blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
BET NOW
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
BET NOW
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

Wirex Expands to United Kingdom and Spreads out Its Crypto Collateral Services

Umair Younas by Umair Younas
August 4, 2022 - 2:51 pm
in adoption news, bitcoin news
0
Wirex
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

A prominent payment and crypto ecosystem, Wirex, has increased the span of its Wirex Credit project to unique jurisdictions as well as constructed more features. The crypto-supported lines of credit are at the moment accessible to the people residing in the United Kingdom and a token called WXT has been incorporated to provide collateral.

Wirex Issues Wirex Credit for U.K.-based Users

After its launch on the Wirex application in the previous month, Wirex Credit has turned into a considerably famous option for consumers who intend to rapidly and conveniently borrow crypto-supported lines of credit valued at approximately $100,000. Presently, Wirex Credit is offered to customers living in Asia and Europe and after today’s declaration, U.K-based clients can also be benefitted from it.

The launch of the product was carried out to provide its consumers (who are numbered at more than 5M) direct access to the advantages related to DeFi, and complete control and flexibility. Having a substantially intuitive user interface, cryptocurrency borrowing is now convenient more than it ever was. The customers are allowed to straightforwardly borrow stablecoins beginning at zero percent interest, with no set-up or origination charges, and the capability to utilize almost five lines of credit simultaneously, with no requirement of affordability or credit checks.

From now onwards, the clients can utilize Ethereum (ETH), Bitcoin (BTC), and also WXT for collateral. They can get credit in DAI, USDT, USDC, and NXUSD in no time. Customers reimburse when they wish to and just recompense interest for some days during which the line of credit is live. The use cases of the products grasp the attention of a broad-ranged audience, letting the clients easily and swiftly access the liquidity in the hour of need without requiring the crypto in their possession.

Wirex Credit Provides Easy and Rapid Collateral Options

This exclusive liquidity has the potential to be then spent rapidly in real life at more than 80 locations across the globe, in-store, or online. Wirex’s co-founder and CEO, PavelMatveev, remarked that the platform has a great reputation for supplying conveniently utilized crypto goods to regular customers. With Wirex Credit, comes an enormously competitive offering, permitting customers to have easy and fast access to the crypto-supported lines of credit.

Wirex

According to his words, they are making consistent efforts to construct the product that will contain a diverse selection of tokens that can be used as collateral when opening a line of credit. According to him, the fact that the United Kingdom is home to their largest consumer base gives them the opportunity to broaden the scope of the services offered by their Wirex Credit to those customers.

In the next weeks, the provision of Wirex Credit will be carried out uninterruptedly, taking into account the issuance of several well-known tokens to be utilized as the options related to collateral as well as cross-collateral borrowing permitting the consumers to combine diverse assets in the portfolio to obtain a loan. More than $5B worth of transfers is in advance processed by Wirex and it is witnessing expansion to unique jurisdictions in which the United States is also included.

Tags: AdoptionBTCCryptoUKWirex
ShareTweet
Umair Younas

Umair Younas

Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.

Recommended For You

Mercado Bitcoin Attains License as a Payment Provider in Brazil

by Max Clark
June 3, 2023 - 4:42 pm
0
Mercado Bitcoin

Mercado Bitcoin, a leading cryptocurrency exchange in Brazil, has obtained a payment provider license from the Central Bank of Brazil.

Read more

The Future of Bitcoin Casinos: Trends and Innovations to Watch

by Josh Fernandez
June 3, 2023 - 1:31 pm
0
casino

Explore the future of Bitcoin casinos in this article, detailing the key trends and innovations shaping the online gambling landscape.

Read more

Alchemy Pay Starts a Partnership with Mastercard for NFT Checkout Globally

by Umair Younas
June 2, 2023 - 1:05 pm
0
alchemy pay mastercard

This project enables users to use Mastercard for direct purchases of digital artworks through Alchemy Pay NFT Checkout.

Read more

Marathon Digital Records Positive Bitcoin Production In May, Increases 77% In a Month

by Kester Odero
June 2, 2023 - 12:34 pm
0
Bitcoin

Marathon Digital achieves remarkable growth, generating a record-breaking 1,245 BTC in May 2023, an increase of 77% from previous month.

Read more

Pakistani Investors Turn to Crypto as Hedge Against Weakening Rupee

by Mushu Butt
June 2, 2023 - 11:20 am
0
pakistan

Pakistani investors turn to crypto as a hedge against the falling rupee. A survey reveals 10% prefer crypto for salaries, indicating rising adoption.

Read more
Next Post
Coinbase Stock Price Prediction

BlackRock Teams Up With Coinbase To Offer Crypto Services For Institutional Investors

PARTNERS LIST

  • sp

PRESS RELEASE

OvalPixelAIPlayEarngamedXUyMpCt

OvalPixel Launches Groundbreaking Play-to-Earn OPAIG AI Game Token

by Chainwire
June 2, 2023 - 7:53 pm
0

Los Angeles, USA, June 2nd, 2023, ChainwireOvalPixel announced the launch of its groundbreaking blockchain-powered artificial intelligence (AI) trivia game that...

photoy

Regulation Becoming a Problem? Here’s Why Hybrid DeFi Platform HedgeUp (HDUP) Is the Future

by Max Clark
June 2, 2023 - 12:54 pm
0

Explore the emerging world of crypto and blockchain regulation and understand why HedgeUp (HDUP), a hybrid DeFi platform, stands resilient.

DiscoverthePowerofBRCLearnNowxnxuMuCflZ

OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

by Chainwire
June 1, 2023 - 8:13 pm
0

SAN FRANCISCO, UNITED STATES, June 1st, 2023, ChainwireWith BRC-30, OKX Wallet users will soon be able to stake BRC-20 tokens...

photoy

HedgeUp (HDUP) Showcases Why It’s a Better Token Than Chainlink (LINK) and Solana (SOL)

by Max Clark
June 1, 2023 - 1:38 pm
0

Explore the dynamic world of cryptocurrencies with our detailed analysis of HedgeUp (HDUP), Chainlink (LINK), and Solana (SOL).

n

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise