Mastercard, one of the world’s largest payments processors, says Wirex has become the first native crypto company to be able to directly issue payment cards to its customers.

• As part of an expansion of its cryptocurrency program, Mastercard said Monday it had granted Wirex principal membership status.
• Regulated by the U.K.'s Financial Conduct Authority (FCA), Wirex offers a payment facility that automatically exchanges crypto into fiat currencies.
• Wirex's original card had been with rival Visa; the company will now be able to use Mastercard's network for fiat currency payments.
• Mastercard processed more than $1.6 trillion in Q1 2020; an 8% increase year-on-year.
• Raj Dhamodharan, Mastercard's executive vice president on digital assets and blockchain, said the company wanted to work within a maturing cryptocurrency industry.
• Mastercard also said it had made its processes easier for other crypto companies to become principal members as well as access some of its acceleration programs.

See also: BitPay Launches Prepaid Crypto Mastercard for US Customers