Wirex announces strategic integration with Liquity

PRNewswireJanuary 25, 20244 min

Wirex, a leading Web3 money app, is proud to announce the integration of¬†Liquity’s¬†LUSD and LQTY tokens, expanding its comprehensive selection of supported¬†cryptocurrencies.

Users can now seamlessly engage in buying, selling, and utilising Liquity tokens for everyday transactions with 50 million merchants in 200+ countries through the Wirex app.

Liquity, a decentralised borrowing protocol, empowers users to access interest-free loans by leveraging Ether as collateral. The loans are issued in LUSD, a decentralised stablecoin pegged to the USD that is collateralised by ETH. The protocol has achieved a significant milestone, marking 1 000 days since the deployment of its smart contracts on the Ethereum mainnet. Over these 1000 days, the protocol has issued over $4.7 billion in loans and currently has a TVL of $700M. These loans are co-secured by a Stability Pool containing LUSD and by fellow borrowers collectively acting as guarantors of last resort. Liquity as a protocol is non-custodial, non-upgradable, and governance-free.

Notably, the immutable nature of these contracts has ensured stability, coupled with an impeccable security track record since inception. LUSD stands out as a reliable and secure stablecoin, and has been rated as the safest stablecoin to hold by stablecoin ratings agency BlueChip.

“We are excited to continue expanding our¬†cryptocurrency¬†offerings and provide our users with access to innovative projects like Liquity. The integration of LQTY and LUSD in the Wirex app aligns with our commitment to empowering users and simplifying their¬†cryptocurrency¬†journey,” said¬†Pavel Matveev, CEO & Co-founder of Wirex.

Sam Lekhak, Head of Growth at Liquity, commented:¬†“Liquity is excited to integrate with Wirex to bring our decentralised borrowing protocol to a wider audience. The inclusion of LUSD and LQTY within the Wirex app enhances the utility of Liquity tokens, providing users with a seamless experience in using these assets for day-to-day transactions.”

The Wirex integration opens new possibilities for¬†crypto¬†users, allowing them to leverage their LUSD and LQTY tokens effortlessly for everyday transactions. Beyond simple buying and selling, Wirex offers a suite of features including Cryptoback‚ĄĘ to enhance the overall user experience.

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