Crypto Business Accounts Rolled Out By Blockchain Payment Firm Wirex

Announcements, News | March 21, 2019 By:

Blockchain personal finance firm Wirex has rolled out its business accounts that allow users to transact in both fiat and cryptocurrencies.

Wirex provides crypto 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 UK. Wirex operates in partnership with SBI Holdings in Japan as SBI Wirex Asia.

The new product, called Wirex Business, will reportedly allow cryptocurrency businesses to operate under their legal entity name. They will be able to manage their business accounts and make payments to suppliers in 4 cryptocurrencies and 12 traditional currencies, while benefiting from interbank and over-the-counter (OTC) rates for international transactions using SEPA, Swift or the blockchain.

“The desktop account gives business owners full control of all their accounts with differing permission levels and real time activity tracking, showing separate account balance as well as the total balance,” Wirex said. “Business accounts are initially available for businesses registered in the European Economic Area (EEA) on a tiered subscription model depending upon company size and requirements.”

According to Wirex, the new product is aligned with the company’s strategy to become “a truly borderless payment platform of tomorrow.”

“B2B international transactions in crypto have for too long been subject to unnecessary restrictions and high fees through existing channels.” said Wirex Founder Dmitry Lazarichev. “From the outset, we thrive to empower our users to use their money, their way. Having spent the past 5 years building a platform that bridges the gap between cryptocurrencies and traditional money with a personal account, today we’re delighted to announce that we’re launching a business account which offers all of the same great features and put a stop to the pain encountered by crypto businesses when opening an account under a legal entity name.“