Now live in the Wirex app: LUSD!

Region: Europe
Jan 24, 2024, 12:29:04 PM Published By Wirex Team

Our selection of cryptocurrencies continues to expand. Are you prepared for some additional tokens?

The Wirex app now supports LUSD, allowing users to effortlessly engage in buying, selling, and using Liquity tokens for everyday transactions with 50 million merchants in 200 countries.

Who are Liquity?

Liquity stands as a decentralised borrowing protocol, enabling users to obtain interest-free loans by leveraging Ether as collateral. These loans are issued in LUSD, a stablecoin pegged to the USD that is only backed by Ethereum, and require a minimum collateral ratio of just 110%.

In addition to the collateral, the loans are secured by a Stability Pool containing LUSD and by fellow borrowers collectively acting as guarantors of last resort.

Liquity as a protocol is non-custodial, immutable and governance-free. Learn more about the protocol here.

What are the benefits of Liquity?

Liquity offers the best borrowing conditions on the market with the main benefits being:

  • 0% interest rate
  • A collateral ratio of just 110%
  • Governance free - all operations are algorithmic and fully automated
  • Directly redeemable - LUSD can be redeemed at face value for the underlying collateral, always and at any time
  • Censorship resistant - the protocol is controlled by nobody

What’s in it for crypto users?

The integration between Liquity and Wirex allows people who hold LUSD to easily use their tokens for everyday transactions. And thanks to a suite of Wirex's brilliant features like Cryptoback™ this goes beyond just helping with buying and selling.