VADUZ, Liechtenstein — Wirex, a prominent player in the fusion of traditional and digital finance, has revealed that it will now offer VNX Euro (VEUR) and VNX Swiss Franc (VCHF) on its platform. This new feature enables Wirex users to utilize VEUR and VCHF directly with their Wirex cards, simplifying everyday transactions and promoting user convenience.
### Wirex Integrates VEUR and VCHF Stablecoins for Effortless Transactions
The Wirex card provides users with versatile options for utilizing VEUR and VCHF. Users can receive payments in these stablecoins, conduct remittances—including international transfers—or convert digital assets into stablecoins rather than fiat currencies. This functionality allows for seamless real-world spending. Additionally, users can quickly exchange their stablecoins for fiat currency and transfer it directly to their bank accounts, catering to those who favor conventional banking practices. Pavel Matveev, the Co-founder of Wirex, expressed enthusiasm about the addition of VEUR and VCHF to the platform, stating that it enables users to conveniently spend stablecoins for everyday purchases, remittances, and managing digital assets. He emphasized Wirex’s mission to make digital currencies as accessible and functional as traditional money, with VEUR and VCHF representing another step toward that goal.
### Upcoming Features to Enhance User Experience
Following the initial launch, Wirex plans to introduce additional features to complement the immediate advantages of VEUR and VCHF. These forthcoming offerings will include loans and high-yield X-Accounts, which are becoming increasingly popular among Wirex users. The loan feature presents a tax-efficient way to access liquidity without needing to sell underlying digital assets. Users can use their BTC, ETH, SOL, and other cryptocurrencies as collateral for loans in stablecoins, allowing them to benefit from potential asset appreciation while accessing funds without triggering tax events. X-Accounts will enable users to earn competitive yields of up to 15% APY on their stablecoin holdings, enhancing the value proposition of holding VEUR and VCHF within the Wirex ecosystem.
### Future Trading Opportunities with VEUR and VCHF
VEUR and VCHF are poised to become favored choices within Wirex’s advanced trading products, such as Wirex DUO and Wirex Multiply. Interestingly, stablecoins backed by the Euro have seen significantly higher usage rates among Wirex users compared to their larger USD counterparts, indicating a strong demand for Euro-denominated trading options. As Wirex considers integrating VEUR and VCHF into these advanced products, it aims to reinforce its status as a leader in digital finance, offering innovative solutions that bridge traditional finance and digital assets.
### Understanding VEUR and VCHF
Both VEUR and VCHF are multichain tokens tied to the Euro and Swiss Franc, respectively, developed by VNX and issued by a licensed token generator under Liechtenstein’s Blockchain Act. These tokens are backed by reserves that ensure a 1:1 parity with their fiat counterparts, making them reliable digital assets in the cryptocurrency landscape. By merging the stability of fiat currencies with the benefits of cryptocurrency, VEUR and VCHF enable fast, cost-effective, and always-accessible cross-border payments while unlocking new opportunities in decentralized finance (DeFi).
### Wirex’s Commitment to Digital Finance
Wirex is a leading digital payments platform based in the UK, boasting over 6 million users across 130 countries. It provides secure accounts that facilitate easy storage, purchasing, and exchange of multiple currencies. As a principal member of Visa and Mastercard, Wirex transcends conventional financial services by embracing the emerging Web3 trends, aiming to provide mainstream access to digital finance and wealth management. With a transaction volume exceeding $20 billion, Wirex is dedicated to fostering the transition to a cashless society by simplifying transactions across various currencies on a global scale.
