We are happy to share that XSGD is now available on Wirex, a leading digital payments platform.
Backed 1:1 to the Singapore dollar, XSGD was chosen as Wirex’s first APAC-based stablecoin, as it ties into the company's focus on promoting a safe and trusted crypto sector.
Users will be able to deposit XSGD onto the Wirex platform and spend XSGD via the Wirex card to earn Cryptoback™ rewards.
Pavel Matveev commented “Wirex was founded with a mission to make crypto open to all, so it’s vital to offer a wide variety of tokens to suit all users, regardless of their lifestyle and experience with crypto. Stablecoins such as XSGD is a great option for those new to crypto as they are pegged to a stable asset, keeping the value more consistent over time while still offering users the benefits of crypto.”
Aymeric Salley, Head of StraitsX added “At StraitsX, we believe ASEAN currencies denominated stablecoins will see increasing adoption and we’re delighted to see Wirex pioneering this effort with XSGD now being supported by the Wirex platform. We look forward to users being able to spend XSGD via the Wirex card.”
Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world’s first crypto-enabled payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.
Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains.
With over 4.5 million customers across 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralised mobile app. Quick and simple crypto transfer options are available, as well as the freedom to spend 150+ traditional and cryptocurrencies in more than 61 million locations around the world using the Wirex card.
Wirex continues to develop the product in line with market developments, whilst adhering to regional regulations and securing appropriate licensing where it exists. A proven industry pioneer, Wirex launched their own native utility token, WXT, and introduced the world’s first crypto reward programme, Cryptoback™, which earns cardholders up to 2% back in WXT for every transaction they make.
To reflect the growth of the metaverse, throughout 2021, the company has expanded their product to enable mainstream access to DeFi. Starting with the launch of their popular X-Accounts feature, offering unprecedented levels of interest, Wirex has continued to add to their DeFi arsenal with the release of the non-custodial Wirex Wallet and a partnership with Nereus, a decentralised liquidity market.
Wirex is based in London, with offices in Singapore, Kyiv, Dallas, Dublin and Atlanta. With over $5bn worth of transactions processed already and rapid expansion into new territories, including the US, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions.
Learn more at wirexapp.com