Wirex is expanding its global reach and is forging ahead with other altcoins, as well as offering Litecoin-integrated accounts and cards in Japan, South East Asia, and beyond.”
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