News from the Wire

ONPEX, Wirex boost growth with cross-border payments, multicurrency IBANs

Tuesday, May 21, 2019 — 12:26:26 (EDT)

Luxembourg, 21st May 2019 – ONPEX, a leading provider of multi-currency IBAN accounts, has partnered with UK-based digital money solutions provider, Wirex. The partnership will help Wirex offer International Bank Account Numbers (IBANs) to deliver effective cross-border payments.

Wirex, a UK based, FCA-regulated digital payment platform, launched the world’s first Visa card that allows users to convert and spend cryptocurrencies wherever Visa is accepted. Wirex’s payment platform currently supports 9 cryptocurrencies, including Bitcoin, Litecoin, Ethereum and XRP, as well as 10 traditional currencies including Pound Sterling, Euro, and US Dollars. The platform enables cost-effective digital transactions for more than 2 million users in 130 countries and has processed over $2bn of transactions to date.

ONPEX is supporting Wirex to further enhance its services by providing IBANs for Wirex account holder. This new facility means users can now easily transfer their money internationally in compliance with local and global legislation, with a reduced risk of transcription errors.

The partnership with ONPEX allows Wirex to increase the number of traditional currencies offered on its platform to 25. ONPEX also enables the company to transfer money via SEPA and SWIFT protocols. This opens up the company's services to many more clients and new cross-border markets, supporting its future growth plans.

Pavel Matveev, CEO at Wirex, explained: " ONPEX’s modular and scalable Banking*-as-a-Service solutions were easily integrated into our platform. We strive to build a platform that empowers people to use their money their way. This mean having both digital and traditional payment rails, for which ONPEX is the right partner for us. The fact that ONPEX is scalable helps us get our new cross-border payments up-and-running quickly and efficiently. With the support of ONPEX, we can continue to grow our business in Europe and around the globe."

Christoph Tutsch, CEO at ONPEX, added: "Wirex has built an impressive product for its customers in recent years. We've provided Wirex's end-users with a practical way to pay in multiple currencies. With access to our IBAN offering, Wirex can go now further. For example, offering card users a range of new benefits, Wirex can build even stronger relationships with its customers. With strong growth plans predicted for both businesses in 2019, we look forward to working closely with this great company in the future."

To find out more about our multi-currency IBAN capabilities, visit: www.onpex.com .

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Source: Company press release.