Wirex, a digital payment platform, has announced the integration of Avalanche (AVAX) into its ecosystem.
It has been reported that with the move, users can receive, send, store and exchange AVAX tokens, and add custom tokens via the Avalanche blockchain. The company plans to onboard multiple AVAX based tokens over the next few months.
However, in addition, Wirex users will be able to earn 20% in annual interest on AVAX through the firm's decentralized finance savings product, X-Accounts. The company has over 4.5 million users in more than 120 countries across its app, wallet, and payment platforms.
John Wu, the President of Ava Labs, the creator of the AVAX blockchain, said:
"Wirex is moving fast to make digital assets and the innovation happening on public blockchains more accessible to the masses."
Pavel Matveev, the CEO and co-founder of Wirex, said that the addition of AVAX is "helping to develop use cases for the Wirex ecosystem," especially around improving blockchain accessibility. Wirex claims to have developed the world's first crypto-enabled payment card in 2015.
The report said that in January, the company expanded to the United States and onboarded the Polygon, BNB Beacon Chain, and Fantom blockchains at around the same time. Wirex also has its own native utility token, WXT, and a crypto reward program that gives cardholders up to 2% back in WXT for every transaction they make.
Thus, the company has processed more than $5 billion worth of transactions since 2014.