Avalanche Blockchain Now Accessible to 4.5M Users Across Wirex App, Wallet & Payment Ecosystem

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Feb 28, 2022, 09:00 ET

LONDON, Feb. 28, 2022 /PRNewswire/ -- Wirex, a leader in the crypto sphere, has expanded its ecosystem to enable 4.5 million users to access the popular Avalanche blockchain and tokens in the recently launched Wirex Wallet and award-winning app.

Wirex is available in over 120 countries, including the USA. It has been on a mission to enable everyone to access the benefits of crypto and DeFi, and expanding support for Avalanche will accelerate progress toward this reality and further Wirex's reputation for unparalleled user experience and technology.

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. It is blazingly fast, low cost, and eco-friendly. It is compatible with Ethereum smart contracts and tooling, enabling Ethereum users and developers to quickly access high-performance decentralized apps.

By adding support for Avalanche natively in the application, Wirex is enabling mainstream users to access DeFi easier than ever before. Users can receive, send, store and exchange them on their mobile devices, securely and efficiently. Users will also be able to take advantage of cheaper gas fees, as well as the ability to add custom tokens on those blockchains.

Wirex app users will be able to purchase AVAX with their debit/credit card with competitive in-market rates, seamlessly exchange it, and easily send and receive AVAX to and from any other wallet.

Linked up to a crypto-enabled debit card, users can spend AVAX plus up to 61 crypto and traditional currencies on the Wirex platform, at over 61 million locations globally. Having recently launched their popular DeFi savings product, X-Accounts, users will also be able to earn up to 20% AER interest* on AVAX, with no lock-up period, minimum holdings or monthly fees.

Pavel Matveev, CEO and Co-Founder of Wirex, commented that: "Wirex continues to innovate and build partnerships that strengthen our offerings, and the addition of Avalanche is helping to develop use-cases for the Wirex ecosystem. Avalanche's reputation for improving blockchain's accessibility closely aligns with Wirex's, where we can together help to offer users of all backgrounds more choice and flexibility over how they wish to use crypto."

Both Ava Labs, a team supporting development of the Avalanche blockchain, and Wirex, have worked with payment technology company, Mastercard, to help make this a reality. Wirex became a crypto card program partner in 2020, and Avalanche became a member of the Mastercard Start Path Crypto engagement program in December 2021.

"Wirex is moving fast to make digital assets and the innovation happening on public blockchains more accessible to the masses," said John Wu, President of Ava Labs. "We're excited to support Wirex's expansion to Avalanche, and look forward to further collaboration with Wirex and Mastercard."

Wirex's arrival in the US in January enables tens of millions of crypto users in America to access these new features, as well as the Polygon, Binance Smart Chain and Fantom blockchains that launched globally on the Wirex Wallet at the same time. With the launch of the Avalanche blockchain, Wirex plans to add multiple Avalanche-based tokens to their platform next month, building on the 33 other tokens that Wirex have added since May.

* Earnings apply to fiat converted to stablecoins. Subject to T&Cs.

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 | App store | Google Play Store |

About Avalanche

Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don't believe it? Try Avalanche today.