Wirex reveals WXT, a new native cryptocurrency

Wirex, a market-leading digital payment platform, today announced the release of the Wirex Token (WXT), their first native cryptocurrency, in an Initial Exchange Offering (IEO) on OKEx. The new token is designed to help users access unique rewards, save on fees and own their own share of Wirex.

Pavel Matveev, Wirex CEO, explains: “We believe that the nascent token economy will eventually replace conventional fiat currency as the dominant form of payment. The Wirex Token helps us integrate with the payment environment of the future and offer users a convenient, fast and cost-efficient way to move digital money across borders.”

The Wirex Token Initial Exchange Offering (IEO) takes place on the 26th of June 2019 through OKEx’s OK Jumpstart programme. 1% of the total supply of WXT will be available for public purchase on a first-come-first-serve basis at an initial price of $0.01 per token. To ensure that Wirex users don’t miss out on the token due to high demand, an exclusive pre-IEO sale will take place on the Wirex platform for verified users on the 13th of June. Only $2m worth of WXT will be released for the pre-sale at a fixed price, giving users the best possible value.

The Wirex Token represents more than an investment opportunity. Owning WXT unlocks a plethora of benefits for Wirex users, based on the number of tokens held:

Wirex Discounts: Users can enjoy exclusive discounts (up to 100%) on a range of fees and charges, including exchange fees, bank transfer fees, withdrawal fees, credit/debit card top-ups, monthly management fees, ATM charges and Swift transfer fees.

Enhanced Cryptoback™: Wirex users currently earn 0.5% in crypto on in-store spending with the Cryptoback™ rewards programme. The release of WXT allows cardholders to super-charge these rewards and earn up to 1.5% on all in-store purchases made with the Wirex Visa card.

Premium Access – coming soon: WXT holders stand to enjoy a range of premium features in late 2019, including the premium Wirex Visa card, bespoke merchant offers, concierge services, airport lounge entry and early access to the latest Wirex innovations.

Funds raised through the IEO will enable Wirex to accelerate its growth whilst bringing the company closer to its ultimate goal: to democratise access to fast, low-cost international remittance and empower retail and corporate customers to use their cryptocurrency in day-to-day life.

Wirex is a pioneer in the space; they conceived the world’s first crypto debit card, the first bitcoin reward programme and are the first platform to release 26 fiat-backed stablecoins in partnership with Stellar.