Wirex Welcomes Five New Stablecoins

Region: Europe
Dec 17, 2021, 11:00:00 AM Published By Wirex Team

2021 has been the year of new tokens for Wirex, and we’ve still got more to come! Today, we’re excited to announce the launch of five new stablecoins on the platform, including the world’s first Travel Rule compliant stablecoin.

What are stablecoins?

Stablecoins are cryptocurrencies that are pegged to an external asset, such as another currency (like USD) or a commodity (like gold). Being pegged to another asset class helps reduce volatility while still offering the many benefits of traditional cryptocurrencies such as faster speeds, increased security and lower transaction costs.

Which stablecoins are coming to Wirex?

DAI has been available on Wirex since 2019 and now six more will be integrated alongside it!

  • Stasis Euro (EURS)
  • Tether (USDT)
  • True (TUSD)
  • USD Coin (USDC)
  • USDP

Want to know a bit more about these coins? Stay tuned, as we’ll be having token spotlights coming up in the blogs over the next few weeks!

Introducing the Coins 

In case you’re not sure which stablecoin to choose, here’s a quick lowdown of our new arrivals:  

Tether (USDT) – USDT is a well-established player in the stablecoin space. It was designed to be backed by the USD Dollar to maintain a stable value and reduce volatility. It is also the 5th largest cryptocurrency by market cap.  

USD Coin (USDC) – USDC is pegged 1:1 to the US Dollar and is backed by cash and short-duration US treasuries. As of October 2021, there are currently 32.5 billion USDC tokens in circulation.  

TrueUSD (TUSD) – Fully backed by the US Dollar, TUSD markets itself as “the world’s most transparent stablecoin” and is popular among traders for its transparency and accessibility.  

Pax Dollar (USDP) – USDP is a fiat-collateralised stablecoin that aims to stabilise the US Dollar with blockchain technology. It is regulated by the New York State Department of Financial Services.  

Stasis Euro (EURS) – EURS is an ERC/EIP20 token that mirrors the value of the Euro, and is the first stablecoin to introduce delegated payments on the Ethereum blockchain. 

To celebrate the launch, for today only, we’re offering a promotion on all stablecoins on the Wirex platform. In case you missed this week’s Christmas Promotion Roundup, customers that purchase 50 EUR/USD of any stablecoin will receive 5 EUR/USD back in WXT*.

Please find APAC T&Cs here.

Please find EEA T&Cs here.