Wirex adds Polygon blockchain to non-custodial wallet and app

Rick Steves

“The Polygon blockchain gives customers more flexibility to choose lower cost options within DeFi and crypto.”

wirex

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.

 

Read this next

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

Digital Assets

Coinbase scores minor victory vs SEC, but lawsuit to proceed

A federal judge in Manhattan, U.S. District Judge Katherine Polk Failla, ruled on Wednesday that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Coinbase can largely proceed.

<