Wirex, an UK-based online bank and crypto debit card issuer, has announced the addition of a stablecoin to its supported cryptocurrencies. We are talking about Dai — the first stablecoin being added to the service, marking the start of a new era for the company.
Stablecoins are cryptocurrencies designed to minimize the effects of price volatility. Their value is pegged to a currency, or to exchange traded commodities. Dai’s value is pegged to the US dollar — 1 Dai token always equals 1 USD.
“Dai is an excellent tool to make international payments at low costs without the volatility. The token feeds into our ethos of enabling mainstream crypto adoption […]. Dai is a solid addition to our existing cryptocurrency portfolio.” — Shared Dmitry Lazarichev, one of Wirex co-founders.
Wirex already supports six cryptocurrencies — Bitcoin, Ethereum, Ripple, Litecoin, Waves and Wollo — and now its users in the European Economic Area will be able to also buy, store, sell or spend the stablecoin Dai with their Wirex Visa cards.
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