#United States #New York #Wirex #stablecoin #Crossmint

Crossmint Collaborates with Wirex to Transform Global Wallet Solutions

In an exciting development within the fintech domain, Crossmint, a comprehensive provider specializing in stablecoin and wallet infrastructure, recently announced its strategic partnership with Wirex. This collaboration aims to revolutionize the global financial ecosystem by leveraging Crossmint's programmable wallet technology to enhance Wirex's offerings.

A New Era for Wirex Pay

Wirex, a well-established name in the fintech industry, serves over 66 million customers across 130 countries and processes transactions exceeding $20 billion annually. As part of its mission to deliver next-generation crypto and stablecoin products, Wirex has integrated Crossmint's efficient wallet stack. This partnership is set to accelerate Wirex's product roadmap and support its ambitious expansion to new blockchain networks.

Through the integration of Crossmint's programmable smart wallets, Wirex is poised to facilitate global onboarding and streamline cross-border money transfers. Impressively, this collaboration allows Wirex to introduce advanced financial products without necessitating users or developers to interact with the complexities typical of blockchain technology.

Efficiency and Speed in Development

One of the noteworthy benefits of this partnership is the significant reduction in engineering efforts required by Wirex. Integration of Crossmint's tech has enabled Wirex to cut down on internal development timelines, sparing an estimated six months in engineering work. The collaboration also lays the groundwork for Wirex to support more blockchain networks, beginning with Stellar and aiming for over twenty in total.

Users can expect a more secure experience with non-custodial accounts, allowing them to access an array of new assets and blockchain networks seamlessly through familiar app interfaces. For Wirex, Crossmint's technology serves as an essential layer that enhances the scalability of its products and market reach.

A Robust Infrastructure

Crossmint’s decision to partner with Wirex stems from the latter's need for a robust infrastructure capable of:

• - Accelerating expansions to multiple blockchain networks
• - Facilitating global onboarding with intuitive login methods such as email and passkeys
• - Offering programmable controls like expenditure limits, whitelisting, and multi-party approvals
• - Minimizing engineering overhead across wallet functionalities and blockchain integrations.

These features significantly enhance Wirex's capacity to bring new financial products to market at an accelerated pace. Furthermore, the integration aligns various components of its on-chain architecture, fostering a seamless user experience across different geographic regions.

As stated by Rodrigo Fernández, co-founder of Crossmint, “Mainstream fintech companies are increasingly adopting programmable financial infrastructures to better serve customers that traditional banks often overlook.” This perspective underscores the essential nature of their partnership, allowing Wirex to roll out financial products across various markets effortlessly while providing users with simpler and more secure account management.

Looking Ahead: The Future of Payment Solutions

Daniel Rowlands, General Manager at Wirex Pay, emphasized the significance of this alliance by stating, “Teaming up with Crossmint allows us to scale our stablecoin infrastructure across additional blockchain networks. It marks a significant milestone in our journey toward making stablecoin payments universally programmable and ready for the next wave of Web3 banking.”

The integration of Crossmint’s technology not only enhances Wirex’s capabilities but also reflects a trend within the financial services industry toward evolving infrastructures that support programmable and decentralized financial solutions. This strategic move opens up opportunities for remittances, neobanking, payroll services, and more, ushering in an era of innovative financial solutions.

Crossmint’s mission revolves around making the movement of blockchain-based value accessible and seamless, ultimately benefiting over 40,000 developers and leading financial institutions. Backed by prominent investors like Ribbit Capital and Franklin Templeton, Crossmint is committed to creating a future where digital finance is available to all.

For more information about Crossmint, visit crossmint.com.

To learn more about Wirex, head to wirexpaychain.com.