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Wirex
Wirex is a 7M-user platform combining stablecoins, fiat, and Visa/Mastercard principal issuance — bridging digital assets and daily spending since 2014.
Wirex
Founded in 2014, Wirex operates as a hybrid digital-asset platform serving both retail and private clients. The company's core proposition rests on unifying cryptocurrency wallets, fiat accounts, and payment cards — not merely as a gateway to digital currencies but as a functional current-account replacement. Its regulated structure and direct memberships set it apart from non-custodial or aggregator wallets. Wirex's primary products revolve around a multi-currency app that supports over 150 traditional and digital assets. Users can earn up to 14% interest on stablecoin deposits and up to 8% cashback on card spending, while the platform applies zero foreign-exchange fees globally. The firm extends this model to business clients through Wirex Business, which combines stablecoin and fiat accounts with corporate Visa cards for treasury management and cross-border settlement. For developers, Wirex provides a single API to launch stablecoin-powered programs, including card issuance and fiat-stablecoin conversion, sitting atop its dual-stablecoin settlement network for USDC and EURC transactions. In early 2024, Wirex announced it had surpassed 7 million customers and processed more than $20 billion in cumulative transaction volume. It carries over $30 million in insurance on digital assets, a figure the firm highlights for its private-client tier. That tier, Wirex Private, targets high-net-worth individuals with dedicated personal managers, higher spending limits, and controlled liquidation mechanisms for large holdings. The company has not disclosed a total AUM or named its founding principals. Wirex's structural edge is its principal membership with both Visa and Mastercard. This allows the firm to issue cards directly rather than through a third-party bank partner — a configuration that gives it control over interchange economics and program terms, which most crypto-native platforms cannot replicate. The architecture effectively collapses the distance between a multi-currency digital wallet and a licensed card-issuing institution.
General information
Firm type
Asset Manager
Year founded
2014
AUM
Undisclosed
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Sector focus
Frequently asked questions
Does Wirex custody client assets directly or through a third party?
Wirex operates a custodial model. Users deposit both fiat and crypto into Wirex-controlled wallets. The firm states it carries over $30 million in insurance on digital assets, suggesting a centralized risk-management framework rather than an external qualified custodian architecture. The specific custody partners and regulatory registrations are not publicly detailed on its site.
How does Wirex generate revenue?
Wirex earns through multiple channels: interchange fees from its Visa and Mastercard card programs, spreads and fees on cryptocurrency exchange and conversion within the app, and potentially from the yield spread on its interest-bearing stablecoin accounts. The firm does not break out its revenue mix by segment, but the direct card-issuing relationship means a higher share of interchange economics compared to wallet providers that rely on third-party issuers.
Is Wirex publicly traded or privately owned?
Wirex is privately held. The company has not disclosed its ownership structure, cap table, or any plans to go public through an IPO or SPAC. It dropped its own utility token (WXT) in 2019, which functions as a loyalty-rewards mechanism rather than an equity proxy.
What jurisdictions does Wirex operate in, and who regulates it?
Wirex claims a global user base of 7 million, with its business and developer products designed for cross-border use. It has not published a comprehensive list of operating licenses or a specific group-level regulator on its website. Prospective institutional partners would need to request a current regulatory map covering fiat and crypto activity per jurisdiction.
Does Wirex manage money for external institutional allocators?
Wirex is not structured as a traditional asset manager or a family office accepting outside LP capital. Its platform serves retail, private HNWI, and business clients with yield, spending, and treasury tools. It does not market pooled investment vehicles, separate accounts, or advisory mandates to institutional allocators.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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