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Crypto evangelists are often keen to advance the virtues of a fully decentralised universe, driven by blockchain, independent of state actors or central banks. Wirex shares this enthusiasm for a truly independent metaverse in which financial empowerment is within the grasp of every human on the planet. Nonetheless, there is a pressing need to strike a balance between regulated, fiat-backed financial services and the less uniformly regulated world of cryptocurrencies. For the majority of users, there remains an interaction point which is unavoidable: digital assets require conversion into fiat assets regulated by government bodies or financial institutions. Recognising this reality, Wirex actively seeks out formal regulation where it exists and sets a high standard of regulatory adherence where it does not.
Our belief is that obtaining licences from established regulators across the world acts as a layer of trust, a validation of our service level commitments, and differentiates us from competitors with less scrupulous attitudes to safeguarding customers’ assets.