Wirex adds Polygon blockchain to non-custodial wallet and app
“The Polygon blockchain gives customers more flexibility to choose lower cost options within DeFi and crypto.”
Wirex has added the Polygon blockchain to their recently launched non-custodial wallet and the Wirex app. Polygon joins the Wallet alongside the Ethereum, Avalanche, Binance Smart Chain and Fantom blockchains, as well as the Bitcoin and Ethereum blockchains on the app.
The crypto trading platform launched its mass-market non-custodial wallet at the end of 2021, complementing the Wirex app and crypto-enabled card with over 4.5 million customers.
The firm has plans to integrate further blockchains into the app later this year as users expand their choices in regard to decentralized finance and the digital economy.
Polygon: Low cost options within DeFi and crypto
Pavel Matveev, Co-Founder and CEO of Wire, stated: “At Wirex we want to give crypto users access to the best innovations within the sector, and implementing the Polygon blockchain gives customers more flexibility to choose lower cost options within DeFi and crypto. Wirexers will now be able to fully benefit from Ethereum’s network effects, whilst taking advantage of the next-generation security, user interface and features within the Wirex ecosystem.”
Arjun Kalsy, VP of Growth at Polygon, commented: “By adding Polygon, Wirex has ensured that users can enjoy ultra-low gas fees and swift transaction speeds, while still leveraging Ethereum’s robust security model.”
Polygon addresses issues with other blockchains hindered by network congestion, high gas fees, and slow transaction speeds, without forfeiting security.
The protocol aims to combine the best of Ethereum and sovereign blockchains to address to give users easier than ever access to DeFi.
The Wirex Wallet boasts a unique set of features including biometric security and complex seed phrases in place of a private key. Adding Polygon’s multi-chain system will give Wirex Wallet users access to one of the most versatile blockchains on the market.
The Wirex app is a digital payments platform linked up to a crypto-enabled debit card. The stablecoin BRZ (Brazilian Digital Token) will be the first token to launch in-app on the Polygon blockchain, with plans to migrate Polygon’s native token, MATIC, to that blockchain within Wirex after.
Wirex launched crypto app in the United States
Wirex has recently launched its services in the Unites States as the digital payments platform wants to reach millions more people and offer them easy access to crypto and fiat currencies.
Distribution has begun on its debit card across America following partnerships with Zero Hash, Checkout.com, Visa and Sutton Bank.
Well established in the European Economic Area (EEA) and the Asia Pacific, catering to more than 4.5 million users, the London-based company eyes the US launch as its natural next step as it targets a mainstream audience.
Wirex offers users the ability to buy, hold, exchange and sell US dollars as well as 37 different cryptocurrencies. The mobile app is linked to a contactless Visa debit card, allowing customers to spend their cryptocurrency* online and in-store at over 61 million locations globally.
Additional features include free domestic and international ATM withdrawals, no annual fee, zero exchange fees, near instant crypto transactions, and live transaction notifications.
Wirex has also released an upgraded rewards scheme, X-tras, as well as a DeFi-powered interest-earning product, X-Accounts, which will both be available in the United States.