Wirex announced a partnership with Gateway.fm to scale its ZK-powered WPay network

USA - English

News provided by

Feb 05, 2024, 04:00 ET

LONDON, Feb. 5, 2024 /PRNewswire/ -- Wirex, a leading Web3 money app, has announced a strategic collaboration with Gateway.fm, a global multi-chain architecture decentralised blockchain infrastructure node provider.

This partnership is set to revolutionise the scalability and efficiency of Wirex's recently launched WPay Decentralised Payment Network. By teaming up with Gateway.fm and utilising their PaaS, Presto, Wirex wants to scale its Zero-Knowledge (ZK) powered WPay platform.

Wirex announced a partnership with Gateway.fm to scale its ZK-powered WPay network

With Presto, Wirex aims to enhance the network's transaction throughput, reduce strain on the Ethereum mainnet, and provide users with a smoother experience as they navigate between traditional finance and Web3. It's a practical step towards making decentralised payments more seamless and efficient for everyone involved.

Key highlights of the partnership:

WPay's Value Propositions: This partnership reinforces WPay's key value propositions, including self-custody, digital asset flexibility, uncompromised security, and instant spending. WPay empowers users by providing full control over their assets, easy management of digital assets, the highest security standards, and the ability to use cryptocurrency for everyday transactions.
Private zkEVM Rollup: Gateway.fm will provide Wirex with a private zkEVM (Zero-Knowledge Ethereum Virtual Machine) rollup solution. This technology enhances scalability, cost efficiency, and off-chain transaction processing, ensuring uninterrupted services.
L2 Integration: The integration of L2 (Layer 2) technology facilitated by Gateway.fm's Presto, powered by Polygon CDK, marks a significant step forward in improving Wirex's card services.

Wirex's CEO & Co-founder Pavel Matveev expressed his excitement about the partnership, stating, "We are thrilled to partner with Gateway.fm to enhance the scalability and efficiency of our WPay platform. It underscores our dedication to delivering cutting-edge, user-centric solutions. With Presto's capabilities, we are confident that WPay will continue to redefine the way people use digital assets in their everyday lives."

The implementation of Gateway.fm's Presto is expected to bring about substantial improvements in the performance and user experience of WPay. It will enable faster transaction processing, reduced costs, and increased network capacity, all while maintaining the highest standards of security.

Igor Mandrigin, Co-Founder and CTO of Gateway.fm, said: "This partnership gives expression to the power of private zkEVM roll-ups in terms of driving security, scalability and cost efficiencies for important real-world use cases. By leveraging our Platform-as-a-Service Presto, Wirex's growing user base can now access streamlined blockchain-enhanced financial services, and we look forward to broadening the scope of this partnership in the months ahead."

Cuautemoc Weber, Co-Founder and CEO of Gateway.fm said: "We're thrilled to partner with Wirex and expand the benefits of our Presto solution to over six million users across the world. The synergies between Gateway.fm and Wirex are clear – much like how we're abstracting the complexity of blockchain infrastructure, Wirex is simplifying the process of buying, selling and spending digital assets. The compound effect of these missions will be huge for facilitating mainstream Web3 adoption."

Wirex and Gateway.fm are excited to embark on this journey together, and they anticipate that this partnership will further strengthen Wirex's position as a leader in the cryptocurrency space.

For more information about WPay and to sign up for early access, please visit WPay Website: https://www.wpaychain.com/.

Notes to editors:

About Wirex

Wirex is a prominent UK-based digital payments platform with over 6 million customers spread across 130 countries. It offers secure accounts, making it easy for users to store, purchase, and exchange multiple currencies seamlessly.

As a principal member of both Visa and Mastercard, Wirex goes beyond traditional services, embracing the evolving trends of Web3 to provide mainstream access to digital finance and wealth management.

Having processed transactions totalling $20 billion, Wirex aims to contribute to the adoption of a cashless society by facilitating straightforward transactions in various currencies worldwide. Wirex is simplifying digital payments, making it more accessible and convenient for people across the globe.

About Gateway.fm

Gateway.fm is a global distributed multi-chain decentralised blockchain infrastructure node provider. They build the next generation of Web3 infrastructure and tooling products. Their expertise in blockchain, fintech and telecom helps them to create innovative solutions and lead the Web3 space.

For more information, please contact:
Diana Velychko,
+380666186191,
diana.velychko@wirexapp.com
[email protected]

Photo - https://mma.prnewswire.com/media/2333286/Wirex.jpg