Wirex, a prominent full-stack crypto card issuer and Banking-as-a-Service (BaaS) provider, has entered into a strategic partnership with global fintech firm Utorg. Utorg, which currently serves more than two million users across over 190 countries, specializes in building consumer and business infrastructure tailored for the rapidly expanding stablecoin economy.
Through the utilization of Wirex BaaS, Utorg is set to embed fully compliant card issuance and banking infrastructure directly into its existing consumer platform. This major integration will empower users with the ability to securely hold assets within self-custodial wallets while simultaneously spending their balances at merchants worldwide via a new Wirex-powered payment card.
The strategic move significantly advances Utorg’s core vision of making digital assets highly practical for everyday use. The platform aims to achieve this by seamlessly combining the security of self-custody with the utility of global payments and local financial rails into a single, cohesive consumer experience.
Powering the ecosystem with a single API
The integration is facilitated through a single API, granting Utorg comprehensive access to Wirex’s complete BaaS stack. Key features of this stack include:
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Non-Custodial Card Issuance: Users will have access to both virtual and physical debit cards, complete with Apple Pay and Google Pay integration. This allows them to spend their crypto holdings while retaining full self-custody of their assets.
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EUR & USD IBAN Accounts: The system provides named virtual IBANs featuring SEPA Instant and Faster Payments connectivity. This crucial banking rail supports smooth fiat on- and off-ramps across more than 30 countries.
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Real-Time Crypto-to-Fiat Conversion: The infrastructure ensures instant asset conversion at the point of sale, completely removing any zero prefunding requirements and making every transaction seamless for the end user.
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DeFi Yield with Enterprise Controls: The platform also offers integrated yield opportunities on idle balances, fully backed by stringent compliance and risk management protocols.
Bridging the gap to the stablecoin economy
Utorg has deliberately built a global platform designed to connect local payment systems directly with the stablecoin economy. Through its infrastructure and consumer-facing products, the company enables users to effortlessly move between fiat currencies and digital assets while maintaining absolute control over their funds. With the addition of Wirex BaaS, this ecosystem is vastly extended, allowing users to spend their digital assets globally across an impressive network of more than 80 million merchants in over 130 countries.
Daniel Rowlands, general manager of onchain finance at Wirex, emphasized the value of the BaaS model.
“Our BaaS platform exists so that builders like Utorg can focus on their product instead of piecing together payment infrastructure from scratch,” Rowlands stated. “Utorg has built something exceptional — a frictionless on-ramp experience loved by hundreds of thousands of users globally. With Wirex BaaS, they now have the card and banking rails to complete that journey from purchase to spend. That’s what full-stack BaaS makes possible.”
Eugene Petrakov, co-founder at Utorg, echoed the strategic alignment between the two firms.
“We built Utorg to bridge the gap between the traditional financial system and the emerging stablecoin economy,” Petrakov explained. “Our goal is to give users a simple way to buy digital assets, keep them in self-custodial wallets, and use them in everyday life. Partnering with Wirex allows us to extend that experience further by enabling global spending directly from the same environment where users manage their crypto.”
This new partnership firmly positions Utorg alongside a rapidly growing roster of crypto-native platforms—such as Cardano, Simple App, COCA, Chimera Wallet, and Collective Memory—that are increasingly choosing Wirex BaaS as the foundational backbone for their payment card programmes.
