Payments Firm Wirex Adds Polygon to Wallet

Wirex, a payments platform that enables both fiat and crypto, has added the Polygon blockchain to their non-custodial wallet, as well as the Wirex app.

According to  Wirex, users will have access to the benefits of the Polygon blockchain alongside the Ethereum, Avalanche, Binance Smart Chain and Fantom blockchains, and the Bitcoin and Ethereum blockchains on the app.

Wirex launched its non-custodial wallet at the end of 2021, alongside the Wirex app and crypto-enabled card with over 4.5 million customers.

Expanding the Wirex Wallet and app’s network to include the Polygon blockchain is said to be the next step in achieving the company’s goal to increase the accessibility of crypto and DeFi.

Polygon addresses issues with blockchains undermined by network congestion, high fees, and slow transaction speeds.

Wirex said the stablecoin BRZ (Brazilian Digital Token) will be the first token to launch in-app on the Polygon blockchain, with plans to migrate Polygon’s native token, MATIC, to that blockchain within Wirex at a later date.

Pavel Matveev, co-founder and CEO of Wirex, commented:

“At Wirex we want to give crypto users access to the best innovations within the sector, and implementing the Polygon blockchain gives customers more flexibility to choose lower cost options within DeFi and crypto. Wirexers will now be able to fully benefit from Ethereum’s network effects, whilst taking advantage of the next-generation security, user interface and features within the Wirex ecosystem.”

Arjun Kalsy, VP of Growth at Polygon, said that by including Polygon, Wirex has ensured that users can benefit from ultra-low gas fees and swift transaction speeds.

Wirex said that later in 2022 it will integrate other blockchains into the Wirex app, giving people globally increased choice on how they want to utilise decentralised finance and the digital economy.

Wirex is based in London, with offices in Singapore, Kyiv, Dallas, Dublin, and Atlanta and reports more than $5 billion worth of transactions processed



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