Wirex Launches Crypto Platform in Vietnam

Payments app Wirex has launched its platform in Vietnam and expanded its decentralized finance (DeFi) offering to 81 more countries.

  • Expansion into Vietnam will allow customers there to buy, sell and hold the more than 30 cryptocurrencies that are available on Wirex’s platform, the London-based fintech said Thursday.
  • Although the State Bank of Vietnam has said crypto is not legally recognized in the country, adoption has been healthy. Blockchain analytics firm Chainalysis ranked Vietnam in the top five countries in its “2021 Global Crypto Adoption Index,” based on on-chain value received, on-chain retail value received (value under $10,000) and peer-to-peer exchange trading volume.
  • The company expanded its X Account, which provides access to DeFi savings, to another 81 countries, including India, Russia and Ukraine. X Accounts offer up to 10% interest on crypto funds and as much as 16% on fiat funds, in partnership with custody firm Fireblocks.

Read more: Payments Firm Wirex Pauses New Customer Onboarding on FCA Orders

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