Wirex Wallet and Paraswap Partner for Unrivalled DeFi Access

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Mar 08, 2022, 06:00 ET

LONDON, March 8, 2022 /PRNewswire/ -- Leading crypto platform, Wirex, has partnered with DEX aggregator, Paraswap, to make DeFi more accessible than ever before. Using Paraswap's market-leading price algorithm, Wirex Wallet users will now be able to seamlessly exchange multiple tokens, saving users large amounts of money and effort.

Since inception in 2014, Wirex has endeavoured to break down barriers to access for crypto, blockchain and DeFi. With a growing number of tokens and blockchains emerging with an infinite number of benefits and use cases, interoperability is vital in realising a mainstream digital economy, and Paraswap's application is helping to make this a reality.

As one of the most prominent DEX aggregators, Paraswap has launched on the Wirex Wallet to enable users to easily swap their tokens at a low cost. Using a market-leading price algorithm locating the best possible trading rate on various DEX, it will offer zero-commission swaps between tokens, making the Wirex Wallet one of the most competitive products in the space.

Wirex's non-custodial wallet launched in December, cementing their vision to create one of the world's most user-friendly wallets, and follows their overwhelming success with the Wirex app that boasts over 4.5 million customers. Utilising keyless technology using biometric access, multi-party computation technology for enhanced security, as well as an industry-leading user interface, millions of users are now able to access the benefits of DeFi.

The partnership with Paraswap has become even more pertinent as Wirex has sought to expand the blockchains on the Wirex Wallet, having recently announced the addition of the popular Avalanche, Polygon, Binance Smart Chain and Fantom blockchains. Cross-chain compatibility thanks to a recent integration with Celer Network's cBridge application complements the Paraswap partnership, by also allowing tokens to be exchanged between blockchains.

Pavel Matveev, CEO and Co-Founder of Wirex, noted that: "For many years, it's been difficult for everyday users to take advantage of DeFi and crypto. We've begun growing the number of blockchains on the wallet to enable users to access more blockchains and tokens with less congestion, lower transaction fees and faster speeds, and a partnership with Paraswap will allow them to easily move between these at low costs."

"We are delighted to partner with Wirex and help enable their large community of users to benefit from the rich opportunities offered by DeFi," said Mounir Benchemled, Founder of ParaSwap. "Through this integration, we hope it provides an edge to the product and expands the fundamentals of DeFi to a new market segment."

Wirex has also recently partnered with uTorg, providing a user-friendly, direct on-ramp for purchasing tokens directly on the blockchain within the Wallet, and in the coming weeks, plans to add the Solana blockchain.

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 |

About Paraswap

Our core mission is to take the DeFi space to a new height by democratizing access to its deep and fast-growing liquidity.

ParaSwap offers a simple, fast, and safe way to exchange tokens by pooling together the liquidity from many decentralized exchanges in one unique interface. It is a middleware layer connecting wallets and traders to digital assets.

SOURCE Wirex