Wirex, a bitcoin and crypto wallet and payment ecosystem, has announced integration and support of Stellar lumens (XLM) on the platform. This brings the company’s crypto token support to nine overall.
The release of a Wirex XLM account is just the first phase of a new partnership between Wirex and the Stellar network. The team is reporting that they plan to build 26 traditional currency-backed Wirex stablecoins on the Stellar network.
Currently, most stablecoins on the market are USD-backed tokens, and Wirex believes that by “providing stablecoins in an array of local currencies allows for swift, international remittance without the need for local liquidity providers – making converting back into local currency quick and cheap.”