Wirex unites digital assets with daily spending via WPay

Person using mobile to access online banking.
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Web3 money app Wirex has announced exclusive early access to its decentralised payment network WPay.

The Web3 money app, which recently partnered with Liquity to integrate its LUSD and LQTY tokens, has introduced its decentralised payment network to solve problems related to intermediaries, custody risks, and slow, expensive settlements, utilising  the capabilities of its Wirex platform.

App users will be able to spend their digital assets in the traditional economy through the network, which is accepted by over 50 million merchants in more than 200 countries.

Pavel Matveev, CEO and Co-Founder of Wirex, commented: “WPay revolutionises digital asset use in daily life, seamlessly merging them with traditional transactions. Bridging the gap between digital assets and everyday transactions has been challenging.” 

Recently, the company integrated security solutions from ZeroFox to securely scan for potential dark web risks such as leaked data, compromised credentials and protect other sensitive information.

Wirex has said that the four key value propositions of Wpay are: self custody, users will gain direct control over assets with the WPay Card, mitigating counterparty risk; digital asset flexibility, though easy management of digital assets, lending, and borrowing; uncompromised security, backed by high security standards for users;  and lastly,instant spending, users will be able to utilise crypto as simply as cash.

This new venture comes after last year’s progress, when the company partnered with Visa to expand the reach of crypto payments, which allowed Wirex to directly issue crypto-enabled debit and prepaid cards to more than 40 countries.

Matveev added: “WPay represents a significant advancement, allowing individuals to use digital assets for everyday purchases and services. This ushers in a new era of practical cryptocurrency use beyond mere investment.”