• Visa and Wirex have partnered to launch Wirex Pay, a new ZK payment chain using Polygon CDK, to enhance crypto and fiat payment.

• Wirex Pay will enable seamless global crypto transactions through Visa’s network.

Visa and Wirex, leaders in digital payments, have partnered to launch Wirex Pay, a modular Zero Knowledge (ZK) payment chain built with Polygon CDK. According to the announcement, this partnership is intended to revolutionize the way consumers control and spend their cryptos and fiat with the help of the reliable Visa network and Wirex’s products. 

A major highlight of this partnership is the integration of innovative Visa cards, which will streamline payment experiences. Wirex Pay, with Visa’s network, will enable millions of people to pay with cryptocurrencies at various merchants across the globe, increasing convenience. This is expected to greatly enhance the innovation and possibilities for the Wirex Pay L2.

Wirex Pay Enables Global Crypto Transactions

Wirex is a UK-based digital payments platform with more than 6 million customers across 130 countries. The partnership is intended to promote the adoption of digital currencies in the UK and the European Economic Area (EEA). Leveraging Visa’s marketing efforts and capabilities, this initiative will support Wirex’s market expansion.

Additionally, the payment chain intends to facilitate the smooth and secure transaction of both cryptocurrencies and traditional currencies. Through the integration of Wirex Pay with Visa’s network, the partnership is set to provide users with a better payment experience. 

Wirex Pay detailed the partnership on social media platform X, stating,

Wirex and Visa are teaming up to drive innovation in web3 payments. This partnership is set to revolutionize the way we use digital assets!

The growth of decentralized payments in regions like Africa further highlights the relevance of such innovative solutions.

MATIC Price Attempts to Rebound

At press time, Polygon (MATIC) was trading at $0.54 after increasing by 1.2% in the last 24 hours. There has been increased investor participation this week, especially after the slated migration of MATIC to POL in September as highlighted in our previous article. This news has revived the interest in the token causing the number of active addresses to rise significantly.

On a single day, the number of active addresses was 4,400, the highest activity level in over a year. This rise indicates that investors are interested in taking advantage of Polygon’s positive events, even in the current bearish market. 

However, the price of MATIC has been constantly falling, but the investors are still trading with the expectation of future profit. The historical in/out of the money indicator shows that only 3% of investors are in profit, and they bought their assets below the present market price. 

This low profitability rate is prompting investors to interact more with the network in a bid to make profits as the token price becomes more stable. The increase in active addresses suggests that the community still has high hopes for the return of MATIC.  Additionally, the trading volume has gone up by 35% to $230 million, and the market capitalization is currently at $5.3 billion.