The Wirecard saga, what comes next and what it means for the crypto space
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Quick Take
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Scandal-hit Wirecard’s future is in doubt, say several fintech and payment experts who spoke with The Block.
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The crypto space, however, appears to remain unaffected for now, even though it suffered hiccups for a limited period last week when the U.K. FCA temporarily suspended Wirecard’s subsidiary in the country.
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Many Wirecard clients are looking to migrate to new vendors, according to experts. One company, which appears to gain the most from the Wirecard saga in the crypto market, is Contis.
- Contis CEO and executive chairman Peter Cox told The Block that the firm has issued over 500,000 crypto debit cards to date via its clients and is set to partner with more crypto firms of “significant size.”
Many Wirecard clients are looking to migrate to new vendors, according to experts. One company, which appears to gain the most from the Wirecard saga in the crypto market, is Contis.
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