Wirex introduces crypto wallet for the masses

Rick Steves

The Wallet offers cross-chain compatibility across the Bitcoin and Ethereum blockchains, with expansion to faster, cheaper Layer 2 networks in the pipeline.

Wirex has launched its “mass-market non-custodial” crypto wallet in a move that solidifies the crypto-friendly digital payments company’s position in digital assets and DeFi.

The Wirex Wallet is available to download from app stores and allows users to manage more than 100 different cryptocurrencies from their mobile device.

Cross-chain and keyless crypto wallet

Pavel Matveev, Co-Founder and Chief Executive Officer said the Wirex Wallet will give a new generation of users access to DeFi by including unique features that make it easier and more secure than ever to use.

The firm believes mass adoption of DeFi is only a question of time and its “cross-chain, keyless, highly secure Wallet” will help bring decentralized finance to the mainstream.

This app does not require a private key as its multi-party computation technology ensures resilient security and compliance, rendering complex seed phrases and private keys unnecessary. Instead, it will rely on biometrics for access.

“Wirex is always looking for ways to make digital currencies more accessible and we believe this Wallet is a world-first in making that a mainstream reality. We want to give crypto users access, flexibility and control over their holdings without worrying if their funds are safe, losing their private key, high gas fees or the need to spread their tokens across different apps and platforms”, Wirex chief executive Pavel Matveev commented.

The high fees on the Ethereum blockchain and fragmented liquidity across different blockchains is a turnoff to potential DeFi users, who are priced out of the opportunity.

The Wallet offers cross-chain compatibility across the Bitcoin and Ethereum blockchains, with expansion to faster, cheaper Layer 2 networks in the pipeline.

The interoperability offered by the Warex Wallet allows users to swap DeFi tokens across blockchains with unparalleled ease, offering access to a wider pool of tokens, technologies and use cases within a single wallet, the firm states.

“We’ve made a series of major announcements in 2021 that creates a full ecosystem for every kind of cryptocurrency user”, Matveev continued.

“Our crypto-enabled Wirex app and card is available in three regions across the world, our CeFi offering – X-Accounts – was recently expanded to an additional 81 countries, and the Wirex Wallet will be available globally, putting a Wirex product in reach of everyone on the planet. That level of accessibility is what really excites us about this launch.”

100 cryptos, DeFi, NFTs, savings

• Ability to manage over 100 cryptocurrencies
• Easy access to DeFi and NFTs
• No need for a private key, seed phrases or prior Wirex membership
• Simple purchases of WXT and other crypto using debit and credit card
• Cross-chain swaps across Bitcoin and Ethereum blockchains, with expansion to Solana and other blockchains on the roadmap
• Resilient security measures including sophisticated SMPC encryption and privacy-first anonymous biometric backups
• Low blockchain fees
• Available to download from the Google Play and App Store

In December 2021, the company announced a new whitepaper, widening the use cases of Wirex’s WXT, as well as announcing a 5 billion WXT investment in new DeFi protocol, Nereus.

Earlier this year, the company launched a DeFi savings product, X-Accounts, which enables users to earn up to 16% APR interest on both fiat and crypto funds. The Wirex Wallet will empower users to access even higher rates of APR interest – up to 25%.

For the Wallet, Wirex will soon introduce the ability to send and receive NFTs, as well as expand compatibility with the Solana blockchain.

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