Wirex, a leading crypto payment service provider, has unveiled its innovative noncustodial crypto debit card service, W-Pay, powered by zero-knowledge proofs (ZK-proofs). This groundbreaking solution, launched on October 3, leverages Polygon’s Chain Development Kit (CDK) to deliver heightened scalability and security.
In a major stride towards enhancing crypto payment services, Wirex has embraced zero-knowledge technology in its latest offering. Polygon’s CDK, tailored for ZK-proofs, empowers both companies and users to create their ZK-powered layer-2 infrastructure.
ZK-proof-based solutions have gained traction in the crypto realm due to their ability to verify claims without revealing sensitive information. Ethereum and Polygon have been at the forefront of ZK-proof development.
W-Pay, the new crypto debit card service, introduces pioneering features that allow noncustodial wallets and decentralized applications (DApps) to issue crypto debit cards. This innovative approach eliminates third-party risks and grants users full control over their funds.
W-Pay’s primary features include quick and safe transactions enabled by the integration of ZK technology, Ethereum Virtual Machine (EVM) compatibility, and account abstraction, which speeds transaction procedures by removing underlying complications.
This ZK-proof-based solution also supports card transactions up to a predetermined limit and facilitates the integration of DApps and noncustodial wallets with traditional payment systems. W-Pay is poised to revolutionize on-chain card payment services.
Wirex, renowned for creating the first crypto-enabled payment card in 2015, has a customer base exceeding six million. It holds the esteemed status of being a principal member of both Visa and Mastercard.
Wirex’s innovative approach marks a strategic move in enhancing security and control for its users.
Wirex is a financial services platform that offers a range of services, including a Wirex card. Low fees and the Wirex Card make Wirex a go-to platform for those looking to interchange and spend both fiat and crypto.