Wirex has expanded its Wirex Credit to new locations and created more features. The UK-based consumers of Wirex can access its crypto-supported credit services and it added WXT as a token that can be used in the form of security, or deposit.
Wirex Credit which was introduced last month on the Wirex app turned out a widely used program for users who wanted to borrow crypto-backed credit lines of up to $100,000 in a quick and convenient way. Already available for Europe and Asia-based users, and now with the announcement of expansion of Wirex Credit to the UK, users located in this region can also use it.
Pavel Matveev, CEO, and Co-Founder, Wirex, stated, “Wirex has a long-standing reputation of delivering easy-to-use crypto products for the everyday consumer. Wirex Credit brings a hugely competitive offering, allowing users quick and easy access to access to crypto-backed credit lines. We’re continuing to develop the product to offer more choices of tokens to be used as collateral to open a credit line. With our largest customer base in the UK, it’s great to be able to expand Wirex Credit to these users.”
Wirex Credit was brought to directly provide the benefits of DeFi to its 5 million users with full control and flexibility. Borrowing Crypto has become easier than ever as consumers have become intuitive. Stablecoins beginning at 0% interest with no set up fee can be immediately borrowed. Consumers can take a maximum of 5 credit lines at one time, and for this, they don’t have to provide credit checks.
Customers can get USDC, USDT, and DAI as credit in the moment, and also utilize WXT, and BTC, ETH as collateral. Users repay at their comfort and interest is payable only till the credit line is active. Use cases of products attract a wide consumer base and enable customers to access liquidity on the go without selling their crypto. Wirex debit card enables consumers to use new liquidity in real-life at more than 80 locations globally, in-store and online.