Wirex and Polygon Collaborate for Launch of New Payment Method in India on Mass-Market Wallet

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May 24, 2022, 05:30 ET

LONDON, May 24, 2022 /PRNewswire/ -- Wirex, a leading crypto payments company, is expanding the suite of top-up methods on their non-custodial wallet for Indian customers. The addition of this popular payment option to purchase crypto will make the digital economy more accessible for over 1 billion people in India.

The Wirex Wallet is available globally and was created to make the benefits of DeFi available for everyday users. Considered one of the most accessible wallet products available, it offers an industry-leading user interface and high level of convenience, allowing users to manage over 100 different cryptocurrencies and NFTs from their mobile device. Wirex prioritises security, with resilient multi-computation (MPC) technology as well as a unique, keyless access system using biometrics.

The company has now made it easier than ever for Wirex Wallet users in India to purchase crypto such as MATIC, BTC and DOGE, by adding another reliable, well-known payment method using mobile payment and bank transfer. This comes in addition to debit/credit and Apple/Google Pay options already available. With a direct on-ramp in place, it will save users large amounts of time, effort and gas fees without the need to exchange on other platforms.

Wirex has rapidly expanded the blockchains offered on the Wirex Wallet to give users more choice, including Ethereum, Fantom, Avalanche, Binance Smart Chain, and recently, the Polygon blockchain. Combining the best of Ethereum and sovereign blockchains, Polygon has already proven hugely popular across the globe thanks to its low fees, fast transaction speeds and highly secure nature.

Pavel Matveev, CEO and Co-Founder of Wirex, commented: "Having already gained a global reputation for innovation, we've released the Wirex Wallet to enable mainstream users to benefit from DeFi. Extending the features and functionality for customers in India is the next step in this. As the largest crypto market in the world, it's important that we provide a best in-class experience for users by offering the ultimate convenience, flexibility and security when using the app."

Antoni Martin, Enterprise Lead at Polygon, commented: "Wirex continues to add new features and functionality to its user-focused platform and its expansion of payment methods will add to its work in onboarding new users as seamlessly as possible. Polygon is delighted to be a part of these efforts, and we hope we can do our part for the increased adoption of cryptocurrencies around the world."

The launch of the Wallet develops the global Wirex ecosystem and bridges the gap between the traditional and digital economies. The award-winning Wirex app has already proven hugely popular with Indian customers, offering the ability to buy, hold, exchange and sell 50+ currencies from a single, intuitive app. In-app, users can benefit from their DeFi savings product, X-Accounts, to earn up to 20% APR interest on crypto funds.

Today's announcement follows the release of a series of new alternative payment methods on the Wallet for those living in Malaysia, Indonesia and Portugal, and in the coming weeks, Wirex plans to add the Solana blockchain.

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The Wirex Wallet is a non-custodial wallet connecting users with defi services. The Wirex Wallet is not offered or developed by Wirex. See terms and conditions for more information.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

Notes to editors:

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 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 68 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 8% 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.

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SOURCE Wirex