Wirex taps DEX aggregator Paraswap to improve price discovery
“We’ve begun growing the number of blockchains on the wallet to enable users to access more blockchains and tokens with less congestion, lower transaction fees and faster speeds, and a partnership with Paraswap will allow them to easily move between these at low costs.”
Wirex has partnered with Paraswap to make DeFi more accessible by using the DEX aggregator’s price algorithm and thus be able to seamlessly exchange multiple tokens, saving users large amounts of money and effort.
Paraswap has launched on the Wirex Wallet to enable users to easily swap their tokens at a low cost. Locating the best possible trading rate on various DEX, it will offer zero-commission swaps between tokens, making the Wirex Wallet more competitive.
Pawaswap more pertinent as Wirex expands blockchains on Wallet
Wirex is a non-custodial wallet launched in December 2021 after the overwhelming success of the Wirex app that boasts over 4.5 million customers.
The partnership with Paraswap has become even more pertinent as Wirex has sought to expand the blockchains on the Wirex Wallet, having recently announced the addition of the popular Avalanche, Polygon, Binance Smart Chain and Fantom blockchains.
Cross-chain compatibility thanks to a recent integration with Celer Network’s cBridge application complements the Paraswap partnership, by also allowing tokens to be exchanged between blockchains.
Pavel Matveev, CEO and Co-Founder of Wirex, commented: “For many years, it’s been difficult for everyday users to take advantage of DeFi and crypto. We’ve begun growing the number of blockchains on the wallet to enable users to access more blockchains and tokens with less congestion, lower transaction fees and faster speeds, and a partnership with Paraswap will allow them to easily move between these at low costs.”
Mounir Benchemled, Founder of ParaSwap, said: “We are delighted to partner with Wirex and help enable their large community of users to benefit from the rich opportunities offered by DeFi. Through this integration, we hope it provides an edge to the product and expands the fundamentals of DeFi to a new market segment.”
The crypto trading platform has also partnered with uTorg, a direct on-ramp for purchasing tokens directly on the blockchain within the Wallet.
Wirex has recently launched its services in the United 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.
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.