Wirex: A Hybrid Financial Platform That Uses Blockchain Technology

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Wirex Limited has announced the launch of Wirex, the world’s first hybrid personal banking solution that combines the benefits of blockchain technology with users’ everyday finances, in a way that is both accessible and easy for the general public to use.

Wirex is the first service of its kind to provide bankless financial services, and it is designed to close the gap between digital and traditional currencies for everyday financial transactions.

Evolving to fill the needs of the global citizen, Wirex will offer 3 main services: convenient mobile banking via the Wirex app, instant remittance services, and upgraded 2-way debit cards that allow on-demand conversion between bitcoin and traditional currencies.

Wirex app – The Wirex App offers users a mobile platform to perform convenient and secure 24/7 financial transactions. Linked to your Wirex account, the app utilises security features from BitGo. All funds are protected by XL Group, one of the largest insurance service providers in the world.

Instant remittance service – Wirex uses blockchain technology to significantly improve current cross-border remittance technology. Money transfers can be made instantly and securely, without cross-border fees. (Exchange rates apply.) Users can also integrate individual Wirex accounts with PayPal, Amazon, and Skrill, for wider financial applicability.

2-way debit cards – Bitcoin price volatility has been a challenge for Bitcoin debit card users. In order to address this problem, Wirex offers the world’s first 2-way bitcoin debit card. Users may convert bitcoin into traditional currencies (USD, GBP, EUR) – and vice versa – at any time, effectively ‘locking’ the rates in advance, for hassle-free everyday spending.

Through the Wirex platform, users will no longer need to go through the inconvenience of visiting physical financial institutions. Wirex debit cards are borderless and they are accepted at millions of shops and ATMs around the world. The services are available to customers in more than 130 countries.

Previously, Wirex Limited was the company behind the successful bitcoin debit card provider E-Coin. E-Coin gained 100,000 users within one year, and processed more than $2 million in monthly transactions.

Wirex will be available in March 2016. For earlier access, updates, and promotions, Wirex invites members of the public to sign up on the waiting list.

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Founder of Blockchain News and The Hackitarians Foundation, Richard Kastelein is an award winning publisher and editor, hackathon organiser and entrepreneur. He has written over 700 articles at Blockchain News, has a massive network in the Blockchain arena and is available as a speaker and consultant. (richard@the-blockchain.com) Kastelein has spoken (keynotes & panels) on technology at events in Amsterdam, Barcelona, Belfast, Berlin, Brussels, Brighton, Copenhagen, Cannes, Cologne, Curacao, Frankfurt, Gdansk, Hollywood, Hilversum, Geneva, Groningen, London, Las Vegas, Leipzig, Madrid, Melbourne, NYC, Oxford, Rio de Janeiro, Sheffield, San Francisco, San Jose, Sydney, Tallinn, Vienna, and Zurich. A Creative Technologist & Canadian (Dutch/Irish/English/Métis) his career began in the Native Press (Canadian Arctic) and he later spent a decade in the Caribbean media. Currently, he writes occasionally for Wired Insights, Guardian & Virgin and his articles have been translated into Dutch, Greek, Polish, German & French.