Wirex Credit Launches in the UK, Expands Crypto Collateral Options

LONDON, August 4, 2022 /PRNewswire/ — Wirexa leading crypto and payment ecosystem, has expanded the Wirex Credit program to new regions and developed additional features. Their crypto-back lines of credit are now available for UK users and have added WXT as a token to use as collateral.

After launching last month on the Wirex app, Wirex Credit has become an extremely popular option for users looking to easily and quickly borrow crypto-secured lines of credit for up to $100,000. Wirex Credit is currently available to users of Europe and Asia and with today’s announcement, also for UK customers.

The product was launched to give its 5 million users direct access to the benefits of DeFi, and offers complete flexibility and control. With a very intuitive user interface, borrowing crypto is easier than ever. Customers can borrow stablecoins instantly from 0% interest, no setup or setup fees, the ability to take out up to 5 lines of credit at a time, no credit check or financial capability required .

Starting today, clients can use BTC, ETH, and now WXT as collateral and instantly receive NXUSD, USDC, USDT, and DAI as credit. * Users repay when they want and only pay interest for the days the line of credit is active.

The product use cases are aimed at a broad audience, where users can quickly and easily access liquidity at any time without having to sell their crypto. This new cash can then be spent instantly in real life with the Wirex debit card at over 80 million locations worldwide, online or in-store.

Pavel MatveevCEO and Co-Founder of Wirex, said, “Wirex has a long-standing reputation for providing easy-to-use crypto products for the everyday consumer. Wirex Credit offers an extremely competitive offering, allowing users quick and easy access to crypto-secured lines of credit. We continue to develop the product to offer more choices of tokens to use as collateral to open a line of credit. With our largest customer base in the UK, it’s great to be able to extend Wirex Credit to these users.”

In the coming weeks, Wirex will continue to expand the Wirex Credit offering, including releasing many more popular tokens as collateral options, and cross-borrowing allowing users to combine different assets in their portfolio for one loan.

To learn more about Wirex Credit, visit: https://wirexapp.com/crypto-credit.

*Wirex Credit, provided by Wirex Digital, is subject to terms and conditions, privacy policy and availability by region may differ. All lines of credit are provided in stablecoins. The exact rate and maximum LTV depends on the collateral used and the stablecoins borrowed. See website for more details. Cryptocurrency is volatile and all loans are made at the user’s risk

About Wirex

Wirex is a global digital payments platform and regulated institution that has forged new rules in the digital payments space. In 2015, the company developed the world’s first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible to everyone. With the primary goal of making it as easy as possible to use digital assets in everyday life, Wirex provides a reliable and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of blockchain-integrated payment infrastructure from cryptocurrency.

With over 5 million customers in 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralized mobile application. Fast and easy crypto transfer options are available, along with the freedom to spend over 150 traditional and crypto currencies at over 80 million locations around the world using the Wirex Card.

Wirex continues to develop the product in line with market developments, while adhering to regional regulations and obtaining appropriate licenses where they exist. A recognized industry pioneer, Wirex launched its own native utility token, WXT, and introduced the world’s first crypto rewards program, Cryptoback™, which earns cardholders up to 8% in WXT for every transaction they complete. they perform.

To reflect the growth of the metaverse, throughout 2021 the company has expanded its product to enable consumer access to DeFi. Beginning with the launch of their popular X-Accounts feature, offering unprecedented levels of interest, Wirex has continued to add to its DeFi arsenal with the release of the non-custodial Wirex wallet and a partnership with Nereus, a liquidity marketplace decentralized.

Wirex is based in Londonwith offices at Singapore, Kyiv, dallas, Dublin and Atlanta. With over $5 billion transactions already processed and rapid expansion into new territories, including the United States, Wirex is uniquely positioned to support and promote the mass adoption of a cashless society through creative solutions.

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