Bitcoin debit card provider Wirex has announced a deal with Japan-based SBI Holdings to establish a new joint venture with particular focus on Asia, Blockchain News reported.

The new venture, SBI Wirex Asia, will deliver a Japanese cryptocurrency payment card and joint businesses, benefitting from Wirex’s expertise in distributed ledger technology (DLT), payments, and cryptocurrencies.

With this collaboration, Wirex will benefit from SBI Holdings’ support, scale and Asian market relationships, while the latter will achieve access to the cryptocurrency payments card provider and its expertise in blockchain based finance.

The announcement follows $3 million in Series A funding by SBI Group in Wirex earlier this year.

“Our new relationship with SBI Holdings enables us to deepen our already market leading position in the country to offer new Japan and Asia focused products and services. I look forward to working with the team at SBI,” Pavel Matveev, CEO, Wirex said. “Japanese customers are our most enthusiastic supporters and use our VISA-backed cryptocurrency debit card more regularly than anywhere else in the world. They deserve a Yen denominated card soon and we will deliver it to them.”

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