Wirex opens access to cryptocurrency trading for residents of Ukraine

The British payments processor Wirex has given Ukrainian residents access to buying and exchanging cryptocurrencies, and has enabled DeFi-based savings accounts. ForkLog reported this, citing company representatives.

Verified Ukrainian users can trade via the Wirex app in Bitcoin, Ethereum, Dogecoin, and more than 20 other crypto assets.

Savings crypto accounts based on DeFi products named X-Accounts will allow up to 16% сложных процентов per year on selected currencies, the company claims. Interest can also be credited in the native currency WXT.

According to Wirex CTO Ruslan Kolodiyazhny, the company has long planned to enter the Ukrainian market, believing it to be promising.

The next step in developing the product in Ukraine will be the launch of a card that will allow paying with cryptocurrencies for goods and services at Ukrainian merchants, automatically converting digital currencies into hryvnias, and the creation of a virtual card for Apple Pay and Google Pay.

As the company notes, Wirex MasterCard and Visa cards are currently used by more than 4 million people in 130 countries.

In 2020, the company became a licensed participant in the Mastercard network and a full member of Visa.

launched a multi-currency Mastercard card with support for digital assets in the United Kingdom and the European Economic Area.

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