Wirex Introduces W-Pay: A Revolutionary App Chain Powered by Zero-Knowledge Technology
Wirex, a global digital payment platform, has launched W-Pay, an App Chain that utilizes Zero-Knowledge (ZK) technology to facilitate seamless connections between decentralized applications (dapps), non-custodial wallets, and traditional payment infrastructures. W-Pay, built on Polygon’s Chain Development Kit (CDK), harnesses the power of Zero-Knowledge Proofs (ZK-proofs) to enhance scalability and security.
ZK-proofs have gained significant traction in the cryptocurrency realm for their ability to address scalability issues while bolstering privacy and security in blockchain networks. These cryptographic proofs enable one party to demonstrate the truth of a statement to another party without revealing specific details about the statement itself.
W-Pay Revolutionizes Payments with Zero-Knowledge Technology and Non-Custodial Debit Cards
W-Pay introduces a payment solution that leverages ZK technology for swift and secure transactions. It allows users to conduct card transactions within predefined limits and integrates decentralized applications (DApps) and non-custodial wallets with traditional payment systems.
To overcome payment-related challenges, W-Pay offers non-custodial crypto debit cards. DApps and non-custodial wallets can issue debit cards independently without third-party intermediaries, giving account owners complete control over their funds. Wirex facilitates card transactions within predetermined limits, enabling seamless integration between DApps, non-custodial wallets, and traditional payment systems.
Furthermore, W-Pay is compatible with the Ethereum Virtual Machine (EVM), promoting interoperability within the cryptocurrency ecosystem. It also incorporates Account Abstraction (AA) to simplify transaction processes and enhance user experience.
Wirex: Pioneering Cryptocurrency Payments and Global Industry Leader
Wirex has been at the forefront of cryptocurrency payments since 2015 when it introduced the first payment card with crypto functionality. With over six million customers and as a principal member of Visa and Mastercard, Wirex is a global industry leader.
Headquartered in London, Wirex has a global presence and has processed over $20 billion worth of transactions. It continues to expand into new markets like the US and Australia, driving the widespread adoption of cashless transactions through innovative solutions.
In recent years, Wirex has diversified its services by partnering with 1inch for wallet-based token swaps and integrating with the Avalanche network for AVAX token deposits and usage via a debit card.
Hot Take: Wirex’s W-Pay Revolutionizes Payments with Zero-Knowledge Technology
Wirex’s introduction of W-Pay, an App Chain powered by Zero-Knowledge technology, marks a significant milestone in the world of cryptocurrency payments. By leveraging Zero-Knowledge Proofs, W-Pay offers enhanced scalability, security, and privacy for seamless connections between decentralized applications, non-custodial wallets, and traditional payment infrastructures.
This revolutionary solution also introduces non-custodial crypto debit cards that empower DApps and non-custodial wallets to issue debit cards independently. With Wirex facilitating transactions within predefined limits, users have complete control over their funds while enjoying integration between various payment systems.
With its track record as a pioneer in cryptocurrency payments and its global industry leadership position, Wirex continues to drive innovation and advance the widespread adoption of cashless transactions.
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