Wirex, a London, UK-based Bitcoin debit card provider, raised £2.45m (approx. $3m) in funding.
SBI Holdings made the investment via its fintech fund.
The company intends to use the funds to launch a contactless card.
Founded in December 2014 and led by Pavel Matveev and Dmitry Lazarichev, Wirex is a provider of platforms that allow the customer to use bitcoin and other virtual currencies in Visa and Master card networks across the world. These platforms enable the user to instantly exchange virtual currency for real-money U.S. dollars, euros or UK pounds on an application. By loading such legal tender onto the prepaid card, the user can use it in Visa and Master Card networks around the world, including ATMs and member merchants. Wirex’s service has over 500,000 members in 130 countries across the world.
The company has offices in London, Tokyo, and Kiev.