As mentioned in the announcement, this means that application developers on the Algorand blockchain are able to enjoy some of Wyre’s top offerings like their Fiat On/Off Ramp “Checkout”, Global Payments, Global Payouts, Wallet Custody, and Swap APIs.
Thanks to this integration with Algorand, developers can provide their end-users with near-instant payment processing solutions within apps. Not only do Wyre’s APIs support the native ALGO coin, but thanks to Wyre’s Swap API, developers are able to give end-users “the ability to swap other cryptocurrencies into Algorand’s native currency, Algorand USDC & Algorand USDT.”
Highlighting their goal or mission to make crypto more accessible, users may “interact with developer applications using their local fiat currency.” Developers are also able to integrate fiat-to-crypto payment methods in hours, “streamlining their development time to bring apps to life.”
With this integration, users may “go from fiat to ALGO using the world’s most popular payment methods as well as cashing out ALGO into fiat to a connected bank account.”
As noted in the update, Algorand assets will also be “available via Wyre’s Checkout product — providing end-users with the ability to purchase Algorand assets quickly and easily with their debit card.” Wyre’s Checkout API is “utilized by many well-known platforms, providing Algorand with exposure to Wyre’s vast distribution network.”
During the coming days, Wyre will be “participating in Algorand’s developer office hours as well as publishing a host of educational content which will enable Algorand developers to integrate with Wyre’s API’s seamlessly, to kickstart their development.”
The Wyre team had been “featured on Algorand’s Developer Office Hours on Tuesday, 23rd November.”
You may choose to signup to learn about Wyre’s compliant APIs and “how to integrate the Algorand protocol into your application for all of your payment processing needs.”
Wyre’s Director of Business Development, Erich Grant, stated:
“Thanks to this partnership, developers building on the Algorand blockchain can go to market sooner and provide their end-users with enhanced functionalities. We are looking forward to working closely with Algorand in the coming weeks and months to provide developers with further resources so they can build and broaden the Algorand ecosystem even more.”
For additional information about Wyre and how to integrate with their APIs, you can visit their official Website and review their Developer Documentation.