{"id":60905,"date":"2023-10-05T10:16:50","date_gmt":"2023-10-05T14:16:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=60905"},"modified":"2023-10-05T10:17:16","modified_gmt":"2023-10-05T14:17:16","slug":"wirex-creates-non-custodial-crypto-debit-card-using-zk-proofs","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/wirex-creates-non-custodial-crypto-debit-card-using-zk-proofs\/","title":{"rendered":"Wirex Creates Non-custodial Crypto Debit Card Using ZK-Proofs"},"content":{"rendered":"\n

Wirex introduced its crypto debit card<\/a> for the first time in 2015 and currently claims over six million customers.<\/p>\n\n\n\n

\"Wirex<\/figure>\n\n\n\n

Wirex, a provider of crypto payment services, has announced the launch of W-Pay\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, a zero-knowledge proofs-based non-custodial crypto debit card service.<\/p>\n\n\n\n

Wirex's new decentralized solution employs Zero-Knowledge technology based on Polygon's Chain <\/a>Development Kit (CDK), which promises enhanced scalability and security.<\/p>\n\n\n\n

Polygon CDK was designed with ZK proofs in mind, allowing businesses and consumers to create their own ZK-powered Layer 2 rail.<\/p>\n\n\n\n

ZK-proofs-based scalability solution has become quite popular in the crypto space as the zero-knowledge protocol allows one party to convince another party that something is true without disclosing anything other than the fact that the claim in question is true.<\/p>\n\n\n\n

Ethereum and Polygon have seen the most development over time regarding ZK-proofs.<\/p>\n\n\n\n

W-Pay enables non-custodial crypto debit cards issued by non-custodial wallets and decentralized applications (dApps).<\/p>\n\n\n\n

The company asserted that the decentralized approach would eradicate any risks associated with third parties and guarantee that account holders retain sole control over their funds.<\/p>\n\n\n\n

The integration of Zero-Knowledge technology, compatibility with the Ethereum virtual machine (EVM), and Account Abstraction (AA), a feature that facilitates transaction processes by removing inherent complexities, are some of the key features of W-Pay.<\/p>\n\n\n\n

The decentralized solution based on ZK proofs enables card transactions up to a predetermined limit and supports integrating decentralized applications (dApps) and non-custodial wallets with conventional payment channels.<\/p>\n\n\n\n

According to the company, W-Pay will inaugurate a new era of on-chain card payment services.<\/p>\n\n\n\n

Wirex introduced the first payment card with crypto functionality 2015, enabling users to use digital and fiat currency interchangeably in daily transactions.<\/p>\n\n\n\n

Wirex claims to have over six million customers and is a major member of Visa <\/a>and Mastercard.<\/p>\n\n\n\n

Wirex's recent decentralized solution <\/a>based on zk-proofs arrives amid difficulties with its card partner UAB PayNet.<\/p>\n\n\n\n

In June, the central bank of Lithuania revoked UAB PayrNet's license, compelling the company to cease operations in the European Economic Area (EEA).<\/p>\n","protected":false},"excerpt":{"rendered":"

Wirex introduced its crypto debit card for the first time in 2015 and currently claims over six million customers. Wirex, a provider of crypto payment services, has announced the launch of W-Pay , a zero-knowledge proofs-based non-custodial crypto debit card service. Wirex’s new decentralized solution employs Zero-Knowledge technology based on Polygon’s Chain Development Kit (CDK), […]<\/p>\n","protected":false},"author":56,"featured_media":60913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,26],"tags":[12094,16657,202,197,1560,395,13365,16368],"class_list":["post-60905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-cryptocurrencies","tag-adoption-2","tag-bitcoin-debit-card","tag-blockchain","tag-defi","tag-mastercard","tag-polygon","tag-wirex-2","tag-zk-rollup"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/OG_Card.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=60905"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/60913"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=60905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=60905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=60905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}