WIREX INTRODUCES POLYGON BLOCKCHAIN TO APP & NON-CUSTODIAL WIREX WALLET

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23 Feb, 2022, 15:00 GMT

LONDON, Feb. 23, 2022 /PRNewswire/ -- Leading crypto payments company Wirex, today announced the addition of the Polygon blockchain to their recently launched non-custodial wallet, as well as the industry leading Wirex app. Users will have access to the benefits of the Polygon blockchain, which joins the Wallet alongside the Ethereum, Avalanche, Binance Smart Chain and Fantom blockchains, and the Bitcoin and Ethereum blockchains on the app.

Available worldwide, Wirex launched their mass-market non-custodial wallet at the end of 2021, complementing the Wirex app and crypto-enabled card with over 4.5 million customers. Expanding the Wirex Wallet and app's network to include the Polygon blockchain is the next step in achieving the company's goal to increase accessibility to the benefits of crypto and DeFi.

Polygon combines the best of Ethereum and sovereign blockchains to address issues with other blockchains hindered by network congestion, high gas fees and slow transaction speeds, without forfeiting security. Giving mainstream users easier than ever access to DeFi, the Wirex Wallet boasts a unique set of features including biometric security and complex seed phrases in place of a private key. Combined with the innovation and reliability of the Wirex Wallet, the addition of Polygon's multi-chain system will give Wirex Wallet users access to one of the most versatile blockchains on the market.

This week, the Polygon blockchain will also join the Wirex app, a digital payments platform linked up to a crypto-enabled debit card, heralded the first of its kind. The stablecoin BRZ (Brazilian Digital Token) will be the first token to launch in-app on the Polygon blockchain, with plans to migrate Polygon's native token, MATIC, to that blockchain within Wirex after. Diversifying the blockchains available on the app will allow hundreds more assets to be supported with the ability to receive, send, store and exchange them on their mobile device, securely and efficiently, and be spent at over 61 million locations around the globe.

Co-Founder and CEO of Wirex, Pavel Matveev stated: "At Wirex we want to give crypto users access to the best innovations within the sector, and implementing the Polygon blockchain gives customers more flexibility to choose lower cost options within DeFi and crypto. Wirexers will now be able to fully benefit from Ethereum's network effects, whilst taking advantage of the next-generation security, user interface and features within the Wirex ecosystem."

Arjun Kalsy, VP of Growth at Polygon, said, "By adding Polygon, Wirex has ensured that users can enjoy ultra-low gas fees and swift transaction speeds, while still leveraging Ethereum's robust security model."

Later this year, Wirex has plans to integrate further blockchains into the award-winning Wirex app, giving people globally increased choice on how they want to utilise decentralised finance and the digital economy.

About Wirex

Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world's first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains

With over 4.5 million customers across 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralised mobile app. Quick and simple crypto transfer options are available, as well as the freedom to spend 150+ traditional and cryptocurrencies in more than 61 million locations around the world using the Wirex card.

Wirex continues to develop the product in line with market developments, whilst adhering to regional regulations and securing appropriate licensing where it exists. A proven industry pioneer, Wirex launched their own native utility token, WXT, and introduced the world's first crypto reward programme, Cryptoback™, which earns cardholders up to 2% back in WXT for every transaction they make.

To reflect the growth of the metaverse, throughout 2021, the company has expanded their product to enable mainstream access to DeFi. Starting with the launch of their popular X-Accounts feature, offering unprecedented levels of interest, Wirex has continued to add to their DeFi arsenal with the release of the non-custodial Wirex Wallet and a partnership with Nereus, a decentralised liquidity market.

Wirex is based in London, with offices in Singapore, Kyiv, Dallas, Dublin and Atlanta. With over $5bn worth of transactions processed already and rapid expansion into new territories, including the US, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions.

| wirexapp.com |

About Polygon

Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon's scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.

If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon's fast and secure txns for your dApp, get started here.