Cryptocurrency and payments ecosystem Wirex has developed additional features and expanded its Wirex Credit program into new areas. It has made its crypto-back credit lines available to UK users and added WXT to the token list to be used for collateral.
Wirex Credit launched last month via the Wirex app. Wirex Credit “became a very popular option for users who want to quickly and easily borrow crypto-backed credit lines up to $100,000.”
Wirex Credit is available to customers in Europe and Asia at the moment. Today’s announcement will also make Wirex Credit available for UK customers. This product is launched to give its users simple access to the DeFi benefits and offers total flexibility and control, according to the company.
Wirex claims that borrowing crypto is now easier than ever, thanks to its intuitive user interface. Customers can instantly borrow stablecoins at 0% interest with no origination fee or set-up fees. They also have the option to take out up five credit lines simultaneously without any credit or affordability checks.
Customers can now use BTC, Ethereum and WXT as collateral and receive instant credit in NXUSD, USDC and USDT. They also pay no interest while the credit line remains active.
Wirex delivers easy-to-use crypto products to the average consumer. Its Wirex Credit offers a very competitive offering that allows users to quickly and easily access crypto-backed credit lines. The lending solution is constantly being developed to provide more options for tokens that can be used as collateral in order to open credit lines.
Wirex will expand its Wirex Credit offering in the coming weeks. This includes the release of popular tokens that can be used as collateral and cross-collateral borrowing, which allows users to combine assets from their portfolios to get a loan.
Wirex was founded with the goal of making digital assets as accessible as possible in daily life. The company has over five million customers in 130 countries and offers secure accounts that enable customers to store, buy, and exchange multiple currencies instantly using one mobile app.