Financial news

Customers who have struggled with decentralised payment issues such as custody risks, and slow, expensive settlements have been provided with a solution by Wirex, the Web3 money app. The solution, ‘WPay’, ensures users have a smoother and more secure payment experience.

Targeting decentralised applications, non-custodial wallets, and DAOs, WPay provides a transformative solution in the digital finance landscape. With the self-custodial debit card, users can spend their digital assets in the traditional economy through the WPay network.

Accepted by over 50 million merchants in more than 200 countries, the card enables users to have direct control over their assets, ensuring no counterparty risk.

Pavel Matveev, CEO and co-founder of Wirex, comments: “WPay revolutionises digital asset use in daily life, seamlessly merging them with traditional transactions. Bridging the gap between digital assets and everyday transactions has been challenging. WPay represents a significant advancement, allowing individuals to use digital assets for everyday purchases and services. This ushers in a new era of practical cryptocurrency use beyond mere investment.”

There are a variety of key value propositions of WPay. The first is self-custody. Customers gain direct control over assets with the WPay Card, mitigating counterparty risk. They are also provided with greater digital asset flexibility. This in turn means they can easily manage digital assets, lending, and borrowing. Another benefit is its security. With high-security standards in place, consumers can utilise crypto quickly and as simply as cash, accepted by over 50 million merchants in more than 200 countries.