Payments Firm Wirex Pauses New Customer Onboarding on FCA Orders

The crypto-friendly firm will use this pause to strengthen its anti-money laundering controls.

AccessTimeIconMar 24, 2021 at 12:33 p.m. UTC
Updated Aug 19, 2021 at 8:17 a.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Payments platform Wirex has temporarily suspended onboarding new U.K. customers following discussions with U.K. financial regulator the Financial Conduct Authority (FCA).

  • The crypto-friendly firm announced Wednesday it will be using this pause to strengthen its anti-money laundering (AML) controls.
  • Prospective customers will be invited to join a waiting list in the meantime, Wirex CEO Pavel Matveev announced.
  • The FCA became an anti-money laundering and counter-terrorist financing supervisor for businesses in January 2020. Since then, crypto firms have raised concerns over delays in processing of their required registration applications.
  • Wirex offers its users in-app buying, selling and transacting services in over 20 cryptocurrencies and fiat options, including BTC, ETH, XRP and XLM.
  • The company says it has 3.5 million customers worldwide.
  • It announced the launch of a multi-currency Mastercard debit card in the U.K. and European Economic Area on March 9.
  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.