How we are regulated?

Region: Eea & Switzerland

Upd: Aug 25, 2021

Depending on where you are ordinarily resident, different Wirex entities with different regulatory permissions may provide certain services to you. Check below for more information.

UAB Wirex (Registration Number: 305118023), whose registered office is Perkūnkiemio g. 13 – 91, Vilnius, Lithuania provides traditional currency services. UAB Wirex is an authorised distributor of UAB Payrnet (CRN 305264430), whose registered address is Girulių g. 20, 12123, Vilnius, Lithuania. UAB Payrnet is authorised by the Bank of Lithuania (“BoL”) (Authorisation Code LB001994) as an e-money institution.

Your traditional currency is safeguarded as e-money in accordance with our regulatory obligations. No deposit insurance or protection schemes apply to services provided by UAB Wirex.

Cryptoasset services are not provided by UAB Wirex. Cryptoasset services are provided by Wirex Ireland Limited, which has applied for registration as a Virtual Asset Service Provider (‘VASP’). The Central Bank of Ireland (‘Central Bank’) is the competent authority in Ireland with responsibility for the AML/CFT registration and supervision of VASPs under the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2021, as amended (‘CJA 2010 to 2021’). It is important to note that a registration as a VASP is a registration for Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) purposes only. While Wirex does have certain financial crime control obligations under this registration, cryptoasset services remain largely unregulated. Please review our terms and conditions to learn more about the risks associated with cryptoassets.

If you have any questions or concerns about our regulatory status, please contact us.

The table below explains which of our services are and are not regulated. It also explains some of the consequences for the protections which do and do not apply as a result.

Traditional (Fiat) Currency (e.g. EUR) Cryptocurrency, Cryptoassets or Digital Assets (e.g. BTC, LTC, ETH)

Regulatory Framework and

Legal Entity

Regulated by the BoL and provided by UAB Wirex Not regulated by the BoL and provided by Wirex Ireland Limited
Funds and Assets
  • Adding traditional currency to your Wirex account
  • Withdrawing traditional currency from your Wirex account
  • Holding traditional currency in your Wirex account
  • Sending or receiving traditional currency to/from another Wirex customer or third parties
  • Exchanging traditional currency for other traditional currency
  • Exchanging traditional currency for cryptocurrency and vice versa
  • Exchanging one cryptocurrency for another cryptocurrency
  • Holding cryptocurrency in your Wirex account
  • Transferring or receiving cryptocurrency to/from another Wirex customer a third party, or an external wallet
Wirex Card
  • Using your Wirex Card
The Wirex Card is an e-money product and fully regulated by the BoL
X-Accounts X-Accounts are a crypto-feature and are not regulated by the BoL Making, adding, withdrawing, or earning interest from X-Accounts
X-tras All non-crypto aspects of X-tras, such as fees, limits, and pricing related to your Wirex Account All crypto aspects of X-tras, such as WXT, Cryptoback™ rewards, and the Savings Bonus

Custody & Protection of Funds

and Assets

Your traditional currency is safeguarded via a segregated bank account in accordance with our e-money obligations. Your cryptocurrency is held by us with a secure cryptocurrency custodian.
Complaints Wirex will deal with your complaints in accordance with our Complaints Process here. For matters related to fiat currency services, if you are not satisfied with our handling of your complaint you may contact the Bank of Lithuania by completing a Consumer Application Form and sending it to the Supervision Service of the Bank of Lithuania, Žalgirio g. 90, LT-09303, Vilnius, email: Wirex will deal with your complaints in accordance with our Complaints Process here. For matters related to cryptocurrency services, you will NOT be able to refer your complaint to any regulatory body.
Compensation No access to any deposit insurance or compensation scheme. No access to any deposit insurance or compensation scheme.

You should assess carefully whether your financial situation and tolerance for risk is suitable for any transactions you undertake using the Wirex Service. Remember, you are responsible for conducting your own research before carrying out any transactions through the Wirex Service.

Cryptoassets involve significant risk. Prices of cryptoassets are extremely volatile and change constantly. Most cryptoassets are not issued by a central authority and are largely unregulated in most jurisdictions.