Jan 31, 2024   SOURCE: PR NewsWire

Wirex Reveals ZK-powered WPay, Opening Exclusive Early Access to Its Decentralised Payment Network

LONDON, Jan. 31, 2024 /PRNewswire/ -- Wirex, a leading Web3 money app, is excited to introduce an exclusive early access to WPay, a decentralised payment network, utilising the capabilities of the award-winning Wirex platform.

WPay solves problems related to intermediaries, custody risks, and slow, expensive settlements. With WPay, users can enjoy a smoother and more secure payment experience, marking a significant advancement in simplifying financial interactions.

Targeting decentralised applications, non-custodial wallets, and DAOs, WPay provides a transformative solution in the digital finance landscape.

Key value propositions of WPay:

    --  Self-Custody: Gain direct control over assets with the WPay Card,
        mitigating counterparty risk.
    --  Digital Asset Flexibility: Easily manage digital assets, lending, and
        borrowing.
    --  Uncompromised Security: Enjoy the highest security standards for peace
        of mind.
    --  Instant Spending: Utilise crypto as simply as cash, accepted by over 50
        million merchants in more than 200 countries.

With the WPay self-custodial debit card, users can spend their digital assets in the traditional economy through the WPay network. Accepted by over 50 million merchants in more than 200 countries, the card enables users to have direct control over their assets, ensuring no counterparty risk.

Pavel Matveev, CEO and Co-founder of Wirex, comments, "WPay revolutionises digital asset use in daily life, seamlessly merging them with traditional transactions. Bridging the gap between digital assets and everyday transactions has been challenging. WPay represents a significant advancement, allowing individuals to use digital assets for everyday purchases and services. This ushers in a new era of practical cryptocurrency use beyond mere investment."

How it works:

    --  Sign Up and Set UpRegister with WPay and set up your unique Spending
        Account Abstraction (AA), integrating it with your Externally Owned
        Account (EOA) wallet.

    --  Gain Full ControlEnjoy complete self-custody of your funds, ensuring
        security and freedom from third-party custody.

    --  Customise and SecurePersonalise your spending limits and preferences.
        Transactions are authorised based on your balance and limits,
        prioritising security.

    --  Seamless Financial OperationsExperience efficient transaction settlement
        in fiat currency with card schemes, streamlined for smooth financial
        management

For additional information, visit https://wpaychain.com and follow https://twitter.com/wpaynetwork

Press Kit: https://files.wirexapp.com/wirex_press_kit_2023.zip

Notes to editors:

About Wirex

Wirex, a global leader in digital payments, revolutionised the financial landscape in 2015 with the introduction of the first crypto-enabled card.

As a Visa and Mastercard principal member, Wirex serves over 6 million customers across 130 countries, offering secure accounts for seamless storage, purchase, and exchange of multiple currencies.

Expanding beyond traditional offerings, Wirex embraces Web3 trends, providing mainstream access to DeFi and wealth management. With $20 billion in transactions processed, Wirex aims to drive the mass adoption of a cashless society by facilitating easy crypto and traditional currency transactions worldwide.

Founded in 2014 by Pavel Matveev and Dmitry Lazarichev, Wirex strives to make cryptocurrencies accessible for everyone, with a presence in London and offices globally.

Diana Velychko, +380666186191, diana.velychko@wirexapp.com

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SOURCE Wirex