Wirex Token Whitepaper

Wirex is a ground-breaking UK-based, FCA-licenced global leader in digital money solutions for individuals and businesses. Our payment platform pioneered the seamless integration of crypto and traditional currencies to support multi-currency accounts, currency transfers and exchange services. Wirex has a global footprint with 6 offices across the globe, nearly 2 million registered users and availability in 200 countries and territories.

Wirex is built on state-of-the-art technology to make the future of digital payments a reality, today. To realise this goal and facilitate the everyday management of both digital and traditional currencies, Wirex integrates traditional banking infrastructure with cryptocurrency blockchains. This provides a trusted and cost-effective service for digital money transactions which is relevant for both today’s payment environment and the token economy of the future. Wirex is a regulated financial institution and is licensed as an Electronic Money Institution (EMI) by the UK Financial Conduct Authority (FCA), licence number 902025.

By building a solid foundation for scalable and secure services in a regulated environment, Wirex will be the key platform for digital payments in the near future, including merchant payments, cross-border currency exchanges/ transfers and machine-to-machine (M2M) micro transactions. Most importantly, Wirex is available to everyone – from everyday consumers to businesses of all sizes.

The platform currently supports nine cryptocurrencies (Bitcoin, Litecoin, XRP, Ethereum, Lumens, Waves, Wollo, DAI and NANO) and eleven traditional currency accounts (including GBP, EUR, USD, HKD, AUD, CAD, CHF and CZK), with a number of major crypto and traditional currencies in the pipeline.

Wirex was the first company in the world to issue a contactless Wirex Visa card, allowing users to convert and spend cryptocurrencies instantly in day- to-day life. The platform provides unrestricted access to OTC and interbank rates for crypto and traditional currency exchanges. Unlike some other financial institutions and payment platforms, Wirex doesn’t limit access to 4 Wirex Token [ WXT ] Whitepaper Executive Summary Version 1.0 [ June 2019 ]

the best market rates to those who can afford excessive minimum order amounts. Furthermore, we are excited about the successful launch of our unique B2B platform in February 2019 that has already attracted more than 3,000 registrations from corporate customers and has successfully onboarded top tier exchanges and OTC brokers including Huobi, ZBX and Enigma Securities.

True to the goal of bridging the gap between traditional and digital money, Wirex created CryptobackTM, the world’s first crypto reward programme. It earns cardholders 0.5% back in digital currency on all in-store purchases made with the Wirex Visa card.

WXT, the Wirex platform native token, is a universal Stellar-based token extensively used within and outside the Wirex platform, representing a universal fee and reward unit. It is designed to benefit our growing B2C and B2B user communities, help our customers save on fees and let them access unique financial rewards if they maintain the required balances of WXT.

Backed by SBI Group, a globally-renowned financial institution, Wirex has spent the past four years revolutionising payments. It’s no surprise that nearly 2m users across 130 countries already say: “I pay my way. I pay by Wirex.”

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Wirex Token Whitepaper

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