AlphaPoint Supports Grupo Bancolombia's Wenia in Launching a Crypto Card

Seamless, Secure and Trusted: Wenia Users Can Now Spend Crypto Globally with the Wenia Card

NEW YORK, Nov. 22, 2024 /PRNewswire/ -- AlphaPoint, a leading provider of digital asset infrastructure for fintechs, exchanges, brokerages, digital wallets, and banking, is proud to support the launch of the Wenia Card, a new crypto-backed Mastercard. This solution provides Wenia users a secure and user-friendly seamless way to spend their crypto assets in real-time at any merchant accepting Mastercard worldwide.

The Wenia Card is powered by AlphaPoint's advanced infrastructure, which also underpins the Wenia exchange, delivering secure, compliant, and scalable solutions. The integration allows Wenia users to effortlessly link their crypto balances to the Wenia Card, with real-time conversion of assets, including Bitcoin (BTC), Ether (ETH), stablecoins like USD Coin (USDC) and  Bancolombia's Colombian peso-backed stablecoin, COPW, and others such as Polygon (MATIC), Solana (SOL) for use in everyday transactions.

"We are thrilled to support Wenia to enable this innovative product for their growing user base," said Igor Telyatnikov, CEO of AlphaPoint. "As more users adopt cryptocurrency worldwide for a store of value, seamless exchange and spending of those assets at the point of sale are necessary for the best user experience. This launch demonstrates our continued belief and investment in making cryptocurrencies more accessible and usable, providing users with a seamless, trusted, and efficient way to spend their digital assets."

AlphaPoint's new Payment Card Solutions offering provides the ability to launch Debit and Credit Card products enabling users to use their crypto balances for purchases worldwide.

Features and benefits of the AlphaPoint card offering include:

• Spend Your Crypto Anywhere
  • Allow users to seamlessly spend their crypto balances directly from the exchange accounts, anywhere Visa or Mastercard is accepted, bridging the gap between digital assets and real world transactions.
• Smart Conversion
  • Automatically convert from multiple currency balances when one is insufficient, avoiding transaction failures due to insufficient funds and ensuring transactions are always successful.
• Digital Wallet Enabled
  • Compatible with Apple Pay and Google Pay mobile wallets.
• Budget Limits
  • Configurable spending limits for users virtual and physical cards.
• Institutional-Grade Architecture
  • Leverage trusted, highly scalable software backed by global payment networks like Mastercard and Visa to deliver a secure, compliant, and scalable infrastructure. 
• Grow Your User Base and Expand Revenue Channels 
  • Introduce Debit Card or Credit Card functionality to your platform to go beyond trading. Enhance user engagement while unlocking additional revenue streams through transaction fees and increased activity on platform.

Wenia, a subsidiary of Grupo Bancolombia, launched its crypto platform in May 2024 under a Class F license granted by the Bermuda Monetary Authority. Wenia aims to bridge the gap between the growing crypto market and mainstream financial solutions. The launch of the Wenia Card furthers this mission by eliminating the need for pre-conversion of crypto assets, offering users speed and convenience for transactions in their local currency or beyond.

Integrating Debit Card capabilities natively into the AlphaPoint Platform aligns with an ongoing commitment to providing cutting-edge digital asset infrastructure that enhances liquidity, scalability, and usability for financial institutions and crypto platforms worldwide.

About AlphaPoint
AlphaPoint is a global financial technology company providing digital asset infrastructure to power the next generation of fintechs, exchanges, brokerages, payment networks, and banking. Our full-suite products provide trusted, secure, scalable, and customizable solutions for trading, payments, lending, custody, and more.

AlphaPoint has enabled over 150 customers in 35 countries including the Groupo Bancolombia's Wenia, CME Group, XP Securities, and Chivo. AlphaPoint has powered over 1 trillion in trading volume and the technology has handled billions in assets on the platform. Over the past decade, AlphaPoint has received multiple prestigious awards recognizing its innovations, exponential growth, and leading technology in the fintech and digital asset space. AlphaPoint continues to empower clients to build, launch, and operate global marketplaces and financial applications. For more information, please visit https://alphapoint.com/ and connect on LinkedIn, and X.

SOURCE AlphaPoint Corporation