Wirex Debit Card Sees $2M Worth XRP Deposits In 12hrs
Wirex, which offers state-of-the-art cryptocurrency management along with traditional current accounts and globally accepted debit cards, has recently facilitated deposit of XRP token on the card.
Since the day of launch, Wirex has attracted more than 1.5 million users who contribute a monthly transaction volume of $1.70 billion. Wirex is presently offered only to residents of European Economic Area.
The company is continuously seeing an increase in the adoption of crypto currencies in the Euro zone area. Wirex tweeted that it has seen more than $2 million worth XRP token being moved onto its debit card in the past 12 hours. The cryptocurrency debit card is becoming popular because it can be used for various day-to-day purchases.
Wirex offers both ‘virtual’ card and ‘physical’ card. Virtual cards can be used through desktop and smartphone app. The company revealed that it is presently working to enhance its physical card in order to make room for contactless payments.
— Wirex (@wirexapp) July 25, 2018
Similar to other debit card providers, Wirex uses advanced security measures to protect the crypto holdings of user.
According to Wirex
“[The card and Wirex wallet is] fully secured by Multi-Sig technology, SSL encryption and 2-Factor Authentication, your Wirex bitcoin wallet is available on desktop and mobile giving you flexible access to comprehensive cryptocurrency management.”
Notably, Asheesh Birla, Ripple’s SVP of product, has revealed that the companies who are currently piloting its payment platform are realizing cost savings of between 40% and 70%.