- Wirex Pay launches non-custodial crypto payment app, prioritizing user control and security.
- App responds to growing demand for self-custody following centralized platform failures.
- Wirex Pay bridges traditional finance and DeFi, supporting stablecoin transactions in 54 countries.
On the 9 th of October, Wirex Pay released early access to their revolutionary crypto payments application and it was a massive leap into the world of De-Fi. The app for users who completed the Node Sale Whitelist allows them to make payments using a non-custodial payment method, where they stay in full control of their funds. This is a turning point in the crypto payments, Wirex Pay aims to increase the security, and the level of self-custody among the users.
The Growing Demand for Self-Custody
In light of numerous recent failures in centralized cryptocurrency platforms like FTX and Celsius, people are now seeking decentralized methods to manage their pertinent cryptocurrencies. Thus, in response to this trend, Wirex Pay has created a platform to which user control is central.
The Wirex Pay app empowers its users to own private keys altogether as non-custodial wallets prevent the involvement of third parties in managing user’s assets.Wirex co-founder Pavel Matveev also stressed on this boost in security saying that Wirex Pay has erased the line between cryptocurrency and real-world purchases.
People are free to use their cryptocurrencies to make purchases in a secure way to create multisignature methods and private keys. It features an interface designed to counter the increasing use—particularly around custodial services—that requires a user to turn over their assets.
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A Step Toward Decentralized Finance
Wirex Pay is a 10 stage user onboarding that requires KYC verification and non-custodial card creation. It also works with stablecoins namely; USDT, USDC and DAI for users to recharge the accounts or make payments to the global merchants. Present in 54 countries but it is not available in the US. Users can convert Ethereum blockchain assets held for gas fees.
Although this is the case, Wirex Pay’s early access launch can be described as ideal since the world is embracing decentralized financial solutions. Wirex Pay can easily offer a safe environment that assimilates traditional finance with decentralized tools at their best. Wirex Pay allows users to manage their assets au and directly responds to the most critical lines of doubt, which may become the new benchmark for crypto payments.
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