• The Avalanche blockchain is currently available to 4.5 million customers across the Wirex payment ecosystem

  • On Monday, Wirex, a digital payment network that allows users to spend 62 fiat and cryptocurrency currencies at over 61 million places globally via the Wirex platform, announced the incorporation of Avalanche (AVAX) into its ecosystem. Users can now receive, transmit, store, and exchange AVAX tokens, as well as add custom tokens, over the Avalanche blockchain. Over the following several months, the business intends to onboard a number of AVAX-based tokens.

    Furthermore, Wirex customers will be able to earn 20% yearly interest on AVAX via the company’s decentralized financial savings product, X-Accounts. Across its app, wallet, and payment platforms, the company has over 4.5 million users in over 120 countries.

    In response to the news, John Wu, president of Ava Labs, the creators of the AVAX blockchain, stated, “Wirex is working quickly to make digital assets and the innovation happening on public blockchains more accessible to the masses.”

    Meanwhile, Wirex CEO and co-founder Pavel Matveev stated that the acquisition of AVAX is “assisting in the development of use cases for the Wirex ecosystem,” particularly in terms of expanding blockchain accessibility.

    In 2015, Wirex claims to have created the world’s first crypto-enabled payment card. The company expanded to the United States in January and at the same time onboarded the Polygon, BNB Chain, and Fantom blockchains. Wirex also offers its own native utility token, WXT, as well as a crypto reward scheme that rewards cards with up to 2% back in WXT for every transaction. Since 2014, the company has processed over $5 billion in transactions.

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