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Web3 money app Wirex announced the early access launch of Wirex Pay, a modular chain specifically designed for payments. This announcement comes amid declining trust in centralized platforms and a shift toward self-custody wallets.
On Oct. 9, the Wirex Pay app was made <a data-ct-non-breakable="null" href="https://www.prnewswire.com/news-releases/wirex-pay-announces-early-access-to-its-revolutionary-crypto-payment-app-302271345.html" rel="null" target="null" text="null" title="null">available</a> for download to selected users, allowing them to make everyday payments through cryptocurrencies via their non-custodial wallets.
<figure>
 <img alt="Debit Cards, George Lambert, WireX, Self Custody" src="https://s3.cointelegraph.com/uploads/2024-10/019270ef-b64f-710b-8f42-073ba5c1f4cf" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/wirexpaychain/status/1843320635508036059" rel="null" target="null" text="null" title="https://x.com/wirexpaychain/status/1843320635508036059">Wirex Pay</a>
 </figcaption>
</figure>
In a recent <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/the-future-of-crypto-payments-with-self-custody-x-spaces-recap-with-wirex" rel="null" target="null" text="null" title="null">conversation with Cointelegraph</a>, Pavel Matveev, co-founder of Wirex Pay, highlighted the lack of trust among investors following events like <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ftx-collapse-the-crypto-industry-s-lehman-brothers-moment" rel="null" target="null" text="null" title="null">the collapse of FTX</a> and Celsius. Wirex Pay aims to address this trend by giving users complete control over their funds through private keys, multisignature methods and other security features.
<h2 id="imposing-a-hard-limit-on-non-custodial-crypto-spends">Imposing a hard limit on non-custodial crypto spends</h2>
Matveev said that users essentially give Wirex Pay temporary permission “to debit their account up to a certain limit.” Speaking about the Wirex Pay application launch, he said:
“We’ve removed the barriers between crypto and everyday transactions, giving users the power to spend their assets freely and securely.”
Eligible users must <a data-ct-non-breakable="null" href="https://www.wirexpaychain.com/post/getting-your-first-wirex-pay-card" rel="null" target="null" text="null" title="null">follow</a> a 10-step process that includes ordering a non-custodial plastic or virtual card, Know Your Customer (KYC) verification, connecting a crypto wallet and depositing funds into the account.
<figure>
 <img alt="Debit Cards, George Lambert, WireX, Self Custody" src="https://s3.cointelegraph.com/uploads/2024-10/019270f0-615a-7bb4-9b66-70429c80b8bf" title="">
 <figcaption style="text-align: center;">
 Wirex Pay user interface. Source: Wirex Pay
 </figcaption>
</figure>
Wirex Pay supports Tether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>), USD Coin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/usdc-price-index" rel="null" target="null" text="null" title="null">USDC</a>) and Dai (<a data-ct-non-breakable="null" href="https://cointelegraph.com/dai-price-index" rel="null" target="null" text="null" title="null">DAI</a>) for top-ups and payments. The service is available in 54 countries, excluding the United States.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/are-noncustodial-crypto-wallets-a-practical-option-for-the-everyday-hodler" rel="null" target="null" text="null" title="null">Arenon-custodiall crypto wallets a practical option for the everyday hodler?</a>
<h2 id="growing-institutional-support-for-non-custodial-crypto-payments">Growing institutional support for non-custodial crypto payments</h2>
Wirex Pay also allows users to bridge holdings from the Ethereum blockchain in exchange for gas fees. Check out Cointelegraph’s guide to learn more about <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/the-history-and-evolution-of-cryptocurrency-wallets" rel="null" target="null" text="null" title="null">the history and evolution of cryptocurrency wallets</a>.
Major payment card service <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mastercard-non-custodial-crypto-spending-card" rel="null" target="null" text="null" title="null">Mastercard recently extended support for non-custodial cryptocurrency wallets</a> in a collaboration with the European crypto payments infrastructure provider Mercuryo.
The Mastercard-Mercuryo partnership enables users to spend crypto stored via self-custody.
“At Mastercard, we are working closely with partners to innovate and enhance the self-custody wallet experience,” Christian Rau, senior vice president of Mastercard’s crypto and fintech enablement, told Cointelegraph.
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/anti-aging-multi-millionaire-bryan-johnson-almost-devoted-life-crypto/" rel="null" target="null" text="null" title="null">Anti-aging tycoon Bryan Johnson almost devoted his life to crypto</a>

Wirex Pay launches non-custodial crypto payments

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