Wirex Launches Non-Custodial Wallet Without Seed Phrase Vulnerability
Wirex is the initial non-custodial wallet without a vulnerable seed phrase to activate the Stellar blockchain. Stellar’s XLM and USDC will be incorporated into the Wirex Wallet.
The integration brings BTC, ETH, and AVAX to the eight more blockchains already supported by the Wirex Wallet. In December 2020, the company introduced the Wirex Wallet to its more than 5 million Wirex custodial app users.
It provides users with total control over their cryptos and non-fungible tokens by utilizing multi-party computation (MPC) technology without seed phrase susceptibility to resolve security worries with conventional cryptocurrency wallets. A superior interface design enables cross-chain exchanges and unfettered access to prominent DeFi covenants.
With more than one hundred tokens offered for purchase, exchange, and sale on the network, XLM and USDC were strategically selected as the following tokens to be listed on the Wirex Wallet. USDC is a stablecoin linked 1:1 to the US dollar that boasts one of the leading market shares, whereas XLM is Stellar’s native token used to pay transaction costs on the Stellar blockchain.
Wirex and Stellar have already been working for a considerable time to democratize cryptocurrency access. Together, the two firms created incisive research papers on cryptocurrency user activity in order to better comprehend user requirements, and in October 2022, Wirex revealed the rollout of USDC on Stellar on their app at the Stellar Development Foundation’s Meridian meeting in Rome.
Pavel Matveev, co-founder, and CEO of Wirex, stated: “We are thrilled to collaborate with Stellar to build yet another world’s foremost on our network, thereby enhancing our standing as innovators. Adding this sophisticated non-EVM blockchain is a significant achievement for us, as it allows Wirex Wallet users to enjoy the advantages of more cryptocurrencies in a safe and reliable environment.”
Stellar-based XLM and USDC are now available in the Wirex Wallet.