Recently, Wirex - Crypto-friendly payments app, announced the launch of X-Accounts feature, and partnership with Fireblocks.
X-Accounts is a new service that offers Wirex users the chance to earn up to 10% interest on crypto holdings and 16% on fiat funds, in a collaboration with custody and infrastructure firm Fireblocks.
Wirex said that its end objective has always been to make crypto ‘open to all’, offering the ability to make use of crypto in every day with the world’s first crypto-enabled debit card. Going ahead, X-Accounts will open up the complex and expensive DeFi space to everyone, from hardcore crypto investors to casual, everyday users. This will bring the benefits of DeFi to the mass market.
According to Wirex, X-Accounts will allow users to earn unprecedented levels of interest on both fiat and crypto funds as compared to competitors and high-street banks.
"Avoiding the expensive fees and complicated processes often associated with DeFi and yield farming, users will have the ultimate control over their funds, with instant access, no minimum holdings and no maintenance fees for each pot." wrote Wirex.
X-Accounts also includes consistently small charges, exclusive interbank and OTC exchange rates, and free international ATM withdrawals. Other benefit include up to 2% Cryptoback rewards on card purchases, and the ability to hold multiple crypto and fiat accounts with a single user friendly app.
"Maximising digital asset security is extremely important with this level of operational scale and efficiency, especially when it comes to DeFi. Building on top of the Fireblocks platform will bring an additional layer of security to Wirex’s customers as they become a part of the growing DeFi ecosystem." commented Michael Shaulov, CEO and Co-Founder of Fireblocks.
Its worth noting that in May, Wirex migrated 20% of its native token, WXT, to the Ethereum blockchain, and not long ago hosted an exclusive NFT giveaway. Since then, the organization has launched multiple ERC-20 tokens on the platform, including UNI, AAVE and MKR.
