SBI and Wirex to launch cryptocurrency card
Written by Anthony Strzalek
Tokyo’s SBI Holdings has teamed up with UK FinTech firm Wirex to establish a joint venture that involves rolling out a new cryptocurrency payment card in Japan.
Wirex is a provider of payment services that allows customers to use bitcoin and other cryptocurrencies on the Visa Card networks around the world. This payment service enables the user to instantly exchange cryptocurrencies to legal tenders.
SBI Holdings plans to form a joint venture company with Wirex by investing in its local subsidiary in Japan by the end of October 2017.
The joint venture company will issue a cryptocurrency payment card in Japan, as well as develop other co-businesses in the field of cryptocurrencies, DLT and payments.