wirexapp.com Open in urlscan Pro
2606:4700:3108::ac42:2871  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Notice: This website uses cookies. If you want to know more or withdraw your
consent to all or some of the cookies, please refer to the cookie policy. By
clicking “I Accept”, scrolling this page, clicking on a link or otherwise
continuing to browse, you agree to the use of cookies.

I Accept
Log inOpen an account

Blog Homepage >All Topics >Wirex News >


WIREX UNVEILS THE DUAL-MODE CARD WITH SEAMLESS DEFI INTEGRATION

Region: Europe
Oct 16, 2023, 9:24:09 PM Published By Wirex Team

Wirex is excited to introduce the Dual-Mode Card, designed to seamlessly
integrate the benefits of traditional financial systems with the revolutionary
potential of DeFi.


DUAL-MODE FUNCTIONALITY

The Wirex card operates in two distinct modes, each tailored to cater to the
diverse needs of our global user base.

DEBIT MODE (FIAT & STABLECOINS)

 * Functionality: Operates like a conventional debit card, deducting balance
   upon transaction.
 * Support: Supports both fiat currencies and stablecoins.
 * Use Case: Ideal for users who prefer the stability of fiat or stablecoin
   spending, ensuring predictable value and minimising volatility.

CREDIT MODE (CRYPTO)

 * Functionality: Instead of directly spending cryptocurrency, which could
   trigger a taxable event, Wirex uses the user's crypto holdings as collateral
   to open a Collateral Debt Position (CDP).
 * DeFi Integration: By leveraging DeFi protocols, Wirex sources liquidity,
   ensuring users benefit from decentralised lending and borrowing mechanisms,
   thereby eliminating third-party risks.
 * Use Case: Perfect for crypto enthusiasts who wish to spend without
   liquidating their digital assets, preserving the potential for asset
   appreciation.


ADVANTAGES OF THE WIREX DUAL-MODE CARD

 * Flexibility: Users can effortlessly toggle between Debit and Credit modes,
   tailoring their spending experience in real-time based on their preferences
   and market conditions.
 * Tax Efficiency: The Credit mode ensures that users can leverage their crypto
   assets for spending without triggering a taxable event, a significant
   advantage in many jurisdictions.
 * DeFi Integration: By utilising DeFi to source liquidity in the Credit mode,
   Wirex ensures faster, more efficient, and transparent financial operations,
   removing the traditional banking system's inefficiencies and bottlenecks.
 * Asset Preservation: Users retain the potential upside of their crypto
   holdings, as these assets are not sold but used as collateral.




WIREX CARD MEETS W-PAY CHAIN

Taking the innovation a step further, the Wirex Dual-Mode Card will be
intrinsically connected to the Account Abstraction (AA) balance on the Wirex App
Chain.

This integration is a game-changer in the realm of digital finance, offering
unparalleled benefits:

 * Direct Control: By linking the card to the AA balance, Wirex ensures that
   users have direct control over their funds. This eliminates the need for
   intermediaries, ensuring transactions are swift, transparent, and efficient.
 * Elimination of Third-Party Risk: Traditional financial systems often involve
   multiple intermediaries, each introducing potential points of failure or
   risk. By connecting the Dual-Mode Card directly to the AA balance, Wirex
   removes any third-party risk, ensuring that users' funds are secure and under
   their complete control.
 * Empowerment of Account Owners: Whether you're an individual user or an
   enterprise, the connection to the AA balance empowers you with full autonomy
   over your funds. This means you can manage, spend, and secure your assets
   with the confidence that you're in the driver's seat.
 * Seamless Integration with DeFi: The connection to the AA balance further
   enhances the card's DeFi capabilities. Users can leverage the vast potential
   of decentralised finance, enjoying benefits like yield farming, liquidity
   mining, and more, all while maintaining direct control over their assets.

The integration of the Wirex Dual-Mode Card with the AA balance on the Wirex App
Chain is a testament to Wirex's commitment to pushing the boundaries of what's
possible in the digital payment realm. It's not just about spending; it's about
empowering users with control, security, and the vast potential of DeFi.

Stay tuned for exciting updates on the upcoming Wirex Dual-Mode Card!

W-Pay Wirex Dual Mode Card
share



LATEST POSTS

See more >
Wirex News

WIREX UNVEILS THE DUAL-MODE CARD WITH SEAMLESS DEFI INTEGRATION

Experience the future of finance with the Wirex Dual-Mode Card, seamlessly
blending traditional and DeFi. Dual-Mode Functionality.
Oct 16, 2023Wirex Team
Women in Crypto

NOMINATE THE COMPLIANCE LEADER OF THE YEAR FOR RISING WOMEN IN CRYPTO POWER LIST

Celebrate outstanding women in crypto compliance!
Oct 16, 2023Wirex Team
Lifestyle

A SNAPSHOT OF OUR AWARDS

Discover the numerous awards received by Wirex, the leading crypto platform
empowering users since 2014
Oct 14, 2023Wirex Team
 * 
 * 
 * 
 * 
 * 
 * 
 * 
 * 
   



©2023 Wirex Limited (CRN 09334596), whose registered office is 9th Floor, 107
Cheapside, London,  EC2V 6DN, United Kingdom. Wirex Limited is authorised by the
Financial Conduct Authority (FRN: 902025) under the Electronic Money Regulations
2017 for the issuing of electronic fiat money and payment instruments. The
Financial Ombudsman Service or the Financial Services Compensation Scheme do not
apply to the cryptoasset activities carried on by Wirex Limited.  



©2023 UAB Wirex (Registration Number: 305118023) whose registered office is 
Perkūnkiemio g. 13 – 91, Vilnius, Lithuania. 

©2023 Wirex Digital D.o.o (CRN 78679748084), whose registered office is Ulica
Franje Petračića 4, 10110 Zagreb, Croatia.