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UK-based cryptocurrency and payments platform expands services in the U.S.

Wirex, the payments and cryptocurrency platform based in the U.K., is getting ready to expand its business to the U.S.

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Wed, 12 Aug 2020, 07:08 am UTC

Another player will soon enter the U.S. cryptocurrency industry. Wirex, the crypto and payments platform based in the U.K. is getting ready for the launch of its “next-gen cryptocurrency platform linked to a spending card” in the U.S. after receiving its first state money transmission license.

In an announcement made on Friday, August 7, Wirex revealed that it received its first money transmission license in the U.S., according to The license was issued by Georgia’s Department of Banking and Finance on July 30 to Wirex USA.

“This week, Wirex took the next step in its US expansion after receiving our first money transmission license in the US, from the State of Georgia Department of Banking and Finance,” Wirex announced in a post on Medium. “This license will allow us to engage in the business of money transmission serving the population of the state, and marks an important milestone in Wirex’s drive to offer our industry-leading services to the US population.”

Apparently, getting the money transmission license is just one of steps that the firm needed to take before reaching its goal of rolling out its cryptocurrency-related services in the U.S. “The announcement comes after we revealed that we would be launching our next-gen cryptocurrency platform linked to a spending card in the US,” Wirex added.

This was also confirmed by Wirex USA Managing Director Harold Montgomery. “The license in the state of Georgia is the first success in Wirex’s approach to providing fully compliant cryptocurrency management capabilities in the hands of its customers,” Montgomery said.

At the moment, the payment firm did not yet give a specific launch date for its services but gave the assurance that they will be available soon. “We’re planning to launch our services in the US in the coming months,” Wirex said.

Wirex supports 19 traditional currency and cryptocurrency wallets, according to its site. They include USD, SGD, AUD, JPY, HKD, EUR, GBP, CZK, MXN, CAD, CHF, BTC, ETH, LTC, XRP, WXT, DAI, NANO and XLM. The platform has 3 million users from 130 countries.

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