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Wirex Lists DeFi Coins AAVE, LINK, MKR, UNI and YFI

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  • Wirex recently listed 5 new crypto assets from leading DeFi players
  • They plan on listing even more tokens by the end of the year
  • These coins will build upon the 9 currently available cryptocurrencies and 9 traditional currencies

Cryptocurrencies are digital or virtual currencies that are secured through cryptography, and as such it makes it nearly impossible for them to get counterfeited or double-spent. Many of them are decentralized networks based on blockchain technology. 

Wirex is a digital payment platform that supports cryptocurrencies. In fact, it combines the digital cryptocurrency accounts and P2P transfers world with the traditional banking and cloud infrastructure. 

As of recently, this digital payment platform has listed 5 new crypto assets from some of the leading DeFi players on the platform.

AAVE

Aave is essentially an algorithmic money market, which means that the loans are obtained from a pool instead of them being individually matched to a lender. Aave allows users to take out loans in a different cryptocurrency than the one they actually deposited.  It has seen over $7 billion in total deposits as of April of 2021.

LINK

Chainlink or LINK is a decentralized blockchain platform that essentially enables smart contracts to realize their full potential. It is a tool used for the process of merging blockchain technology with real-world applications through the use of open-source technology known as oracles with the intention of connecting smart contracts and external data sources so they can get accurate as well as reliable data outside of the blockchain.

MKR

MKR is a token that’s on the Ethereum blockchain which has governance rights over the Maker smart contracts. MKR is created and sold onto the open market with the intention of raising additional collateral. This means that Wirex will essentially provide an opportunity for many users to get MKR and gain governance rights over the Maker Protocol. 

UNI

Uniswap is one of the largest decentralized cryptocurrency exchanges in the world and intends to help users buy as well as sell crypto assets just as they would on any traditional exchange. This is done by allowing anyone to deposit crypto assets through the usage of smart contracts. The native token here is Uni and it enables holders of it to vote on proposals that can, over time, improve the Uniswap development as well as ecosystem. 

YFI

Yearn Finance is a decentralized asset management platform. It is well known due to the fact that it gives its users a suite of products that range from yield generation, lending, insurance on Ethereum, and liquidity aggregation. It is governed as a Decentralized Autonomous Organization by the YFI token holders.

The listing of these ERC-20 tokens marks a point in showcasing the vision Wirex has when it comes to democratizing access to the benefits of cryptocurrencies as a whole. These coins will build upon the 9 currently available cryptocurrencies as well as the 9 available traditional currencies that are on offer by Wirex. This essentially bridges the gap between the digital as well as traditional economies. The beauty behind Wirex is the fact that, well, it provides users with a way through which they can seamlessly buy, hold, exchange, and spend these currencies through the usage of the contactless Wirex card which is accepted at 61 million locations on a global scale. 

The addition of the best DeFi technology has to offer, such as new wallets, will bring a new important step when it comes to the decentralization of the financial system.

Here’s what Pavel Matveev, the CEO and Co-Founder of Wirex had to say about these listings:

“We’re very excited to now offer AAVE, LINK, MKR, UNI and YFI for purchase and to build more bridges between DeFi and traditional financial infrastructure. Listing these tokens on our platform will give Wirex users more choice and freedom to spend crypto in the everyday, and the unique and enduring nature of these DeFi projects will help to raise mainstream awareness of blockchain and to open up the financial system.”

This being the case, the launch of AAVE, LINK, MKR, UNI, and YFI are just the first of a series of listing throughout the entirety of the year, and Wirex has plans to release many other DeFi cryptocurrencies on the platform by the rest of the year, and hopefully beyond that point as well.

Milko has a passion for the crypto-industry with a successful track record of researching and informing readers about cryptocurrency, Non-fungible tokens, and blockchain. He covers the fields of crypto-asset regulations, wallet and exchange, liquidity, altcoins, dApp, fork, mining, laddering, security and enterprise blockchain technology.

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