Wirex Pay has introduced a new payment platform with enhanced security, featuring non-custodial wallets and private key protection, offering users more control over their cryptocurrency assets.
On October 9, Web3 financial app Wirex launched an early-access version of Wirex Pay, a modular blockchain platform built specifically for making crypto payments. This move aligns with the growing trend of users shifting away from centralized platforms in favor of self–custody solutions.
Wirex Pay allows users to make everyday purchases using their non-custodial wallets, ensuring they have full ownership of their funds. According to Wirex co-founder Pavel Matveev, the app’s development was motivated by declining trust in centralized exchanges after the collapse of major platforms like FTX and Celsius.
Prioritizing User Control and Security
Matveev emphasized that Wirex Pay focuses on restoring trust by giving users complete control over their money through private keys and multisignature security features. He explained that Wirex Pay lets users set a spending limit, giving them temporary access to their funds when making purchases.
“We’ve simplified the process between crypto and daily payments, allowing users to spend their assets freely and securely,” said Matveev.
The platform requires users to follow a step-by-step process, including ordering a non-custodial plastic or virtual card, verifying their identity through Know Your Customer (KYC) procedures, connecting a crypto wallet, and depositing funds into their Wirex Pay account.
Supported Cryptocurrencies and Global Reach
Wirex Pay supports stablecoins like Tether (USDT), USD Coin (USDC), and Dai (DAI), which can be used for top-ups and payments. The service is now available in 54 countries, though it currently excludes the United States.
By focusing on non-custodial wallets, Wirex Pay is positioning itself as a secure and user-friendly option for crypto holders looking to integrate digital assets into everyday spending.
Summary Review: Wirex Pay‘s launch of its non-custodial payment platform marks a significant step towards enhancing user control and security in cryptocurrency transactions. By allowing users to manage their funds with private keys and providing a straightforward process for everyday spending, Wirex Pay responds to the growing demand for self-custody solutions in the wake of declining trust in centralized platforms. With support for popular stablecoins and availability in multiple countries, Wirex Pay aims to bridge the gap between crypto assets and daily financial activities, empowering users to spend their digital currencies freely and safely.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
