Web3 money app Wirex has announced the early access launch of Wirex Pay, inspired by the shift to self-custody wallets and the decreasing trust in centralized platforms. Available for download on October 9 for select whitelisted users, the Wirex Pay app allows users to make daily payments with cryptocurrencies through their own custodial wallets.

Wirex Pay co-founder Pavel Matveev highlighted the lack of trust among investors following incidents like FTX and Celsius. Wirex Pay aims to address this trend by giving users full control over their funds.

Wirex Pay supports cryptocurrencies such as Tether (USDT), USD Coin (USDC), and Dai (DAI), and is available in 54 countries. Mastercard also recently added support for its own custodial wallets, increasing institutional support in this space.

Do you think the decline in trust in centralized platforms will continue? Share your thoughts in the comments.