{"id":176782,"date":"2023-10-19T00:27:07","date_gmt":"2023-10-18T18:57:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176782"},"modified":"2023-10-19T00:27:07","modified_gmt":"2023-10-18T18:57:07","slug":"wirex-launches-dual-mode-card-integrating-defi-with-tradfi-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/wirex-launches-dual-mode-card-integrating-defi-with-tradfi-crypto-news\/","title":{"rendered":"Wirex Launches Dual-Mode Card, Integrating DeFi with TradFi &#8211; Crypto News"},"content":{"rendered":"<div>\n<p>UK-based digital payment company Wirex has launched\u00a0the Wirex Dual-Mode Card, which aims to combine the reliability of traditional banking with \u201cthe revolutionary potential of decentralised Finance (DeFi). The Dual-Mode Card lets users to quickly and easily switch between Debit and Credit modes, allowing them to personalise their purchasing experience in real-time according to their needs and the current state of the market.<\/p>\n<h2 class=\"wp-block-heading\">What you get with the Wirex Dual-Mode Card<\/h2>\n<p>In Credit Mode, the Wirex Dual-Mode Card uses a Collateral Debt Position (CDP) backed by cryptocurrency holdings as collateral. This mode is designed specifically for crypto investors. It leverages\u00a0DeFi protocols for decentralised lending and borrowing, protecting users\u2019 capital gains.<\/p>\n<p>With the Debit Mode, users enjoy the benefits of a traditional debit card for purchases made in either stablecoins or fiat currencies. Wirex says that stablecoin and fiat currency users will appreciate this mode\u2019s reduced volatility and consistent value support.<\/p>\n<h2 class=\"wp-block-heading\">What are the benefits?<\/h2>\n<p>Wirex guarantees quicker, more efficient, and transparent financial processes by removing the inefficiencies and bottlenecks of TradFi\u00a0and introducing\u00a0the benefits\u00a0of DeFi. Another huge benefit in many countries is that the Credit mode makes it possible for users to borrow against their crypto assets without creating a taxable event.<\/p>\n<p>The Wirex Dual-Mode Card allows customers to avoid selling their cryptocurrency and instead use it as collateral, so they can keep any future gains. This option is integrated\u00a0with Wirex App Chain\u2019s Account Abstraction (AA) balance, which enables convenient features like direct management, the absence of risk from intermediaries, and close integration with DeFi.<\/p>\n<p>By syncing the card with the AA balance, Wirex has enabled its users to\u00a0manage their money without involving\u00a0any third parties. In addition, the DeFi features of the card are enhanced by the link to the AA balance. As a result, cardholders can benefit from the advantages of decentralised financing without giving up full control of their assets.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>UK-based digital payment company Wirex has launched\u00a0the Wirex Dual-Mode Card, which aims to combine the reliability of traditional banking with \u201cthe revolutionary potential of decentralised Finance (DeFi). The Dual-Mode Card lets users to quickly and easily switch between Debit and Credit modes, allowing them to personalise their purchasing experience in real-time according to their needs [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-176782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176782"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176782\/revisions"}],"predecessor-version":[{"id":176784,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176782\/revisions\/176784"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176783"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}