Wirex R&D Europe

Large corporations continue investing extensively in the fintech market as consumers' trust in traditional financial services decreases.

How will fintech change the world in the future? We suggest several predictions in our publication for Vector ⬇️

1️⃣ Transformation and change will become a priority for companies willing to stay afloat in five years and beyond. Automated systems that execute trading algorithms are already in place, changing the role of humans.

2️⃣ Many fintech companies will reassess their business model and would evolve as data procession and data supply businesses providing payment and other financial services. This evolution is necessary to stand out in the eyes of investors and win the market.

3️⃣ Fintech companies focusing on ESG will grow since environmental challenges have pushed everyone to reconsider values and attitudes towards production and resource usage.

4️⃣Innovations in the fintech industry will be driven by cryptocurrency and blockchain technologies. Solutions utilized for financial exchanges before are now applied in fintech.

5️⃣ Fluctuations of cryptocurrencies cannot be avoided. But the leading cryptos will 'live' a long time, gradually entering everyday circulation of money and assets, just like the hryvnia or the dollar - and our ambition at Wirex is to make this transition smooth and convenient.

6️⃣ Blockchain accelerates progress towards a transparent financial ecosystem, while traditional banking is where many risks lie. A typical example is a unilateral change of a contract with a client. Web3 eliminates or at least decreases this and other risks, building trust.

Fintech is a state-of-the-art industry that uses the latest data procession and regulation technologies. We are sure that fintech is a vital part and a steady element of the rapidly reshaping future of finance.

The difference between ordinary and extraordinary is that little 'extra,' right?

Our passion for solving challenges is that little 'extra' that sets all of us at Wirex R&D apart and makes our projects thrive in such a broad market. So how exactly do our ways of working differ from those of other companies?

◾️Microservice architecture
This approach allows developers to be independent and quickly scale the product, preventing problems with the load. Each team creates its part, say a piece of the complete product - the Wirex App or the Wirex Wallet.

▫️The new technologies
Blockchain, for example, develops in real time, and the necessary solution may not even exist, preventing us from implementing a brand-new feature. Thus, we are curious to create such solutions ourselves.

◾️The pace
We tend to deploy over 60 releases in just a month. Our teams set this dynamic pace to reach the best possible results without spending years. We have a lot more to achieve, don't we?

Wirex token turns 3 years old.

WXT is still very young but very, very ambitious. And it already has its own success history:

- June 2019: WXT pre-sale ended in just 15 minutes;

- July 2019: the world saw the token through Initial Exchange Offering (IEO);

- March 2021: the launch of X-tras, a reward programme with payments in WXT;

- June 2021: 20% of tokens migrated to Ethereum blockchain, opening DeFi for Wirex clients;

- February 2022: WXT started to be supported in Avalanche blockchain.

And this is just the beginning! We don't stop there and strive for the better.