Wirex has revealed an early access launch of Wirex Pay, its blockchain-powered payment solution. In a press release published today, October 9, the web3 payment company announced that the platform is “now live for select whitelisted users.”
The Wirex Pay app is built with zero Knowledge (ZK) technology and allows users to pay directly from their non-custodial wallets using cryptocurrencies. It supports popular digital currencies, including Tether (USDT), USD Coin (USDC), and Dai (DAI).
Pavel Matveev, Co-Founder of Wirex Pay, emphasized that the launch marks a significant step forward in crypto payments by eliminating barriers between cryptocurrencies and daily transactions. “We’ve removed the barriers between crypto and everyday transactions, giving users the power to spend their assets freely and securely,” he stated.
Matveev expressed enthusiasm for providing early access to the community and looks forward to the widespread adoption of this new payment solution.
To obtain a non-custodial plastic or virtual card, Wirex noted that eligible users must complete a 10-step procedure, which includes Know Your Customer (KYC) verification, linking a crypto wallet, and depositing funds into their accounts.
Wirex Pay’s launch follows moves by major payment card services to make crypto payments the next big thing in digital transactions.
RELATED: Visa Partners with WireX to Boost Crypto Use in UK and Europe
Mastercard recently introduced the “Crypto Credential” feature, which simplifies crypto transactions by allowing users to utilize simple aliases instead of complex blockchain addresses. The card payment company stated this feature would increase confidence in crypto transactions.
Also, Mastercard expanded its support for non-custodial cryptocurrency wallets through a partnership with Mercuryo, a European crypto payments infrastructure provider. This collaboration results in a new card service, “Spend crypto card”, which is expected to enable users to spend cryptocurrency held in self-custody without encountering peer-to-peer risks or relying on banks for fund withdrawals. Mercuryo claims the card offers several advantages over traditional off-ramping methods, such as immediate transactions, lower likelihood of transaction blocks, and reduced fees.
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