Crypto payment provider Wirex boasts a client base of over six million.
W-Pay’s incorporation of ZK technology ensures fast and safe transactions.
On October 3rd, Wirex, a provider of cryptocurrency payment services, announced the release of a non-custodial cryptocurrency debit card service called W-Pay that is based on zero-knowledge proof (ZK-proof). Wirex is an integral part of both Visa and Mastercard, and it boasts a client base of over six million.
Built on Polygon’s Chain Development Kit (CDK), Wirex’s new decentralized solution employs zero-knowledge technology to boost scalability and security. Polygon’s CDK prioritizes ZK-proofs, letting businesses and individuals create their own ZK-powered layer-2 rail.
Several Innovative Features
Since the ZK protocol enables one party to show to another party that a certain fact is true without giving specifics about the assertion itself, scaling solutions based on ZK proofs have gained popularity in the crypto field. The biggest progress has been made using ZK-proofs over time in Ethereum and similar platforms like Polygon.
Moreover, W-Pay provides a number of innovative features. That make it possible for noncustodial wallets and DApps to produce crypto debit cards. Also, the company claimed that a decentralized system would safeguard their customers’ funds from the possibility of fraud or theft by other parties.
Moreover, W-Pay’s incorporation of ZK technology ensures fast and safe transactions; it is compatible with the Ethereum Virtual Machine (EVM). And account abstraction simplifies transaction operations by removing inherent complications.
Integrating DApps and noncustodial wallets with traditional payment rails is made possible by the ZK-proof-based decentralized approach. The company claims that with W-Pay, on-chain card payment services would enter a new age.