Tue. May 28th, 2024

TLDR: Wirex Introduces WPay, a Decentralized Payment Network

Wirex, a Web3 fintech app, has launched WPay, a decentralized payment network that aims to provide a smoother and more secure payment experience. WPay allows users to have direct control over their assets through the WPay Card, mitigating counterparty risk. The card can be used at over 50 million merchants in more than 200 countries. Wirex, which serves over 6 million customers across 130 countries, aims to drive the mass adoption of a cashless society by facilitating easy crypto and traditional currency transactions worldwide.

Key points:

  • Wirex has introduced WPay, a decentralized payment network that solves problems related to intermediaries, custody risks, and slow, expensive settlements
  • With WPay, users can gain direct control over assets through the WPay Card, mitigating counterparty risk
  • The card can be used at over 50 million merchants in more than 200 countries, providing users with a smoother and more secure payment experience
  • Wirex aims to drive the mass adoption of a cashless society by facilitating easy crypto and traditional currency transactions worldwide

Wirex CEO and co-founder, Pavel Matveev, stated that WPay is bridging the gap between digital assets and everyday transactions. Wirex, founded in 2014, is a global leader in digital payments and serves over 6 million customers across 130 countries. The company offers secure accounts for seamless storage, purchase, and exchange of multiple currencies. With the introduction of WPay, Wirex aims to provide mainstream access to decentralized finance (DeFi) and wealth management. The company’s ultimate goal is to drive the mass adoption of a cashless society by simplifying financial interactions.

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