Global mobile crypto wallet provider BRD has announced a partnership with blockchain payments and infrastructure firm Wyre that will enable its United States-based customers to purchase cryptocurrencies using bank transfers. The news was revealed in a press release shared with Cointelegraph on June 13.
According to the press release, U.S. customers will be able to purchase bitcoin (BTC), ether (ETH) and dai (DAI) by directly linking their BRD wallet to their bank account and making a low-fee transfer. The new service is reportedly supported by over 1,700 U.S. banks, and ostensibly allows for purchases to be completed within five minutes.
In a statement, Aaron Lasher, BRD’s chief strategy officer and co-founder, said that the new service aims to ensure that the blockchain sector remains decentralized and inclusive. He alleged that currently major crypto wallet providers are turning to more custodial and centralized structures.
The press release claims that BRD — which was founded in 2015 — has over 2 million customers across 170 countries, and has seen its period of most intensive growth this year.
During the first 4 months of 2019, the firm claims to have doubled the number of transactions as well as the number of users exchanging crypto assets. The firm also estimates that it has $6 billion worth of crypto assets under protection.
Wyre, for its part, has reportedly traded over $3.5 billion in crypto assets and completed over $1 billion in commercial FX payments using crypto as a rail. Having established a network of relationships with banks and crypto exchanges, Wyre’s API facilitates fiat-crypto conversion in over 50 countries, and supports eight national fiat currencies and three cryptocurrencies.
In January of this year, Switzerland-based Falcon Private Bank introduced support for direct transfers and storage of select cryptocurrencies, as well as fiat-crypto conversion services.
