Wirex, a digital payment platform that allows users to use 62 fiat and cryptocurrencies in over 61 million locations worldwide through the Wirex platform, announced the integration of Avalanche (AVAX) into its ecosystem on Monday. At this stage, users can receive, send, store, exchange and add AVAX tokens through the Avalanche blockchain. The company plans to introduce more AVAX-based tokens over the next few months.
In addition, Wirex users will be able to earn 20% per year on AVAX through the X-Accounts product for the company’s decentralized finances. The company has over 4.5 million users in over 120 countries through its apps, wallets and payment platforms.
In terms of development, said John Woo, president of Ava Labs, the creator of the AVAX blockchain, “Wirex is moving fast to make digital assets and the innovations that happen on public blockchains available to the masses.”
Meanwhile, Wirex CEO and co-founder Pavel Matveev stated that the addition of AVAX “helps to develop use cases for the Wirex ecosystem,” especially when it comes to improving blockchain accessibility.
Related topics: The Future of Finance: US Banks Collaborate with Cryptocurrency Custodians
Wirex claims to have developed the world’s first cryptocurrency-enabled payment card in 2015. In January, the company expanded to the United States and introduced the blockchain Polygon, BNB Beacon Chain and Fantom at about the same time. Wirex also has its own WXT token and a crypto rewards program that returns cardholders up to 2% in WXT for each transaction they make. The company has processed over $ 5 billion in transactions since 2014.
