Wirex enters Vietnam, the #1 country in crypto adoption

Rick Steves

The X-Accounts feature has also been rolled out to an additional 81 countries that can now access the benefits of DeFi at their fingertips.

Wirex has launched its crypto platform in Vietnam as the London-based company rapidly expands its popular X-Accounts feature to more than 130 countries, including India, Ukraine, and Russia.

The crypto payments firm bridges the gap between the traditional and digital economies, offering users the ability to buy, hold, exchange and sell up to 43 traditional and cryptocurrencies.

Its customer base has nearly reached the 4 million milestone as users spend crypto at over 61 million locations globally using the Wirex card.

Wirex is a pioneer in crypto-enabled debit cards and cryptocurrency rewards programs, which brought recognition as an innovator within the digital asset space.

Now, as part of its increased offerings in the Asia Pacific region, Wirex has entered Vietnam, a country where crypto adoption has gone quite mainstream.

The 2021 Global Crypto Adoption Index by Chainalysis points to Vietnam as the number one country in the world by crypto adoption.

The rankings have three component metrics that make up the overall rankings: on-chain value received (#4), on-chain retail value received (#2), and P2P exchange traded volume (#3).

Wirex has made it easier for customers to fund their accounts by allowing top-ups using domestic bank-issued credit or debit cards.

This will enable them to seamlessly buy and exchange 30+ cryptocurrencies at exclusive OTC rates within the app, as well introducing the ‘Send Money to Contacts’ feature linking their phone address book for sending cryptocurrency.

The X-Accounts feature has been rolled out to an additional 81 countries that can now access the benefits of DeFi at their fingertips.

X-Accounts enables customers to earn up to 16% interest back on their funds, with zero fees, the ability to withdraw at any time and no minimum deposit.

Proving incredibly popular, as of September 2021, over $40 million has already been deposited in X-Accounts, which is expected to skyrocket as they introduce this offering to more people.

Pavel Matveev, the CEO and Co-Founder of Wirex, said: “Since founding the company in 2015, we’ve endeavoured to become the leading crypto payments platform. Growing the number of people that can access our revolutionary services and developing the range of services on offer will only solidify this vision further.”

“We’re now empowering even more people around the globe to utilise crypto in the everyday by democratising access to our industry-leading product. For countries such as India, Nigeria and Benin with a large population of unbanked, we expect there to be a huge demand for Wirex’s services as we help to bring these people into the financial system.”

Wirex has recently added 15 new crypto, including many that dominate the DeFi space: UMA, OMG, BAT, SUSHI, BAT, COMP, 1INCH, and others as well.

Read this next

Digital Assets

Silvergate dismisses speculation of trouble, says BlockFi exposure is minimal

Crypto-friendly bank Silvergate Capital claimed on a Tuesday blog post that it had minimal exposure to crypto lender BlockFi, which filed for chapter 11 bankruptcy protection this week.

Retail FX

Fidelity launches crypto trading for retail investors

Fidelity Investments, one of the largest brokerages in the world, has officially rolled out a commission-free crypto trading product for retail investors, starting with zero-fee trading for Bitcoin and Ethereum.

Digital Assets

ECB head calls for tougher crypto regulation after FTX collapse

President of the European Central Bank, Christine Lagarde, has called on lawmakers to start working on fresh crypto regulations to protect the financial system after the collapse of the FTX exchange.

Retail FX

CySEC updates rules for regulated brokers’ cross border activity

As CySEC’s attitude of adopting more stringent licensing guidelines and operating regulations becomes ever clearer, certain aspects of the rules and operations start to come into sharper focus.

Market News

Outlook for Gold: Can the Precious Metal Regain Power?

Gold set an all-time high at $2070 on March 08, 2022, when the price skyrocketed amid investors’ worries about the military conflict in Eastern Europe.

Crypto Insider

2022 Islamic Finance recap: as the space continues to evolve, blockchain stands to play a big part

Despite the global economy being ravaged by turmoil induced by the Covid-19 pandemic over the last couple of years, the Islamic finance industry has emerged relatively unscathed

Crypto Insider

Decentralized Exchanges and Pooled Trading Platform Applications

Decentralized exchanges are one-way blockchain companies take back the power of value creation.

Crypto Insider

How to maximize the safety of your digital tokens?

Digitalization is the future of the investment world. These are the most preferred and growing investments in the world.

Institutional FX, Interviews

FIA EXPO 2022: Interview with Trading Technologies

The derivatives trading industry has gathered in Chicago to attend the FIA EXPO 2022 on 14-15 November. 

<