Wirex Wallet Becomes World's First Non-Custodial Wallet Without Seed Phrase Vulnerability to Launch Stellar Blockchain

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Feb 20, 2023, 05:00 ET

LONDON, Feb. 20, 2023 /PRNewswire/ -- Wirex has become the world's first non-custodial wallet without seed phrase vulnerability to launch the Stellar blockchain. The addition will see XLM and USDC on Stellar added to the Wirex Wallet.

Today's integration adds to the eight other blockchains already available on the Wirex Wallet, including BTC, ETH and AVAX. With over 5 million users of the Wirex custodial app, the company launched theWirex Wallet in December 2020. It offers users complete control over their cryptocurrencies and NFTs, utilising multi-party computation (MPC) technology without seed phrase vulnerability to address security concerns with traditional crypto wallets. An unparalleled user interface allows built-in cross-chain swaps and direct access to popular DeFi protocols.

With over 100+ tokens available to buy, exchange and sell in the platform, XLM and USDC were strategically chosen as the next listings on the Wirex Wallet. USDC is a stablecoin pegged 1:1 to the US dollar with one of the largest market shares, whilst XLM is the native coin to Stellar used for transaction fees within Stellar blockchain.

Wirex and Stellar have been partnered for some time, sharing a goal of democratising access to crypto. Together, the two companies developed insightful research reports into crypto user behaviour to understand needs better, whilst in October last year, Wirex announced the launch of USDC on Stellar on their app on-stage at the Stellar Development Foundation's Meridian event in Rome.

Pavel Matveev, CEO and Co-Founder of Wirex, said: "We're delighted to work with Stellar to develop another world's first across our platform, solidifying our reputation as an innovator. Integrating this complex non-EVM blockchain is a huge milestone for us, and is important in enabling more customers to access the benefits of more cryptos in a trusted and secure environment within the Wirex Wallet."

XLM and USDC on Stellar will be available from today in the Wirex Wallet.

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.

Founded in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, Wirex was created to make the digital economy accessible to everyone. With over 5 million customers 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. To reflect the growth of the metaverse, throughout 2021, the company has continued to expand their offering into the CeFi and DeFi sectors.

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SOURCE Wirex