Wirex, an England-based payments platform that aims at making cryptocurrency more accessible and available to everyone, also opens accounts in real-time. Along with these financial benefits, it gives its users immediate access to a wide range of crypto and traditional currencies. Competitive OTC exchange rates, next-gen rewards, and DeFi-powered earnings are surplus to these financial benefits.
Wirex brings Wirex Credit into the service, where users can access highly competitive interest rates and no origination fee for crypto-related loans. They can take a loan of up to $100,000 in stablecoins with a loan to value (LTV), of up to 80% in the Wirex app.
Pavel Matveev, CEO, and Co-Founder, Wirex, stated, “This is a landmark point in Wirex offering more ways for everyday users to utilize crypto, and we’ve made it as convenient and straightforward as possible for our customers to take a crypto-backed loan. Wirex’s vast ecosystem of products means there are huge opportunities for using Wirex Credit, from HODLing to debit card purchases, or using the Wirex Wallet to earn in DeFi protocols.
Wirex Credit will offer loans irrespective of market conditions, which are buying a getaway through Wirex card or getting funds from investing DeFi protocols. Wirex is the first organization in the world to create a crypto-enabled card, and it integrated it into the Wirex app. This integration indicates that the credit can be used at more than 80 million locations worldwide, online or in-store, wherever Mastercard or Visa card is accepted. Wirex users can place their loans from the Wirex app to the Wirex Wallet, and with this, they can earn crypto from staking and locking after adding it to DeFi protocols like Nereus Finance.