Wirex Eyes Mainstream DeFi with Avalanche Integration
Avalanche is now accessible to 4.5 million users across Wirex App, Wallet & Payment ecosystem.
Wirex, a crypto-friendly payments app, has expanded its ecosystem to enable 4.5 million users to access the Avalanche blockchain and tokens in the recently launched Wirex Wallet and award-winning app. By adding support for Avalanche natively in the application, Wirex is enabling mainstream users to access DeFi easier than ever before. Starting today, Wirex app users will be able to purchase AVAX with their debit/credit card with the best in-market rates, seamlessly exchange it, and easily send and receive AVAX to and from any other wallet.
Linked up to a crypto-enabled debit card, heralded the first of its kind, users can spend AVAX plus up to 61 crypto and traditional currencies on the Wirex platform, at over 61 million locations globally. Having recently launched their popular DeFi savings product, X-Accounts, users will also be able to earn up to 20% AER interest on AVAX, with no lock-up period, minimum holdings or monthly fees.
“Wirex continues to innovate and build partnerships that strengthen our offerings, and the addition of Avalanche is helping to develop use-cases for the Wirex ecosystem,” said Pavel Matveev, CEO and Co-Founder of Wirex. “Avalanche’s reputation for improving blockchain’s accessibility closely aligns with Wirex’s, where we can together help to offer users of all backgrounds more choice and flexibility over how they wish to use crypto.”
Both Ava Labs, a team supporting development of the Avalanche blockchain, and Wirex, have worked with renowned payment technology company, Mastercard, to help make this a reality. Wirex became the first crypto-native principal member in 2020, and Avalanche became a member of their Mastercard Start Path Crypto engagement program in December 2021.
Wirex’s arrival in the US in January enables tens of millions of crypto users in America to access these new features, as well as the Polygon, Binance Smart Chain and Fantom blockchains that launched globally on the Wirex Wallet at the same time. With the launch of the Avalanche blockchain, Wirex plans to add multiple Avalanche-based tokens to their platform next month, building on the 33 other tokens that Wirex have added since May.
Visit the Wirex site for more information on the Wirex integration.
* Earnings apply to fiat converted to stablecoins. Subject to T&Cs.
Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world’s first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.
Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains
With over 4.5 million customers across 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralised mobile app. Quick and simple crypto transfer options are available, as well as the freedom to spend 150+ traditional and cryptocurrencies in more than 61 million locations around the world using the Wirex card.
Wirex continues to develop the product in line with market developments, whilst adhering to regional regulations and securing appropriate licensing where it exists. A proven industry pioneer, Wirex launched their own native utility token, WXT, and introduced the world’s first crypto reward programme, Cryptoback™, which earns cardholders up to 2% back in WXT for every transaction they make.
To reflect the growth of the metaverse, throughout 2021, the company has expanded their product to enable mainstream access to DeFi. Starting with the launch of their popular X-Accounts feature, offering unprecedented levels of interest, Wirex has continued to add to their DeFi arsenal with the release of the non-custodial Wirex Wallet and a partnership with Nereus, a decentralised liquidity market.
Wirex is based in London, with offices in Singapore, Kyiv, Dallas, Dublin and Atlanta. With over $5bn worth of transactions processed already and rapid expansion into new territories, including the US, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions.
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Wirex Eyes Mainstream DeFi with Avalanche Integration was originally published in Avalanche on Medium, where people are continuing the conversation by highlighting and responding to this story.