Wirex has launched its ‘mass market non-depository’ crypto wallet as part of a move that strengthens the position of the cryptocurrency-enabled digital payment company in digital assets and DeFi.

The Wirex wallet is available for download from app stores and allows users to manage over 100 different cryptocurrencies from their mobile device.

Find us on Telegram

Pavel Matveev, co-founder and CEO, said the Wirex wallet will give a new generation of users access to DeFi by including unique features that make it easier and more secure than ever to use.

The company believes that the massive adoption of DeFi is only a matter of time, and that its “cross-chain, keyless and highly secure wallet” will help bring decentralized finance into the mainstream.

This application does not require a private key because its multi-party compute technology ensures resilient security and compliance, eliminating complex seed sentences and private keys. Instead, it will rely on biometrics for access.

“Wirex is always looking for ways to make digital currencies more accessible and we believe this wallet is a world first in making it a reality for the mainstream. We want to give crypto users access, flexibility and control over their holdings without worrying about the safety of their funds, losing their private key, high gasoline costs, or the need to split their tokens. across different applications and platforms, ”commented Wirex Managing Director Pavel Matveev. .

The high fees on the Ethereum blockchain and the fragmented liquidity between the different blockchains are a drag for potential DeFi users, who are excluded from the opportunity.

The wallet offers cross-chain compatibility between Bitcoin and Ethereum blockchains, with expansion to faster and cheaper Layer 2 networks underway.

The interoperability offered by the Warex wallet allows users to exchange DeFi tokens between blockchains with unparalleled ease, providing access to a greater number of tokens, technologies and use cases within the same portfolio, says the company.

“We made a series of major announcements in 2021 that create a complete ecosystem for every type of cryptocurrency user,” Matveev continued.

“Our application and our encrypted Wirex card are available in three regions of the world, our CeFi offering – X-Accounts – has recently been extended to 81 additional countries, and the Wirex wallet will be available worldwide, bringing a Wirex product within reach. tomorrow. from everyone on the planet. This level of accessibility is what really excites us about this launch.

• Ability to manage more than 100 cryptocurrencies
• Easy access to DeFi and NFT
• No need for a private key, start phrases or prior Wirex membership
• Simple purchases of WXT and other cryptos by debit and credit card
• Inter-chain exchanges between Bitcoin and Ethereum blockchains, with extension to Solana and other blockchains on the roadmap
• Resilient security measures, including sophisticated SMPC encryption and anonymous, privacy-focused biometric backups
• Low blockchain fees
• Available for download on Google Play and App Store

In December 2021, the company announced a new white paper, expanding Wirex’s WXT use cases, as well as an investment of WXT 5 billion in the new DeFi protocol, Nereus.

Earlier this year, the company launched a DeFi savings product, X-Accounts, which allows users to earn up to 16% APR interest on fiat and crypto funds. The Wirex wallet will allow users to access even higher APR interest rates – up to 25%.

For the wallet, Wirex will soon introduce the ability to send and receive NFTs, as well as extend compatibility with the Solana blockchain.