interest-in-x-accounts-skyrockets-as-wirex-lists-15-new-coins-on-platform

Interest in X-Accounts Skyrockets as Wirex Lists 15 New Coins on Platform

Wirex, the leading digital payments platform enabling everyone to access the benefits of blockchain technology, has added 15 new coins to their platform. The news follows the recent addition of their X-Accounts feature, which has now seen nearly $10 million worth of funds secured in them.

Since inception in 2014, Wirex have been on a mission to enable users of all abilities to easily buy, hold, exchange and sell crypto. With an explosion of interest in the decentralised finance (DeFi) space in recent years, Wirex have sought to develop their product to give nearly 4 million customers worldwide the ability to take advantage of this.

Since 7th June, Wirex have added 15 tokens from some of the most popular DeFi players*. These include Universal Market Access (UMA), OMG Network (OMG), Basic Attention Token (BAT), 0x (ZRX), Synthetix (SNX), FTX Token (FTT), Loopring (LRC), Kyber Network (KNC), Curve (CRV), Compound (COMP), SushiSwap (SUSHI), Augur (REP), Bancor (BNT), Balancer (BAL) and 1INCH. In May, the company announced that they had launched Aave (AAVE), Maker (MKR), Chainlink (LINK), Uniswap (UNI) and Yearn.Finance (YFI).

Since then, Wirex has made headlines globally after releasing their game-changing X-Accounts feature on the platform. Solidifying their endeavour to become one of the world’s most accessible interest-paying accounts ever, the company has already seen nearly $10 million worth of funds stored in across more than 12,000 accounts, which continues to grow at an astronomical rate. Unprecedented when compared to competitors and high-street banks, it offers users the ability to earn up to 16% interest back and demonstrates the staggering demand for next-generation DeFi services.

Pavel Matveev, CEO and Co-Founder of Wirex, said that: “Democratising access to crypto, and now DeFi, has always been at the heart of Wirex, and no better has this been demonstrated by the huge excitement of our customers over the last few months. The rollout of tokens from leading DeFi projects, as well as the incredible popularity of X-Accounts has cemented our position as a market-leader, and we hope to continue to innovate to ensure our commitment to the digital economy.”

bringing-defi-to-the-masses:-launch-of-x-accounts-&-fireblocks-partnership

Bringing DeFi to the Masses: Launch of X-Accounts & Fireblocks Partnership

 

Digital payments platform, Wirex, has announced the launch of their game-changing X-Accounts feature, and partnership with Fireblocks, an industry-leading crypto provider. Set to become one of the world’s most accessible interest-paying accounts, X-Accounts will allow users to earn up to 16% on their crypto and fiat funds*.

Wirex’s long-term goal has been to make crypto ‘open to all’, offering the ability to utilise crypto in the everyday with the world’s first crypto-enabled debit card. With decentralised finance (DeFi) becoming hugely popular in recent months, the latest announcement will open up the often complex and expensive DeFi space to everyone, from hardcore crypto investors to casual, everyday users, and bring the benefits of DeFi to the mass market.

X-Accounts will allow customers to earn unprecedented levels of interest on both fiat and crypto funds* when compared to competitors and high-street banks. Avoiding the expensive fees and complicated processes often associated with DeFi and yield farming, users will have the ultimate control over their funds, with instant access, no minimum holdings and no maintenance fees for each pot.

Combined with Wirex’s other market-leading benefits, the addition of X-Accounts reaffirms the company’s vision to become the go-to crypto platform for users of all abilities. This includes consistently low fees, exclusive interbank and OTC exchange rates, free international ATM withdrawals, up to 2% Cryptoback™ rewards on card purchases, and the ability to hold multiple crypto and fiat accounts with a single intuitive app.

Further removing the complexity and trust issues often associated with owning a crypto wallet, Wirex have also announced the upcoming integration with Fireblocks’ enterprise technology to offer maximum security of user’s funds. Developing Wirex’s reputation for regulatory compliance and customer safety, the partnership will give Wirex up to $30 million of insurance on crypto assets.

Pavel Matveev, CEO and Co-Founder of Wirex, said that: “X Accounts will give everyday users easier than ever access to DeFi, offering quick cryptodeposits and high interest rates on anyone’s fiat and crypto holdings, meaning customers can sit back and watch their assets grow like never before. By working with Fireblocks to offer secure, scalable and built-in compliance protocols, customers can use X-Accounts without worrying about the risk that’s often found with many DeFi products.”

Michael Shaulov, CEO and Co-Founder of Fireblocks, describes the technology’s significance: “Maximising digital asset security is extremely important with this level of operational scale and efficiency, especially when it comes to DeFi. Building on top of the Fireblocks platform will bring an additional layer of security to Wirex’s customers as they become a part of the growing DeFi ecosystem.”

The latest news has further solidified Wirex’s support for the DeFi space, following a series of important announcements. In May, Wirex migrated 20% of their native token, WXT, to the Ethereum blockchain, and recently hosted an exclusive NFT giveaway. Since then, they’ve launched multiple ERC-20 tokens on the platform, including UNI, AAVE and MKR, with plans for many more.

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.

fintech-wirex-wins-court-ruling-in-favour-of-cryptoback-trade-mark

Fintech Wirex Wins Court Ruling in Favour of Cryptoback Trade Mark

 

Wirex, a leading digital payments platform, has succeeded in its High Court trade mark infringement claim regarding their UK registered trade mark for Cryptoback™, which is used in conjunction with Wirex’s popular crypto rewards scheme.

The victory is against Cryptocarbon Global Ltd, Cryptocarbon UK Ltd and Bee-One UK Ltd in respect of their unauthorised use of the Cryptoback™ trade mark. Mr. Subash Manuel, a director of these companies, was held jointly liable for the infringing activities of Cryptocarbon Global Ltd and Cryptocarbon UK Ltd.

Wirex is an innovative crypto payments platform, giving customers the ability to buy, hold, exchange and sell up to 20 traditional and cryptocurrencies from a centralised, intuitive app. Cryptoback™ is one of Wirex’s most popular features, and the company is proud to have been the world’s first to offer a cryptocurrency rewards scheme. The programme automatically rewards customers up to 2% back in WXT, Wirex’s native token, for using their crypto-enabled debit card in-store or online.

Wirex issued its claim for trade mark infringement in September 2019 after discovering that the defendants were using the Cryptoback™ name in conjunction with a cryptocurrency rewards scheme. After a High Court trial in January this year, His Honour Judge Hacon found that Wirex’s Cryptoback™ trade mark was valid and infringed by the defendants, and all of their counterclaims (including to invalidate the Cryptoback™ trade mark) were dismissed.

The news comes at a significant time for Wirex, as they release a product overhaul, including their X-tras rewards programme. Building on the success of the crypto-rewards scheme and rewarding loyal customers, it offers enhanced Cryptoback™ rewards and up to 12% annual Savings Bonus on users WXT balance*. Last week, the company also announced their brand new crypto-enabled and multicurrency Mastercard debit card in the UK and EEA regions, with real-time point-of-sale conversion, exclusive interbank and OTC exchange rates, free international ATM withdrawals, zero monthly fees and free fiat-to-fiat exchanges.

Dominique Simon, Global General Counsel at Wirex remarked, “We are delighted that the Court has found in our favour after a long and hard-fought battle against these infringers. We would like to thank our legal team, Andrew Norris QC (Hogarth Chambers) and Brown Rudnick LLP, for all of their fantastic work in helping to deliver this outcome. We look forward to developing and expanding our Cryptoback™ program in the UK and worldwide, along with other exciting innovations. ”

Read the full judgment here: https://www.bailii.org/ew/cases/EWHC/IPEC/2021/617.html

To find out more about the new X-tras scheme, visit: https://wirexapp.com/blog/post/a-new-era-wirex-x-tras-programme-0280

To find out more about how Cryptoback™ works, visit: https://www.youtube.com/watch?v=J8QWzMUglbU

wirex-partners-with-zero-hash-ahead-of-us-launch

Wirex Partners with Zero Hash Ahead of US Launch

 

Digital payments platform, Wirex, today announced their partnership with Zero Hash to support their upcoming US launch. This will allow Wirex to launch their revolutionary product across the United States in April, giving over 300 million Americans instant access to crypto.

Utilizing the services of Zero Hash, a crypto trading infrastructure platform owned by Seed CX, Wirex, the London-based fintech will now be able to launch fully into 51 jurisdictions in the US.

The companies are shared advocates of the mass adoption of the digital economy. They also share the mission of empowering everyone to have straightforward access to crypto.

Wirex serves nearly 3.5 million people across more than 130 countries, in which they offer an award-winning product that allows users to buy, hold, exchange and sell up to 20 different traditional and cryptocurrencies from a single, and intuitive app. This is linked to a contactless crypto-enabled debit card, giving users the ability to spend crypto in over 61 million locations globally.

Wirex made headlines recently, by becoming only the second crypto-enabled company to receive Visa principal membership, and have imminent plans to launch X-Tras, upgrading their rewards scheme, Cryptoback™. The feature will reward users up to 2% back in WXT on any purchases with their Wirex card.

Harold Montgomery, Managing Director of Wirex USA, has been leading the partnership and expressed his excitement about the upcoming launch: “Wirex has already proven hugely popular in other countries across the globe, so it’s exciting that we have reached one of our last big milestones in the run up to our US launch. It’s integral that we carefully select reliable and experienced partners such as Zero Hash for this to ensure that the Wirex product continues to give everyone cheap, seamless and safe access to crypto.”

This was complemented by Edward Woodford, CEO of Zero Hash, who said: “We are pleased that Zero Hash is powering Wirex’s US crypto expansion. Zero Hash provides the infrastructure enabling Wirex to rapidly expand into the United States, introducing an exciting product that is loved by clients globally to market there. Through the partnership, Wirex enables clients to seamlessly purchase and sell crypto, allows peer-to-peer crypto transfers and crypto rewards.”

With an ambition to reach 10 million customers by the end of 2021, the highly anticipated US-wide launch in April this year will play a key role in helping Wirex achieve this.

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.

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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.