Wirex and Polygon jointly launches new payment method in India on mass-market wallet

Cryptocurrency platform Wirex and ethereum-based blockchain scaling service provider Polygon have jointly launched a new payment method in India. With this, Wirex is expanding its suite of top-up methods on their non-custodial wallet for the Indian customers. 

A non-custodial wallet allows users to own their private key unlike a custodial wallet where the service provider owns the keys of the users and holds the assets in custody.

The Wirex wallet is available globally and was created to make the benefits of Decentralised Finance (DeFi) available for everyday users. It allows users to manage over 100 different cryptocurrencies and NFTs from their mobile device.

With this, Wirex’s customers in India can purchase crypto such as MATIC, BTC and DOGE, by adding another payment method using mobile payment and bank transfer. This comes in addition to debit/credit and Apple/Google Pay options already available. With a direct on-ramp in place, it will save users large amounts of time, effort and gas fees without the need to exchange on other platforms, the company said.

“Wirex has rapidly expanded the blockchains offered on the Wirex Wallet to give users more choice, including Ethereum, Fantom, Avalanche, Binance Smart Chain, and recently, the Polygon blockchain. Combining the best of Ethereum and sovereign blockchains, Polygon has already proven hugely popular across the globe thanks to its low fees, fast transaction speeds and highly secure nature,” the company said in a statement.

“Having already gained a global reputation for innovation, we’ve released the Wirex Wallet to enable mainstream users to benefit from DeFi. Extending the features and functionality for customers in India is the next step in this. As the largest crypto market in the world, it’s important that we provide a best in-class experience for users by offering the ultimate convenience, flexibility and security when using the app,” said Pavel Matveev, CEO and Co-Founder of Wirex.

“Wirex continues to add new features and functionality to its user-focused platform and its expansion of payment methods will add to its work in onboarding new users as seamlessly as possible. Polygon is delighted to be a part of these efforts, and we hope we can do our part for the increased adoption of cryptocurrencies around the world,” said Antoni Martin, Enterprise Lead at Polygon.

On May 10, the company announced that it will work with Visa on a crypto-backed card to offer a suite of payment and crypto-related services.