Victoria D ‘E is
Publication: May 27, 2025 3:02 pm update: May 27, 2025 3:02 pm
Edit and fact confirmation: May 27, 2025 3:02 PM
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Georgy Sokolov discusses the transition to untreated custody, which is driven by trust issues and geographical scale. Wirex offers a single business account that combines traditional banking features with self -Istriety encryption access.
Georgy emphasizes two large trends that lead the transition to unspoken non -positive products.
“People are moving more chains, especially after the centralized player fails and the user loses money. Trust is a big factor. Also, it is easier to expand geographically because the decentralized products are less regulated.”
He acknowledges that it is more difficult to generate profits to users when he does not have funds, but it is simpler to expand worldwide.
Initially, it was almost impossible to get a bank account for cryptocurrency companies. It’s easy now, but it’s still not perfect. Many banks will not talk with the encryption company.
Wirex provides a better alternative. This is a single business account that combines traditional bank functions (European Ibans and accounts with ACH) with its own Issue encryption access.
“We had a successful pilot with a Wirex business account with hundreds of companies in 2019-2020. We paused for a while to concentrate elsewhere, but now we have come back.”
The new version is entirely non -custody. Users do not need to deposit money with Wirex. The funds remain in their own wallets, but they can be fully used through the Wirex card and ibans.
Wirex also built a distributed app for the sleeve for users who prioritize their own inspection over privileges such as cashbacks.
“The main focus of this product is B2B. We grant partners such as Web3 Wallet, Dex, Games or Loan Protocols to provide Web3 cards without processing KYC or regulations.
He describes how to handle transactions in a single atomic stage.
In the user feedback, Georgy shares interesting insights.
“People want a metal card to show off and Apple/Google pays for convenience.”
In addition to Flassy Cards, Wirex Private provides “Crypto Private Banking”. People with real encryption assets can be used as traditional wealth even where banks do not participate in encryption.
“We understand how to deal with encryption as a source of funds. Unlike traditional banks, we can accept miners and people who have paid clean encryptions. We offer dedicated account managers, higher limits, OTC fees.”
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About the author
Victoria is a writer about various technical topics, including Web3.0, AI and Cryptocurrencies. Through her extensive experience, she can write insightful articles for more audience.
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Victoria D ‘E is
Victoria is a writer about various technical topics, including Web3.0, AI and Cryptocurrencies. Through her extensive experience, she can write insightful articles for more audience.