What about Brexit

#1

Hello WireX,
my Questin is what happens if a hard Brexit comes?

Is WireX only in GB, or do you have a Office in EU? And what about your EU-License?
A lot of GB Incurences will lose their EU - Licenses and cant work in the EU again. If your EU costumers have Money on the WireX account what will happen whit this? Is the Card working agian after a hard Brexit?
Will WireX stay in GB, or move to the EU?
I think a fast, clear an Simple answer to this Topic is important.

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#2

hallo Sebastian,

I also asked the same question in this forum.
I do not think we will get an answer from wirex because if they would post something, that could be used against them when they get suefor taking the proper steps to protect the funds of their customers.

I think we can assume that all the visa cards in Euro or of EU/EEA citizens will be blocked by visa as the issuer does not have the license to operate in the EU/EEA.
A small company like wirex does probably not have the funds to set up a seperate operational center in the EU and is betting (our money) that there will not be a brexit without transition periode for retail financial services.

I have emptied by visa card to 4 euro and am waiting tot see what happen. I do not want to have a big amount to be stick in a potential legal limbo.
I would advice everybody to do the same thing.

Kr.

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#3

I emptied my Visa also and will do the same. It sad tha wo dont get an answere from WireX, but maybe WireX has no answere to this Question. I hope Cotsumers form EU will save the amount before the Brexit.

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#4

Hij Sebastian,

I have been wondering if I empting my visa card is enough or if I would also need to move my crypto to another account.
After all, brexit will probably have a bit effect on a lot of companies, including a company like wirex that just lost access to a market of over 400 million people. All access to our crypto currency happens via one application that access one server managed by that one company.

In engineering that’s called ‘a single point of failure’, which is the worse thing you can have in any system.

or.

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