Wirex, a prominent Web3 financial application, gained attention with its recent collaboration with Visa, a significant participant in the global payment technology industry.
Wirex, a leading Web3 financial application, has announced a collaboration with Visa, a major player in the global payment technology industry.
The partnership, which was unveiled on July 15, aims to revolutionize Web3 payments in the United Kingdom and the European Economic Area (EEA). It will involve the introduction of ‘Wirex Pay,’ an advanced Zero Knowledge (ZK) payment channel designed to enhance user transactions involving both digital and fiat currencies.
The initiative will see Visa’s established payment infrastructure integrated with Wirex’s innovative Web3 solutions, to simplify and secure payment experiences.
Wirex, which is known for its pioneering crypto-native financial services, has now become the first principal member of Visa in Europe. The achievement highlights the company’s role in facilitating the integration of traditional finance (TradFi) with Web3.
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Sviatoslav Garal, Global Head of Payments at Wirex, highlighted the significance of the partnership in enabling global fund movements, as the industry transitions to Web3 technologies and decentralization.
Meanwhile, Cuy Sheffield, Head of Crypto at Visa, spoke about the joint effort to advance fintech innovation and ensure the smooth integration of blockchain technology into traditional financial systems.
The strategic alliance not only underscores Wirex’s commitment to advancing Web3 payment solutions but also highlights Visa’s proactive approach in incorporating emerging technologies into the future payment landscape.
Also Read: Coinbase Lawsuit Against SEC, Gary Gensler Slows Down
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