Wirex, the global onchain financial services platform, has announced Wirex One, a stablecoin-powered consumer finance app that brings instant onchain payments, true ownership, and privacy-preserving financial transactions to everyday users. The announcement follows the release of a new litepaper outlining the company’s vision to build the most comprehensive, advanced financial stack, supporting the next generation of global payments and settlement. 

According to a recent Morph report, stablecoins now facilitate $33 trillion in annual transaction volume - more than Visa and Mastercard combined - with over 70% of that activity coming from real-world payments, payroll and B2B settlement. As global adoption grows, users demand infrastructure that provides easy access to the benefits of stablecoins.

The litepaper highlights Wirex’s chain-agnostic architecture underpinning its broader ecosystem, including Wirex BaaS – who recently became the fastest growing stablecoin infrastructure – Wirex Business, Wirex Private, and Wirex Agents. Together, these products form a unified, end-to-end financial stack enabling business and retail users to utilise and embed stablecoin-based accounts, cards, payments, and yield.

It also introduces Wirex One, which combines an unparalleled, neobank-style user experience, with a fully onchain design. It’s supported by a unique institutional-grade technology stack: Circle’s Arc – a stablecoin-optimised Layer 1 blockchain on which Wirex aims to be an early app – and Privy, the industry-leading non-custodial wallet provider. This gives users direct ownership over assets, enterprise-grade security, instant settlement, and transaction privacy, without seed phrases or the complexity of current onchain crypto wallets.

The app will offer a breadth of functionality not typically available in any single app today, with premium banking-style features and an innovative membership structure driven by WPay, Wirex’s native utility token. It includes a stablecoin-funded card with rewards paid instantly in USD, stablecoin yield options, fee-free FX and ATM withdrawals, and enterprise-grade security. A broader roadmap includes tokenised equities and perpetual trading shortly after launch. Rewards are instantly spendable using Wirex’s crypto-enabled card, avoiding the volatility and lock-ups associated with competitor token-based cashback programmes.

Pavel Matveev, CEO of Wirex, said: “The traditional financial system needs updating: liquidity is fragmented, transactions are inefficient, and people globally are locked out of it. Stablecoins and onchain settlement are changing this. Our litepaper outlines how we’re building the infrastructure required for mass adoption, solidifying our goal to become a financial super app”.

He added: “As regulatory oversight increases and counterparty risk becomes a growing concern, users want platforms that protects their autonomy, whilst retaining the benefits of decentralised technology. Wirex One brings those benefits to a mainstream banking experience. Whilst other platforms bolt stablecoins onto legacy architecture, creating friction and limits; Wirex One is built entirely onchain from the start.”

Wirex One will be released publicly in the coming weeks following final testing, with full details to be announced at launch.