Wirex Introduces Payment Solution Associated with Non-Custodial Wallets

The creators of Wirex Pay have introduced a new modular blockchain designed for secure cryptocurrency transactions. This new feature enables digital assets held in non-custodial wallets to be utilized for everyday purchases.

Wirex, a FinTech firm based in the U.K. and a provider of online banking solutions, has announced the trial launch of its cutting-edge payment chain solution, Wirex Pay. This new service allows users to pay for goods and services using digital assets from self-managed crypto wallets while retaining complete control over their assets.

Access to this solution was granted on 9 October to a select group of users who will evaluate the new feature by executing real transactions. Pavel Matveev, Co-Founder of Wirex Pay, stated that the launch is a response to the increasing skepticism users have towards centralized platforms. He emphasized that Wirex Pay will provide users with full control over their funds through private access keys and multi-signature options.

To utilize Wirex Pay, users are required to complete multi-factor authentication, which includes KYC, link a cryptocurrency wallet, obtain a physical or virtual card, and deposit funds into an account. The application is accessible in 54 countries, excluding the U.S., and supports USDT, USDC, and DAI stablecoins on the Ethereum blockchain.

In the previous year, Wirex created a decentralized toolkit for issuing non-custodial cryptocurrency debit cards. In September of this year, it launched an L1 blockchain specifically for the Wirex Pay payment system.

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