Wirex Wallet and Paraswap Partner for Unrivalled DeFi Access
- E-Wallets , Cryptocurrencies
- 08.03.2022 03:00 pm
Leading crypto platform, Wirex, has partnered with DEX aggregator, Paraswap, to make DeFi more accessible than ever before. Using Paraswap’s market-leading price algorithm, Wirex Wallet users will now be able to seamlessly exchange multiple tokens, saving users large amounts of money and effort.
Since inception in 2014, Wirex has endeavoured to break down barriers to access for crypto, blockchain and DeFi. With a growing number of tokens and blockchains emerging with an infinite number of benefits and use cases, interoperability is vital in realising a mainstream digital economy, and Paraswap’s application is helping to make this a reality.
As one of the most prominent DEX aggregators, Paraswap has launched on the Wirex Wallet to enable users to easily swap their tokens at a low cost. Using a market-leading price algorithm locating the best possible trading rate on various DEX, it will offer zero-commission swaps between tokens, making the Wirex Wallet one of the most competitive products in the space.
Wirex's non-custodial wallet launched in December, cementing their vision to create one of the world’s most user-friendly wallets, and follows their overwhelming success with the Wirex app that boasts over 4.5 million customers. Utilising keyless technology using biometric access, multi-party computation technology for enhanced security, as well as an industry-leading user interface, millions of users are now able to access the benefits of DeFi.
The partnership with Paraswap has become even more pertinent as Wirex has sought to expand the blockchains on the Wirex Wallet, having recently announced the addition of the popular Avalanche, Polygon, Binance Smart Chain and Fantom blockchains. Cross-chain compatibility thanks to a recent integration with Celer Network’s cBridge application complements the Paraswap partnership, by also allowing tokens to be exchanged between blockchains.
Pavel Matveev, CEO and Co-Founder of Wirex, noted that: “For many years, it’s been difficult for everyday users to take advantage of DeFi and crypto. We’ve begun growing the number of blockchains on the wallet to enable users to access more blockchains and tokens with less congestion, lower transaction fees and faster speeds, and a partnership with Paraswap will allow them to easily move between these at low costs.”
"We are delighted to partner with Wirex and help enable their large community of users to benefit from the rich opportunities offered by DeFi," said Mounir Benchemled, Founder of ParaSwap. "Through this integration, we hope it provides an edge to the product and expands the fundamentals of DeFi to a new market segment."
Wirex has also recently partnered with uTorg, providing a user-friendly, direct on-ramp for purchasing tokens directly on the blockchain within the Wallet, and in the coming weeks, plans to add the Solana blockchain.