Crypto payments provider Wirex is set to harness the power of Polygon’s Chain Development Kit (CDK) to create its cutting-edge payments-focused App Chain, aptly named W-Pay, according to the press release.
This strategic decision catapults Wirex to the forefront of the crypto payment revolution, capitalizing on the technological advancements of the Polygon blockchain protocol.
The CDK facilitates the creation of payments-focused L2 chains, offering a seamless transition for Wirex’s existing payment infrastructure onto the blockchain.
A standout feature of chains developed with the network CDK is their interoperability, enabling automatic access to the unified liquidity of all the network chains. Moreover, they grant users one-click access to the extensive liquidity pool of Ethereum. Additionally, using ZK proofs enhances security and guarantees near-instant finality, a critical aspect in today’s fast-paced financial world.
Pavel Matveev, CEO of Wirex, expressed his enthusiasm, stating:
Polygon CDK allows Wirex to transition our existing payment infrastructure on-chain. This move not only streamlines our operations but also makes the traditional banking infrastructure composable, priming it for integration into various decentralised applications.
As a licensed and regulated entity and principal member of both Visa and Mastercard, Wirex is uniquely positioned to pioneer advanced and innovative products within the payment sector.
Their initial use case involves introducing a non-custodial Visa card integrated with Account Abstraction (AA), facilitating seamless real-world transactions with digital assets for Dapp users.
Jordi Baylina, Co-Founder of Polygon, also commented:
It is exciting to see Wirex choose Polygon Chain Development Kit (CDK) to build their own L2 payment chain. Wirex’s payment chain has the potential to innovate and provide new use cases in the payment industry that can help drive more widespread adoption of Web3 technology.
Alchemy Pay Joins Polygon’s zkEVM Chain
Meanwhile, Alchemy Pay is making waves by deploying its payment services on Polygon’s innovative zkEVM chain, becoming one of the initial fiat-crypto on-ramp providers to support this ecosystem. This development allows users worldwide to purchase cryptocurrencies conveniently using their preferred local fiat payment methods.
Developers building on the new zero-knowledge-proof network can benefit from Alchemy Pay’s user-friendly direct-to-customer plugin, simplifying integration and deployment for dApps and platforms at minimal cost and effort.
Jack Melnick, Head of DeFi BD at Polygon Labs, hailed Alchemy Pay’s role in improving the usability of the Polygon zkEVM blockchain, emphasizing its significance as a gateway to the crypto space for users. The Polygon zkEVM ecosystem eagerly awaits this deployment.