Wirex, a card issuer and Banking-as-a-Service provider, announced a strategic integration with Utorg, a fintech focused on infrastructure for the stablecoin economy. The deal will enable Utorg’s consumer-facing wallet environment to embed Wirex’s card issuance and banking infrastructure directly into its application, allowing users to retain self-custody of assets while spending balances at merchants worldwide.
The partnership is positioned as a plug-and-play deployment: Wirex says Utorg can access its full BaaS stack through a single API integration and go live in weeks rather than months. The combined offering is intended to link self-custodial wallets, fiat on- and off-ramps, and payment acceptance into one user flow, with Wirex supplying card rails, IBAN capabilities and conversion services.
What Wirex BaaS supplies to Utorg
- Non-custodial card issuance - Virtual and physical debit cards that permit spending of crypto balances while preserving self-custody for the user, including integration with Apple Pay and Google Pay.
- EUR & USD IBAN accounts - Named virtual IBANs with connectivity to SEPA Instant and Faster Payments, enabling fiat rails for on- and off-ramping in more than 30 countries.
- Real-time crypto-to-fiat conversion - Instant conversion at the point of sale requiring zero prefunding, designed to make transactions seamless for end users.
- DeFi yield with enterprise controls - Integrated yield opportunities for idle balances, accompanied by compliance and risk-management controls.
The announcement notes that Utorg’s platform connects local payment systems with a growing stablecoin ecosystem, providing instant crypto purchases and embedded financial tools alongside self-custodial wallets. With Wirex’s BaaS added to that stack, Utorg is now able to facilitate spending of digital assets across more than 80 million merchants in over 130 countries, according to the companies.
Executives on the partnership
"Our BaaS platform exists so that builders like Utorg can focus on their product instead of piecing together payment infrastructure from scratch," said Daniel Rowlands, General Manager, Onchain Finance at Wirex. "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."
"We built Utorg to bridge the gap between the traditional financial system and the emerging stablecoin economy," said Eugene Petrakov, Co-founder at Utorg. "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."
Context within both companies
Wirex positions itself as a global payments platform that serves consumers and businesses with card-based payment products and partner infrastructure. The company reports being trusted by over 7 million users since 2014 and having processed more than $20 billion in transactions across 130 countries. Wirex operates as a principal member of both Visa and Mastercard, enabling card acceptance through those schemes.
Utorg, founded in 2020, focuses on linking traditional payment networks with digital asset markets. The firm provides self-custodial wallets, instant crypto purchasing and embedded financial tools, and its platform is reported to serve over 2 million users in more than 190 countries. Utorg works with EU-regulated fintech companies as part of its onchain-financial application infrastructure.
Implementation and reach
The companies emphasize that the technical integration relies on a single API and that the Wirex BaaS stack brings together card issuance, virtual IBANs, and conversion capabilities without requiring prefunded accounts at the point of sale. The arrangement aims to allow Utorg users to maintain control over private keys in self-custodial wallets while using the same environment to convert and spend digital assets globally.
The partnership also places Utorg among a lineup of crypto-native projects that have adopted Wirex BaaS for card programmes, including Cardano, Simple App, COCA, Chimera Wallet and Collective Memory.
Contact
Marketing Lead: Arina Gaisina, Utorg Labs - [email protected]