Wirex, the leading Web3 money app, has recently made global headlines by revealing its partnership with Visa, an international payment technology company. According to an official press release dated July 15, the two entities are partnering to further revolutionize Web3 payments across the UK and European Economic Area (UAA). This collaborative venture has echoed optimism across the digital assets sector, underscoring the rising adoption of Web3 payments. So, let’s take a closer look at the partnership that brings to users ‘Wirex Pay,’ a revolutionized approach towards digital and traditional currencies.
Wirex & Visa Partner To Facilitate ZK Payment Chain
Notably, the partnership between the two firms aims to tap into the innovative features of the card service provider and reduce friction in Web3 payment experiences. In particular, users get to enjoy the security and trust offered by the payments company while also enjoying innovative products brought by the Web3 firm.
As a result, the crux of this partnership, ‘Wirex Pay,’ a modular Zero Knowledge (ZK) payment chain developed by the Web3 money company, comes as an effort to streamline user experiences. In context, the product is expected to level up how users manage and spend crypto and traditional currencies, primarily by simplifying and enabling effortless transactions between blockchain technology and traditional finance.
With this endeavor, the Web3 money platform boasts its crypto-narrative stand, securing Visa’s principal license capabilities for card issuance. Overall, the abovementioned development has glimmered hope for the rising adoption of Web3 payments across the globe, with global payment technology firms further embracing it.
Also Read: Visa Crypto Unit Launches Stablecoin Analytics Dashboard
More About The Partnership
The Global Head of Payments at Wirex, Sviatoslav Garal, stated, “Being among the few crypto-native companies licensed by Visa for card issuance, and notably the first principal member of Visa Network in Europe, emphasizes Wirex’s pioneering role in the financial industry. At a time when the financial world is boldly moving towards Web3 and decentralisation, the need for robust solutions for global funds movement remains essential.”
The aid offered by key players in the TradFi space, as in the one mentioned above, plays a pivotal role in bridging the gap between these two spaces, the payments head added.
Meanwhile, Cuy Sheffield, Head of Crypto at Visa, stated that “Partnering with Wirex to help integrate blockchain technology with traditional finance, including the launch of ‘Wirex Pay,’ aligns closely with our vision for the future of payments while highlighting the importance of collaboration in driving fintech innovation.”
Also Read: VISA Survey Uncovers Stablecoin Reality, 90% Users Aren’t Real
The post Wirex & Visa Unveil ‘Wirex Pay’ Revolutionizing Web3 Payments appeared first on CoinGape.
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