Wirex Launches W-Pay: A Game-Changer in Crypto Debit Cards

Introducing W-Pay: A Zero-Knowledge Proofs-Based Crypto Debit Card Service

Crypto payment service provider Wirex has unveiled its latest innovation in the world of crypto debit cards. The company has launched W-Pay, a non-custodial crypto debit card service that utilizes cutting-edge zero-knowledge proofs (ZK-proofs) technology.

Enhanced Scalability and Security with Zero-Knowledge Technology and Polygon's Chain Development Kit

W-Pay is built on Polygon's Chain Development Kit (CDK) and incorporates Zero-Knowledge technology, providing users with increased scalability and security. Zero-Knowledge technology allows parties to verify claims without revealing any sensitive information, making it a highly sought-after solution in the crypto space.

Unleashing the Power of Non-Custodial Wallets and Decentralized Applications (dApps)

W-Pay offers groundbreaking features that enable non-custodial wallets and decentralized applications to issue non-custodial crypto debit cards. This decentralized approach eliminates third-party risks, giving account owners complete control over their money.

A Swift and Secure Experience with Ethereum Compatibility and Account Abstraction

W-Pay ensures smooth and secure transactions through the integration of Zero-Knowledge technology. It is also compatible with the Ethereum virtual machine (EVM) and incorporates Account Abstraction (AA) to streamline transaction processes and eliminate complexities.

Bringing On-Chain Card Payment Services to a New Era

With its ZK-proofs-based decentralized solution, W-Pay enables card transactions up to a predetermined limit. It also supports the integration of decentralized applications and non-custodial wallets with conventional payment rails. Wirex believes that W-Pay will revolutionize on-chain card payment services.

Wirex: The Pioneer in Crypto Payment Cards

In 2015, Wirex created the first payment card with crypto functionality, allowing users to seamlessly switch between digital and fiat currencies in their everyday transactions. The company boasts a customer base of over six million and is a principal member of Visa and Mastercard.

Overcoming Challenges with Card Partner UAB PayrNet

Wirex's announcement of W-Pay comes amidst difficulties with its card partner, UAB PayrNet. In June, Lithuania's central bank revoked UAB PayrNet's license, leading to the suspension of its services in the European Economic Area (EEA). Wirex has yet to comment on the situation.

Source: Originally published on cointelegraph.com