Wirex Works with Banking Circle to Revolutionize Global Financial Operations

LONDON, Nov. 19, 2024 /PRNewswire/ -- Wirex, a leading Web3 money app, is thrilled to announce a groundbreaking global alliance with Banking Circle, a leading provider of next-generation banking services.

This strategic collaboration is set to dramatically enhance Wirex's financial operations across the globe, empowering millions of users with cutting-edge banking solutions.

Under the cooperation, Banking Circle will provide a robust range of banking services that are crucial to Wirex's continued global expansion and the enhancement of its financial ecosystem. These services will include:

• Global bank accounts for Wirex: Supporting the company's global expansion by optimizing treasury operations and enabling more seamless management of fiat and digital currencies.
• New payment services to simplify user experience: Offering instant bank transfers and faster payment solutions, allowing users to send and receive funds effortlessly around the world.
• Settlement and FX solutions for Wirex: Facilitating smoother, real-time payment flows within Wirex's expanding collaboration network.
• Liquidity management facilities: Ensuring the scalability and resilience of Wirex's financial services as it grows its ecosystem globally.

By leveraging Banking Circle's infrastructure, Wirex will deliver an enhanced, more flexible financial experience for both retail and business users worldwide.

"We are proud to work with Banking Circle, whose leadership in the global financial infrastructure space is unmatched," said Svyatoslav Garal, Global Head of Payments at Wirex. "By expanding our capabilities and providing greater access to seamless financial solutions, we're reinforcing our commitment to bridging digital and traditional finance. This collaboration is a natural step in enhancing our global platform to create a more efficient experience for everyone."

Cindy Liu, Co-Head Global Account Management: "Working with Wirex is a key move in our goal to revolutionize global finance with efficient and transparent solutions. Wirex's commitment to pushing the boundaries of fintech makes them the perfect fit to reach new heights in digital finance. By combining our strengths, we're confident this collaboration will be a game-changer for global payments and financial services."

This collaboration signifies a bold step forward for both Wirex and Banking Circle, uniting two industry leaders committed to revolutionizing the financial landscape. Together, they will unlock new opportunities in the global payments space, offering a seamless fusion of digital and traditional finance.

About Wirex

Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly.  As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management. Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.

| wirexapp.com |

About Banking Circle S.A. 

Banking Circle S.A. is a modern correspondent bank committed to building a local clearing network for all major currencies, to deliver fast, low-cost payments with no hidden fees for the beneficiary. As a fully licenced bank, free of legacy systems, Banking Circle enables payments companies and banks of any scale to seize opportunities in the new economy - quickly, at low cost.  It provides a suite of unique and award-winning banking solutions, including multi-currency banking accounts and Virtual IBANs, bank connections for local clearing and cross-border payments, all underpinned by market leading compliance and security.    

Headquartered in Luxembourg, Banking Circle Group has branches in Denmark, Germany, the UK, the US, Singapore, Lichtenstein and Australia. For more information on Banking Circle, please visit www.bankingcircle.com 

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SOURCE Wirex