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Cryptocurrency

Wirex Adds Six Stablecoins on Its Payment Platform

13 Mins read


Wirex, a crypto-friendly digital
 
 payments 
company, has expanded its offerings with six new stablecoins. The company regards the addition as an important way of giving crypto newcomers ‘great options’ for spending digital currencies. Through the enhanced offerings, the firm has reaffirmed its commitment to expand digital currency further into the mainstream. The six new tokens include STASIS EURO (EURS), True (TUSD), USD Coin (USDC), Tether (USDT), Pax dollar (USDP), and the Singapore Dollar Stablecoin (XSGD). The six new stablecoins will sit alongside DAI, the first stablecoin that Wirex integrated into its platform in 2019.

The latest
 
 stablecoin 
that the company added on its platform was XSGD, a Singapore dollar backed stablecoin. The stablecoin, which is available on the StraitsX payment platform, was developed by Xfers Pte Ltd to help release the vision of a decentralized and regulated financial system in Singapore. In Singapore, popular tokens such as Chainlink (LINK) and Uniswap (UNI), as well as XSGD, will also be available for consumers, where local users can conduct a bank transfer of Singapore dollar (SGD) to Wirex using StraitsX platform to convert to XSGD.

Pavel Matveev, the CEO and Co-Founder of Wirex, talked about the development and said: “Wirex was founded with a mission to make crypto open to all, so it’s vital to offer a wide variety of tokens to suit all users, regardless of their lifestyle and experience with crypto. Stablecoins such as XSGD are a great option for those new to crypto as they are pegged to a stable asset, keeping the value more consistent over time while still offering users the benefits of crypto.”

Meanwhile, Aymeric Salley, Head of StraitsX, also commented about the development and stated: “At StraitsX, we believe ASEAN currencies denominated stablecoins will see increasing adoption and we’re delighted to see Wirex pioneering this effort with XSGD now being supported by the Wirex platform. We look forward to users being able to spend XSGD via the Wirex card.”

How Wirex Is Making Crypto and Traditional Currencies Accessible to All

Wirex is on a mission to make cryptocurrency more available and accessible to everyone. With more than 4.5 million customers already using the platform, Wirex gives users instant access to a broad variety of cryptocurrencies and traditional currencies through digital and mobile apps, with best OTC exchange rates, DeFi-powered earnings, and next-gen rewards. The six new stablecoins add to already available cryptocurrencies such as Bitcoin, Ether, Litecoin, XRP, Cardano, and Dogecoin on the Wirex platform. Traditional currencies such as Euro (EUR), pound sterling (GBP), Canadian Dollar (CAD), Czech Koruna (CZK), Hungarian Forint (HUF), Polish Zloty (PLN), Romanian Leu (RON), Croatian Kuna (HRK), US dollar (USD) are also available on the platform.

In July last year, Wirex launched its multicurrency Mastercard debit card in the United Kingdom and the European Economic Area as well as its rewards programme, X-tras, across the world to help make crypto more accessible to everyone. Last month, the firm launched a crypto wallet (the Wirex Wallet), which is available for downloads from app stores, thus allowing users to manage over 100 different cryptocurrencies from their mobile devices efficiently and securely. The crypto wallet gives a new generation of users access to the benefits that comes with the DeFi ecosystem, including DeFi tokens, lending, staking, yield farming, among others.

Wirex, a crypto-friendly digital
 
 payments 
company, has expanded its offerings with six new stablecoins. The company regards the addition as an important way of giving crypto newcomers ‘great options’ for spending digital currencies. Through the enhanced offerings, the firm has reaffirmed its commitment to expand digital currency further into the mainstream. The six new tokens include STASIS EURO (EURS), True (TUSD), USD Coin (USDC), Tether (USDT), Pax dollar (USDP), and the Singapore Dollar Stablecoin (XSGD). The six new stablecoins will sit alongside DAI, the first stablecoin that Wirex integrated into its platform in 2019.

The latest
 
 stablecoin 
that the company added on its platform was XSGD, a Singapore dollar backed stablecoin. The stablecoin, which is available on the StraitsX payment platform, was developed by Xfers Pte Ltd to help release the vision of a decentralized and regulated financial system in Singapore. In Singapore, popular tokens such as Chainlink (LINK) and Uniswap (UNI), as well as XSGD, will also be available for consumers, where local users can conduct a bank transfer of Singapore dollar (SGD) to Wirex using StraitsX platform to convert to XSGD.

Pavel Matveev, the CEO and Co-Founder of Wirex, talked about the development and said: “Wirex was founded with a mission to make crypto open to all, so it’s vital to offer a wide variety of tokens to suit all users, regardless of their lifestyle and experience with crypto. Stablecoins such as XSGD are a great option for those new to crypto as they are pegged to a stable asset, keeping the value more consistent over time while still offering users the benefits of crypto.”

Meanwhile, Aymeric Salley, Head of StraitsX, also commented about the development and stated: “At StraitsX, we believe ASEAN currencies denominated stablecoins will see increasing adoption and we’re delighted to see Wirex pioneering this effort with XSGD now being supported by the Wirex platform. We look forward to users being able to spend XSGD via the Wirex card.”

How Wirex Is Making Crypto and Traditional Currencies Accessible to All

Wirex is on a mission to make cryptocurrency more available and accessible to everyone. With more than 4.5 million customers already using the platform, Wirex gives users instant access to a broad variety of cryptocurrencies and traditional currencies through digital and mobile apps, with best OTC exchange rates, DeFi-powered earnings, and next-gen rewards. The six new stablecoins add to already available cryptocurrencies such as Bitcoin, Ether, Litecoin, XRP, Cardano, and Dogecoin on the Wirex platform. Traditional currencies such as Euro (EUR), pound sterling (GBP), Canadian Dollar (CAD), Czech Koruna (CZK), Hungarian Forint (HUF), Polish Zloty (PLN), Romanian Leu (RON), Croatian Kuna (HRK), US dollar (USD) are also available on the platform.

In July last year, Wirex launched its multicurrency Mastercard debit card in the United Kingdom and the European Economic Area as well as its rewards programme, X-tras, across the world to help make crypto more accessible to everyone. Last month, the firm launched a crypto wallet (the Wirex Wallet), which is available for downloads from app stores, thus allowing users to manage over 100 different cryptocurrencies from their mobile devices efficiently and securely. The crypto wallet gives a new generation of users access to the benefits that comes with the DeFi ecosystem, including DeFi tokens, lending, staking, yield farming, among others.



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