London-based leading digital payment startup, Wirex has listed five crypto assets on their platform from leading Defi market players. AAVE, LINK, MKR, UNI and YFI are the latest crypto coins listed on its platform and will be available to purchase fee-free for a limited period.
Democratising blockchain-based financial solutions
There are many arguing about 2021 as a remarkable year for DeFi. The ERC-20 tokens listing proves the point in establishing Wirex’s vision to democratise access to the benefits of crypto. By keeping financial innovation at the forefront, these organisations are developing blockchain-based solutions to traditional financial services. It allows addressing real-world problems and giving consumers more control over their money.
Additionally, the coins will build on the 9 crypto and 9 traditional currencies that Wirex currently offers. Wirex users can buy, hold, exchange and spend these currencies, through contactless Wirex cards at over 61 million locations globally. It bridges a gap between the traditional way of finance and the modern digital form. Partnering Wirex’s crypto payments innovation with the best of DeFi technology with the addition of the new wallets will be an important step in further decentralising the financial system.
Integration of Leading DeFi crypto coins
Aave is an open source decentralised and non-custodial protocol that has seen over $7 billion worth of total deposits as of April 2021. It allows supplying and borrowing of a variety of crypto assets and lets users earn an interest on their crypto assets supplied to the protocol. AAVE token holders can participate in protocol governance by voting on updates.
Chainlink is a tool for merging blockchain technology with real-world applications using open-source technology called oracles. It aims to connect smart contracts and external data sources and provide them with accurate and reliable data outside of the blockchain. The LINK token helps to finance the growth of the Chainlink project.
The launch of an MKR wallet with Wirex provides the opportunity for users to acquire MKR (Maker) and governance rights over the Maker Protocol, a series of smart contracts that stabilise the value of DAI.
Uniswap is one of the largest decentralised exchanges in the world. It helps users buy and sell crypto assets as easily as traditional currency exchanges. They achieve this by allowing individuals to deposit crypto assets through smart contracts that traders can also access. Their native token, UNI, enables holders to vote on proposals that will improve Uniswap’s development and ecosystem.
Yearn Finance is a decentralised asset management platform that provides a suite of products ranging from liquidity aggregation, yield generation, lending, to insurance on the Ethereum blockchain. The protocol is maintained by various independent developers and is governed by YFI token holders as a Decentralized Autonomous Organisation.
Pavel Matveev, CEO and Co-Founder of Wirex explained: “we are very excited to now offer AAVE, LINK, MKR, UNI and YFI for purchase and to build more bridges between DeFi and traditional financial infrastructure. Listing these tokens on our platform will give Wirex users more choice and freedom to spend crypto in the everyday, and the unique and enduring nature of these DeFi projects will help to raise mainstream awareness of blockchain and to open up the financial system.”
Complemented by the CEO and Founder of AAVE, Stani Kulechov said that: “DeFi is about accessibility, and Wirex makes it simple for users to onboard and use digital assets. Wirex’s commitment to putting DeFi in the hands of mainstream users is important to the development of the space, and we look forward to their continued innovation.”
The launch of AAVE, LINK, MKR, UNI and YFI are just the first of a series of listings this year, with plans to release further DeFi cryptocurrencies on the platform in the coming months.Internet Explorer Channel Network