TL;DR Breakdown
- Users of Wirex’s App, Wallet, and Payment System can now use the Avalanche blockchain.
- Wirex has a 4.5 million user base in more than 120 countries.
According to a recent report, the Avalanche blockchain is now accessible to 4.5 million users across Wirex’s App, Wallet, and Payment System. The Wirex payments app has grown its ecosystem enabling its consumers to use the Avalanche blockchain and expand their financial portfolios.
Wirex branches into DeFi services
Wirex is a global digital payment system that has broken new ground in electronic payments. In 2015, Wirex created the world’s first crypto-enabled payment card, allowing consumers to use their bitcoin and fiat currency in real life. It is a trailblazer in cryptocurrencies, with a large user base that enables them to utilize the DeFi ecosystem.
For the first time today, Wirex app users will spend AVAX thanks to excellent market rates. Users can also trade it, send and receive AVAX from any other wallet, and exchange it for other cryptocurrencies. Importantly, individuals will have access to cheaper gas costs and the option of adding their custom tokens.
Wirex is a card that allows you to spend crypto, as well as fiat currencies. It’s available in over 120 countries, including the United States. It aims to provide all people with access to the benefits of cryptocurrency and distributed ledger technologies. The recent collaboration between the platform and Avalanche advances this goal even further.
The platform’s users can now use their cards to withdraw funds at over 61 million locations worldwide, thanks to the integration of 62 cryptocurrencies. With their popular saving product X-Accounts, Users will be able to earn up to 20% AER interest on AVAX, without a lock-up period, monthly fees, or minimum holdings.
John Wu, president of Ava Labs, the firm that created the AVAX blockchain, had this to say regarding the recent developments: “Wirex is moving fast to make digital assets and the innovation happening on public blockchains more accessible to the masses.”
Additionally, the platform`s CEO and co-founder Pavel Matveev provided optimistic comments saying that “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, especially around improving blockchain accessibility.”
The integration advantage
The crypto community embraces Avalanche, which promises to be one of the most secure smart contracts platforms on the market. It uses a proof-of-stake protocol to complete transactions quickly with no errors.
In 2020, Wirex became a crypto card provider for MasterCard. In December 2021, Avalanche joined the MasterCard Start Path Crypto engagement program. Their collaboration has established the pace for crypto payments usage throughout the world.
Customers in the United States now have access to the platform`s new services, including instant cryptocurrency purchases and deposits. Users can also utilize its wallet to access Polygon, Binance Smart Chain, and Fantom internationally.
The platform also offers its cryptocurrency, WXT, as well as a crypto reward program that rewards cardholders with up to 2% back in WXT for each transaction they make. Since 2014, the platform has processed more than $5 million in transactions.
