Wayex
- Company typePrivate
- Founded2018
- HeadquartersSydney, Australia
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Wayex does
Wayex (formerly CryptoSpend) is a digital-first financial platform that converts stablecoin and fiat deposits into a unified USD balance accessible through a Visa debit card. Founded in 2018 in Sydney by Andrew Grech and Richard Voice, the company launched Australia's first crypto-linked Visa card in 2021 and rebranded as Wayex in 2024 ahead of a global expansion. Its core stack combines a custodial wallet supporting USDC, USDT, DAI, and PYUSD across 10+ blockchains with a prepaid Visa debit card issued by Lead Bank under Visa U.S.A. Inc. licensing and program-managed by Bridge (a Stripe company). Fiat on/off-ramps run over ACH, SEPA, Faster Payments, PIX, SPEI, and SWIFT, converging into a single USD balance that funds card spending at 200M+ merchants across 200 countries.
The product is delivered entirely through a self-serve iOS/Android app, with KYC completed in approximately two minutes and a virtual card pushed to Apple Pay or Google Pay within roughly five minutes of first open. Wayex generates revenue primarily through a 1.5% FX fee on non-USD card transactions, a 0.1% fee on USDT deposits, and an embedded yield spread on liquid balances (up to 5% APY) and fixed-term deposits (up to 20% APY via Kasu). All core account features (virtual card, USD spending, monthly maintenance) are free, and the platform operates across 160+ countries for onboarding with Visa card issuance live in 28 markets expanding toward 100+. Target customers are individual consumers — cross-border freelancers and remote workers, emerging-market users in inflation-hit or capital-controlled economies, and frequent international travellers — rather than enterprise accounts, with a non-primary segment of globally operating businesses using stablecoins for treasury and cross-border B2B settlement.
Wayex Global S.A. is incorporated in Panama, the legal entity that operates the global platform, while engineering and product development remain anchored in Sydney. The company has not disclosed any external funding rounds and appears to be founder-financed, operating with 11-50 employees and a partner-led distribution model that includes a recurring-revenue affiliate program in 25+ countries.
Wayex firmographics
Firmographics- Name
- Wayex
- Legal name
- Wayex Global S.A.
- Website
- https://wayex.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Wayex industry classification
Industry- Product category
- Stablecoin Payments Platform
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)
- akta.pro secondary industries
- On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), On/Off-Ramps & Fiat Liquidity Providers for Stablecoins (FSADADAG)
Keywords
Where Wayex is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Wayex business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Others
Revenue model
- Non-USD Foreign Exchange Fee: Wayex charges a 1.5% FX fee on non-USD transactions (i.e., when spending in a currency other than USD). This is the primary revenue line for transactions outside the US, covering the cost of currency conversion at the point of sale, card network interchange, issuer capital costs, program manager infrastructure, and compliance overhead.
- USDT Deposit Fee: A 0.1% fee is charged on USDT deposits to cover routing and conversion costs. DAI and USDC deposits are free (1:1, no fee). This is a unit-level fee on a specific stablecoin deposit path.
- Embedded Yield / Interest Spread: Users earn up to 5% APY on everyday liquid stablecoin balances and up to 20% APY on fixed-term products (powered by Kasu). Wayex likely generates revenue from the spread between the yield earned on underlying reserves/investments and the yield paid to users.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Virtual Card — Free |
| Unit Pricing | Monthly | Physical Card — Free |
| Other | Pay-as-you-go | Everyday Yield — Up to 5% APY |
| Other | Multi-year contract | Fixed-Term Deposits — Up to 20% APY |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Wayex product offering
Product offeringCore offering
Wayex provides a global stablecoin spending platform that converts deposits of USDC, USDT, DAI, and PYUSD across 10+ blockchains, alongside fiat via ACH, SEPA, Faster Payments, PIX, SPEI, and SWIFT, into a unified USD balance accessible through a prepaid Visa debit card and a multi-currency account. The card is issued by Lead Bank, program-managed by Bridge (a Stripe company), and push-provisioned instantly to Apple Pay or Google Pay for tap-to-pay at 200M+ merchants worldwide. Embedded yield on the balance (up to 5% APY liquid, up to 20% APY on fixed-term products via Kasu) and self-custody options round out the offering.
Product overview
Wayex is a digital-first financial platform that evolved from CryptoSpend (founded 2018 at University of Technology Sydney) into a global stablecoin spending solution. The core offering is the Wayex Global Platform combining a Global USD Account with the Wayex Stablecoin Visa Card—both accessible through the Wayex App. Users deposit stablecoins (USDC, USDT, DAI, PYUSD across 10+ blockchains) or fiat (USD, EUR, GBP, MXN, BRL via ACH, SEPA, PIX, SPEI, Faster Payments, SWIFT) which convert to a unified USD balance. This balance funds the Visa card for global spending and enables embedded financial services including Everyday Yield (up to 5% APY) and Fixed-Term Deposits (up to 20% APY via Kasu). The platform also includes an Affiliate Program for partner monetization and a Swap Feature for automatic crypto conversion. Wayex operates across 160+ countries with card issuance live in 28 markets.
Differentiator
Problem solved
Functional benefit
Products and services
- Wayex Stablecoin Visa Card Prepaid Visa debit card that converts stablecoin deposits (USDC, USDT, DAI, PYUSD) and fiat into a unified USD balance for spending anywhere Visa is accepted globally; available as free virtual card (instant issuance, push-provisioned to Apple Pay/Google Pay) and physical card. Issued by Lead Bank, program-managed by Bridge (a Stripe company). Targeted at individual consumers globally who need cross-border spending without FX fees.
- Global USD Account (Multi-Currency Account) Multi-currency account allowing users to hold and receive USD, EUR, GBP, MXN, and BRL via local banking rails (ACH, SEPA, Faster Payments, PIX, SPEI, SWIFT) or stablecoin deposits across 10+ blockchains, all converging into one unified USD balance. Free to open, no monthly fees. Targeted at non-US/non-EU residents who need a USD-denominated account and global payment card.
- Wayex Affiliate Program Recurring revenue share program allowing affiliates, creators, community leaders, and Web3 products to earn commissions on eligible fees from referred users; available in 25+ countries with tiered structures, real-time tracking dashboard, co-marketing playbooks, and crypto payouts. Targeted at creators, publishers, fintech affiliates, travel/nomad communities, DAOs, and regional KOLs.
Quantifiable outcome
- KYC completed in as little as 2 minutes; virtual card issued in seconds; full onboarding to first tap-to-pay in approximately 5 minutes
- +3 more outcomes
Companies that use Wayex
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles4 records
Wayex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration24 records
AI capability1 record
Feature6 records
Wayex partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and flagship.
- Bridge (a Stripe company)coreBridge Ventures LLC, a Stripe company, serves as the Program Manager responsible for managing and operating the Visa card on behalf of Lead Bank. Bridge handles the program infrastructure, card management, and operational settlement that enables Wayex to offer a globally accepted Visa debit card linked to stablecoin balances. This is the core technology and compliance layer of the card program.
- Lead BankcoreLead Bank is the licensed financial institution that issues the Wayex prepaid Visa debit card under licensing by Visa U.S.A. Inc. The card may be used everywhere Visa is accepted. Lead Bank is the legal card issuer, with Bridge acting as Program Manager and Wayex as the Platform Provider. This banking partnership is essential for the card's legal operation and Visa network access.
- KasuflagshipKasu powers the fixed-term deposit products on the Wayex platform, offering institutional-grade private credit products that provide users with higher, steady returns (up to 20% APY) compared to the everyday yield on liquid balances (up to 5% APY). This partnership enables Wayex to offer a tiered yield product suite.
Scale indicators9 records
Recent moves8 records
Expansion highlights5 records
Wayex competitors and assessment
Company assessmentDirect peers
- BitPay: BitPay is a crypto payments platform offering Visa prepaid cards, multi-chain stablecoin support, and merchant acceptance. It overlaps with Wayex on stablecoin-to-Visa spending and multi-chain wallet functionality.
- Crypto.com: Crypto.com offers a Visa debit card with crypto top-ups, yield products, and multi-currency spending. It is the largest scaled direct competitor to Wayex in the stablecoin-Visa card category and competes for the same cross-border and emerging-market user base.
- Bybit Card: Bybit offers a Visa debit card funded by crypto balances (including stablecoins) with global spending. It targets similar crypto-native users seeking spending utility, with comparable onboarding flow and yield positioning.
- Wirex: Wirex is a crypto-enabled payment platform offering a Visa debit card and multi-currency accounts across 130+ countries. Directly competes with Wayex on stablecoin-to-Visa spending, multi-rail deposits, and global user onboarding with a similar product surface.
- Nexo: Nexo offers a crypto-backed Visa/Mastercard with interest-bearing crypto balances, mirroring Wayex's combination of card + yield. It is a directly comparable product for users who want crypto exposure plus spending utility.
Broad incumbents
- Binance: Binance offers a crypto-linked Visa debit card in selected markets via licensed partners, plus extensive stablecoin trading and yield products. While Wayex is more focused on payments-only and emerging markets, Binance competes for the same crypto-spending user.
Emerging players
- Gnosis Pay: Gnosis Pay offers a self-custodial Visa debit card settling in EURe/GBPe stablecoins via the Gnosis Chain. Compares to Wayex on stablecoin-to-Visa spending with a different custody model and EU regulatory framing.
- Rain (Rain Financial): Rain is a licensed crypto platform in the Middle East and Turkey with a Visa card product and stablecoin balances. It is comparable to Wayex as an emerging-market-focused crypto card with regional licensing, though narrower geographically.
Others
- MoonPay: MoonPay is a fiat on/off-ramp and payments infrastructure provider that integrates with wallets and cards. It is an adjacent infrastructure layer used by Wayex's target users, and increasingly competes as a payment card program manager itself.
- Bridge (Stripe): Bridge is a Stripe-owned stablecoin issuance and card program manager that powers Wayex's Visa program. While not a direct competitor, it is an enabling infrastructure provider whose roadmap directly affects Wayex's product capabilities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Wayex social profiles
Digital presenceWayex compliance and trust
Trust signalCompliance2 records
Wayex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wayex leadership team
Management profileNumber of profiles
Profiles2 records
Wayex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wayex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wayex
What does Wayex do?
Wayex provides a global stablecoin spending platform that converts deposits of USDC, USDT, DAI, and PYUSD across 10+ blockchains, alongside fiat via ACH, SEPA, Faster Payments, PIX, SPEI, and SWIFT, into a unified USD balance accessible through a prepaid Visa debit card and a multi-currency account. The card is issued by Lead Bank, program-managed by Bridge (a Stripe company), and push-provisioned instantly to Apple Pay or Google Pay for tap-to-pay at 200M+ merchants worldwide. Embedded yield on the balance (up to 5% APY liquid, up to 20% APY on fixed-term products via Kasu) and self-custody options round out the offering.
Is Wayex a public or private company?
Wayex is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Wayex founded?
Wayex was founded in 2018. It employs 11 to 50 people.
Where is Wayex based?
Wayex is headquartered in Sydney, Australia, in the Oceania region.
How does Wayex make money?
Three revenue lines are on record. Non-USD Foreign Exchange Fee is the primary driver. The others are USDT Deposit Fee and embedded Yield / Interest Spread.
Who are Wayex's main competitors?
Direct peers on record are BitPay, Crypto.com, Bybit Card, Wirex and Nexo. Binance is listed as a broad incumbent. Emerging players are Gnosis Pay and Rain (Rain Financial). Others are MoonPay and Bridge (Stripe).
Does Wayex have an API?
Yes. Wayex enables API access and third-party integrations for qualified partners. The API supports integration risk disclosures documented in the Risk Disclosure Statement, indicating webhook-based event handling for card transactions, compliance screening, dispute handling, and Travel Rule data sharing with VASPs. KYC/AML vendors and blockchain analytics are integrated for identity verification and fraud prevention. No public developer documentation URL found.
What industry is Wayex in?
Wayex's product category is Stablecoin Payments Platform. Its primary akta.pro industry code is BPAMAFAL, Crypto Payments & Stablecoin Settlement Platforms, with a secondary code of FSAGAMAD, On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury). Its NAICS code is 522320 and its SIC code is 6199.