Wirex, a crypto and payments ecosystem, has expanded its Wirex Credit program to new regions and developed additional features.
Wirex’s crypto-back credit lines are now available to UK users and has added WXT as a token to be used as collateral.
Having launched last month, Wirex Credit has become a hugely popular option for users wanting to easily and quickly borrow crypto-backed credit lines of up to $100,000. Credit is currently available to users in Europe and Asia.
The product was launched to give their 5 million users access to the benefits of DeFi. Customers can instantly borrow stablecoins starting at 0% interest, no origination or set-up fee, the ability to take out up to 5 credit lines at once, with no credit or affordability checks required.
Customers are also able to use BTC, ETH and now WXT as collateral, and instantly receive NXUSD, USDT and DAI as credit.
Wirex CEO and co-founder Pavel Matveev said, “Wirex has a long-standing reputation of delivering easy to use crypto products for the everyday consumer. Wirex Credit brings a hugely competitive offering, allowing users quick and easy access to access to crypto-backed credit lines. We’re continuing to develop the product to offer more choice of tokens to be used as collateral to open a credit line. With our largest customer base in the UK, it’s great to be able to expand Wirex Credit to these users.”
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