Decentralized payment network Wirex Pay unveiled the launch of its mainnet. Created by Wirex and backed by payment card services corporation Visa, the platform aims to simplify, secure, and enhance accessibility for decentralized payments.

Wirex Pay is aimed at streamlining payments through blockchain technology. The mainnet launch enables users to utilize Wirex Pay as a substitute for conventional payment methods. Its cards facilitate the integration of decentralized finance into everyday transactions and will soon be accepted by more than 80 million vendors throughout over two hundred states, as per the announcement.

The platform also revealed plans to release its token, WPAY, in the upcoming month, which is intended to be used to facilitate participation in the Wirex Pay DAO and enable individuals to take part in the network’s development.

The latest development comes after a node sale, which helped guarantee the Wirex Pay is both community-driven and safe. Wirex Pay Nodes enable individuals to earn rewards while participating in the network. After a whitelist sale that offered over 18,000 nodes and raised $5 million, a total of 100,000 nodes were sold across 40 different tiers.

Wirex Pay integrates traditional and decentralized finance by utilizing the Wirex platform’s capabilities. Its Pay Card is a self-custodial debit card that allows users to use their digital assets within the traditional economy via the Wirex Pay network. Additionally, it offers direct control over the funds, eliminating counterparty risk.

1/ BIG NEWS! Wirex Pay Mainnet is now LIVE!

We're excited to bring a new era of decentralized payments to life. This is more than an upgrade – it's a revolution in how we transact worldwide. pic.twitter.com/54G7aBJ0Po

— Wirex Pay (@wirexpaychain) August 28, 2024

Wirex Partners With CoinTracking To Simplify Crypto Taxes For Users 

Wirex represents a cryptocurrency exchange platform that allows individuals to buy, store, exchange, and spend fiat and cryptocurrency through its application. It offers near-instant cryptocurrency transactions, real-time exchange rates, and customizable address books to facilitate easy transfers.

Recently, it has partnered with CoinTracking, a cryptocurrency tax tool used by 1.75 million people globally. This collaboration aims to simplify and streamline the cryptocurrency tax process for users, making it more manageable and less stressful.

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