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The new Wirex Travel Card powered by VISA intended for the APAC region includes accessibility to 19 currencies, both fiat and crypto.

FCA-regulated payment platform Wirex, has announced a new offering for its customers, called the Wirex Visa Travelcard. Making the announcement at the Fintech Festival held in Singapore, the London-based financial services company said that it hopes the card would give its users the much-needed ease required for them to initiate and settle different kinds of transactions using both digital currency and fiat. The travel card is powered by VISA and is accessible and usable for all of the company’s customers anywhere in the Asia Pacific (APAC ) region.

Wirex co-founder and CEO Pavel Matveev, has expressed excitement at the offering, specifically saying that the new card will be very suitable for travelers:

“We’re delighted to be able to offer the full Wirex experience and empower customers across APAC to take control of their crypto and traditional currency. This unparalleled functionality and versatility makes the Wirex Visa Travelcard the perfect travel companion, whether customers are travelling abroad for business or leisure.”

The Wirex Visa Travelcard promises to be a cheaper alternative to existing options, allowing users extensive access to over 150 different currencies and also easily exchanges between the currencies, without the heavy fees known to accompany such transactions. Users will also have access to more than 54 million different payment outfits in the world, pretty much in all places Visa has access. Furthermore, Wirex claims that all ATM withdrawals around the world would be completely free of charge, for a while. Crypto users will also enjoy up to 1.5% back for in-store Bitcoin transactions via what it calls a Cryptoback programme.

Matveev has suggested that there was a need for the crypto and fiat enabled offering because of increased requests in the area:

“We have witnessed an explosion in demand for hybrid fiat and crypto-enabled banking alternatives in APAC, where people need payments redesigned for the future, allowing them to unlock the value of their different currencies.”

Wirex has also revealed that the new Travelcard is just one phase of a large plan for the company to spread its tentacles wider in the APAC region. At the moment, the Travelcard supports safe cold-storage for 19 currencies including both fiat and digital currencies. Some of them are BTC, ETH, SGD, USD, JPY, EUR, AUD, GBP, and more than ten others.

Apart from its expansion plans, Wirex also hopes to provide people with a platform that can serve as worthy competition for traditional methods of financial activity and to effectively bridge the crypto-fiat gap.

“The evolution of Wirex’s offering in APAC represents more than just the next stage in the platform’s growth strategy; it is a tangible example of our mission to provide a genuine alternative to conventional financial services by connecting traditional and digital ecosystems on one borderless payment platform,’ reads the press release.

For an unspecified period, Wirex will not charge any fees for currency exchange or account management. So far, the company boasts of presence in 130 countries and since its inception back in 2015, Wirex has processed transactions worth over US$2.6 billion.

Tolu Ajiboye , 2019-11-11 16:40:20 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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