fintech-wirex-adds-wxt-to-ethereum-in-defi-push

Fintech Wirex Adds WXT to Ethereum in DeFi Push

 

Digital payments platform, Wirex, has announced the migration of a fifth of their popular native token, the Wirex Token (WXT), from the Stellar Network to the Ethereum blockchain. Following the successful launch of WXT two years ago, Wirex will move 20% of the total supply to allow greater access to the benefits of decentralised finance (DeFi) for Wirex users and beyond.

The London-based company has been on a mission to bring decentralised digital currency to the masses since its launch in 2014. Innovation has been at the core of their growth, developing an industry-leading platform that empowers their 3.5 million customers to have easy access to crypto in everyday life. They’ve already made headlines for becoming the first company in the world to develop a crypto-enabled debit card, the first crypto rewards programme, Cryptoback™, and by becoming the first crypto-friendly company to achieve principal membership of Mastercard.

As the crypto space evolves and the use of decentralised apps (Dapps) explodes, today’s development endeavours to bring the benefits of DeFi to a mainstream audience. WXT will become a unique multi-blockchain cryptocurrency, as the company migrates 20% of its total supply (2 billion WXT) from the Stellar Network to the Ethereum blockchain. The move will present a huge range of benefits to holders of WXT, including increased power, efficiency and flexibility, whilst giving more people access to DeFi with the ability to utilise WXT on a multitude of Dapps.

Pavel Matveev, the CEO and Co-Founder of Wirex, commented on this landmark moment:

“Wirex without innovation isn’t an option. We’ve always believed in the potential for DeFi to change the way people think about and use money, and making WXT available on the most popular and powerful blockchain for DeFi applications is a no-brainer. At Wirex, our role is to make DeFi tangible, safe and accessible for our customers to use in real life. Listing a percentage of our WXT token on the Ethereum network will allow additional innovations for our customers.”

Wirex successfully launched WXT on the Stellar network in June 2019. As the go-to network for super-powered cross-border payments, the partnership helped Wirex to bring low-cost, near-instant payments to the mainstream. With blockchain technology having much broader applications than just payments, the decision was made to widen access to DeFi and allow customers to get more out of the Wirex platform. Matveev adds:

“As a crypto-friendly business, we don’t advocate any one platform or currency, rather the ability to choose the best financial products that match the needs of our customers.”

The announcement is just part of Wirex’s wider commitment to the DeFi movement and mass adoption of crypto. The company has plans to launch other DeFi features through 2021, including the addition of new DeFi coins on the platform, as well as the launch of X-Accounts which will enable passive income from crypto on pots of money set aside in-app.

More information about the addresses and exchanges listing WXT can be found at: wirexapp.com/blog/post/wxt-added-to-ethereum-in-defi-push-0313

crypto-friendly-fintech-wirex-temporarily-pauses-recruiting-new-uk-customers

Crypto-Friendly Fintech Wirex Temporarily Pauses Recruiting New UK Customers

 

The Fintech company Wirex has announced its decision to voluntarily pause new UK customers of its popular app as of 24th March 2021. The pause is a temporary measure and follows constructive dialogue with the Financial Conduct Authority (FCA), the UK regulator.

From this date, Wirex will temporarily pause accepting new clients who are resident in the UK. The company – which serves nearly 3.5 million customers worldwide – will dedicate resources to further strengthen its 5AMLD (Fifth Anti-Money Laundering Directive) compliance protocols, conforming with the updated best practice guidelines set by the UK regulator. As Pavel Matveev, Co-Founder & CEO of Wirex explains:

“As a fintech with a global outlook, we’re at the frontier of making cryptocurrencies accessible to the widest possible audience. The UK’s ‘5AMLD’ will help increase transparency in financial transactions. The FCA have, in dialogue with us, made suggestions on how we can implement changes to our operational procedures, which we welcome and intend to follow. We believe London is the capital of fintech and the FCA’s recommendations will help us create a stable environment to operate in. We fully endorse the Khalifa Fintech Review findings about growing the UK-based fintech ecosystem and see ourselves as an integral partner in achieving this. UK-based users keen to register for our app and card will be invited to join our waiting list during this temporary pause.”

A global business with offices around the world, Wirex has experienced explosive growth during the last two years, driven by its expansion worldwide and a heightened public interest in cryptocurrencies. The Wirex app allows users to buy, exchange and spend both cryptocurrencies and traditional fiat currencies in conjunction with a multicurrency payment card.

wirex-becomes-principal-member-of-visa-network-in-europe

Wirex Becomes Principal Member of Visa Network in Europe

Leading payments platform, Wirex, has become a principal member of Visa in Europe, a highly respected achievement for the London-based business with ambitious plans for 2021.

Having successfully completed Visa’s FinTech Fast Track Programme, Wirex have secured the sought after principal membership from the global payments company. Principal membership will allow Wirex to issue Visa cards themselves, offer new innovative products, and apply for additional licences.

The announcement comes at a pivotal time for the digital economy, with Bitcoin recently hitting its all time high1 and a series of large industry players recently showing support for cryptocurrency.

Wirex already offers their services to over 3 million people across the EEA and APAC regions, and research shows the use of crypto is continuing to grow2. Wirex themselves have experienced a 271% increase in the number of crypto exchanges on their platform compared to this time last year.3

“Digital currencies have the potential to extend the value of digital payments to a greater number of people and places,” said Cuy Sheffield, Senior Director and Head of Cryptocurrency, Visa. “We’re excited to work with innovative Fintechs like Wirex and enable their customers to use digital currencies at more than 61 million merchants on the Visa network.”

Pavel Matveev, CEO and Co-Founder of Wirex, said that: “It’s been our core goal to unite the traditional and digital economies, and collaborations with trusted global payments companies such as Visa are making this possible by providing straight and cost-effective solutions for utilising crypto in the everyday. It’s no easy feat to achieve principal membership and will present numerous opportunities to continue developing a revolutionary product.”

Wirex have had a long-standing partnership with Visa, having worked together to ensure Wirex was the first company in the world to issue a contactless crypto-enabled debit card in 20144. The card enables customers to seamlessly spend up to 20 traditional and cryptocurrencies at over 61 million locations globally. Linked up to a next-generation app where they can be bought, held, exchanged or sold, the company was also the first to develop a cryptocurrency rewards scheme, Cryptoback™, that rewards users up to 1.5% in Bitcoin for any purchases made with their debit card.

After a record-breaking crowdfunding campaign in October that raised nearly $5 million (US), the announcement rounds off a hugely successful year for the SBI group-backed company. With an overhaul of their rewards programme and launch in the US imminent, it’s thought that 2021 will be an even more extraordinary year for Wirex.

wirex’s-‘rising-women-in-crypto-power-list’-announced

Wirex’s ‘Rising Women in Crypto Power List’ Announced

 

Leading payments company, Wirex, in partnership with The Fintech Times, has revealed its 2020 ‘Rising Women in Crypto Power List’. After receiving 367 entries, the esteemed judging panel have chosen the 10 most inspirational women at the forefront of the crypto industry.

The ‘Power List’ was created as part of Wirex’s inaugural ‘Women in Crypto’ campaign, endeavouring to showcase the achievements of women in the field and inspire others to get involved. After the longlist was published last month, the judges narrowed it down based on nominees’ achievements, potential, leadership skills, ambition, influence and innovation in the crypto field. The winners come from a variety of backgrounds and include women working in events, research and content creation.

Wirex and The Fintech Times’ 2020 ‘Rising Women in Crypto Power List’ is (in no particular order):

  • Noelle Acheson, Director of Research, CoinDesk
  • Professor Tonya M. Evans, Professor, Penn State Dickinson Law
  • Lucy Gazmararian, Associate Director, PWC Crypto & Fintech Advisory
  • Susan Crew, Content Creator, “Crypto Granny”
  • Simone Maini, Chief Executive Officer, Elliptic
  • Inbal Polak, Director of Fund for Digital Assets, YRD Capital
  • Elizabeth Kukka, Executive Director, Ethereum Classic Labs
  • Sofie Blakstad, CEO, hiveonline
  • Christina Lomazzo, Blockchain Lead, UNICEF
  • Lenka Hudáková, Events Manager, Maker Foundation

The announcement comes during the final phase of the campaign, with a ‘Women in Crypto’ takeover of the Wirex channels taking place from the 26th October until the 8th November. This will feature content from women working at Wirex, as well as female influencers in the crypto and fintech fields. Contributors include: Ashley Koh, COO at Spark Systems, about what she’s learnt as a woman in fintech; George Coxon, COO at the Nano Foundation, with three things you didn’t know about Nano; and Erica Stanford, Founder of the Crypto Curry Club, with top tips for surviving networking events.

Wirex CEO and Co-Founder – and ‘Power List’ judge – Pavel Matveev, said: “We’ve been overwhelmed by the positive response we’ve received so far, and we’re delighted to finally reveal the ‘Power List’ top 10.”

The platform’s aim has always been to empower everyone to have access to cryptocurrency, leading Matveev to explain that “with so many inspirational women nominated, it was a difficult decision. But I’m confident that those picked represent the incredible talent of females in this field and I hope they inspire other women to be a part of this rapidly developing sector.”

The ‘Women in Crypto’ takeover will continue until 8th November with content being housed on the ‘Women in Crypto’ hub, and more information about the shortlist winners can be found on this link.