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Crypto startup Wirex adds support for WAVES token

Image Via Wirex (Twitter)

Jan 11, 2019 09:16 am UTC

Wirex, the UK-based digital money platform, has announced that it is collaborating with blockchain startup Waves to add support for the WAVES token on its platform.

WAVES is currently among the top 25 cryptocurrencies in terms of market cap. Wirex said that the WAVES token holds a “unique place” in the crypto space because “its underlying utility addresses some critical hurdles that hinder the mainstream adoption of blockchain technology, such as scaling, interoperability and security.”


Previously E-Coin, Wirex is a hybrid personal finance platform that facilitates the seamless conversion of cryptos and traditional currency. In August 2018, it was granted a UK FCA (Financial Conduct Authority) e-money licence.

The Waves platform, on the other hand, was launched in 2016 and has become one of the fastest, secure and user-friendly public blockchain platforms. Wirex noted that Waves is closer to Ethereum than bitcoin in terms of its underlying protocol.

“Ethereum is used to develop various DApps, but it can be expensive due to its Smart Contract language complexity and Gas fees that can grow dramatically over time. Waves Smart Contracts are simplified – they are a plug-and-play solution with fixed fees. Another improvement is the Waves-NG protocol with throughput of up to 1000 TX/s,” the release said.

In addition, the Waves platform also has benefits for miners. Individuals who want to mine WAVES tokens don't have to run a node themselves; rather, they can lease their wallet balance to someone who does. It basically offers built-in mining pool functionality that gives users even more flexibility.

“While the Waves Platform is a bridge between the web and blockchain, we are a bridge between traditional and digital currencies. Together we solve many pain points in the industry,” Pavel Matveev, CEO and Co-founder of Wirex, said.

“Our platform provides extra liquidity for cryptocurrencies and gives investors the ability to convert and spend their crypto instantly with our Wirex Visa card. Investors who buy WAVES through our platform will know they are with a safe, agile, cost-effective service. In addition, our existing users will have another strong and popular token to add to their portfolios.”

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