A Leading digital payments platform, Wirex, has announced the addition of six new stablecoins to its platform. The addition of the stablecoins is a continuation of Wirex’s goal of bringing crypto to the mainstream
Co-founder and Chief Executive Officer of Wirex, Pavel Matveev, has always believed that stablecoins have an important role to play in the digital economy. Wirex already has more than 4.5 million users. It enables users to hold, buy, exchange, and sell multiple traditional assets and cryptocurrencies.
DAI Is The First Stablecoin On The Platform
The platform integrated DAI, which is the first stablecoin to be added to the platform, in 2019. Since then, more stablecoins have been added to the platform, giving traders a lot of options.
The six tokens include USD Coin (USDC), True (TUSD), Pax Dollar (USDP), STATIS EURO (EURS), Singapore Dollar Stablecoin (XSGD), and Tether (USDT). the tokens above will sit alongside DAI, according to the announcement.
XSGD is the latest stablecoin the firm has added to its platform. It is available on the StraitsX payment platform, which was developed by Xfers Pte Ltd.
The aim is to achieve the goal of the regulated and decentralized financial system in Singapore. As a result, assets like Uniswap (UNI) and Chainlink (LINK) and will be available for consumers. It will enable users to easily convert their tokens using bank transfers of Singapore dollars (SGD).
Wirex Provides More Access To Stablecoins
Matveev added that Wirex was launched to offer an opportunity for crypto trading and investment to all users, irrespective of their crypto experience or lifestyle. Those who are still new to crypto investments will find stablecoins viable investment options.
They are less risky and less volatile than normal cryptocurrencies because they are pegged to a stable asset. This makes sure they offer long-term benefits while offering users the benefits of crypto.
Wirex wants to make cryptocurrency more accessible and available to everyone. The platform offers instant access to a wide range of crypto assets. It also offers traditional assets via mobile apps, with next-gen rewards, DeFi-powered earnings, and OTC exchange rates.