Wirex Launches New Dual-Asset Yield-Earning Tool

LONDON, Nov. 1, 2022 /PRNewswire/ -- Wirex, a leading crypto wealth and payment platform, has launched DUO, the dual-asset high yield-generating tool that earns users up to 200% returns. DUO will make earning simpler than ever before with guaranteed yield paid in crypto every time.

As part of their mission to bridge the gap between the traditional and digital economies, Wirex have brought together the best of DeFi yield generation strategies and traditional financial trading platforms to create DUO. With simplicity at the core, it utilises Wirex's innovative user interface to allow users of all abilities to access high yield earning tools.

DUO allows Wirex's 5 million customers to earn the difference in market price from a trading pair over a certain duration, where they'll be paid out in one of the two currencies plus the yield. Providing complete flexibility, customers can choose the pair of tokens, period of time and amount locked, and open multiple DUOs at once. It offers higher returns to customers choosing to lock more for less time, and has no usage fees.

The launch of DUO adds to Wirex's suite of products allowing users to grow their assets, proving more popular during the current crypto winter. Last year, they developed X-Accounts, where users can earn up to 20% AER on their funds, with no minimum amount, and no maintenance or lock-up fees. In July, they also introduced Wirex Credit, offering highly competitive interest rates with no origination fee for crypto-backed loans of up to $100,000.

Pavel Matveev, CEO and Co-Founder, commented: "It's great to add another easy-to-use product that brings the benefits of DeFi-style earning into everyday users' hands. DeFi protocols offer similar ways for users to earn, but are typically extremely lengthy, complex, and expensive for the average person to successfully use. Particularly in this bear market, our customers are looking for straightforward ways to grow their funds and DUO will allow investors of all experience levels to earn high levels of interest."

To find out more about DUO, visit: wirexapp.com/duo

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 90 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. 

| wirexapp.com |

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SOURCE Wirex