The Wirex team has developed a tool that allows decentralized applications (dApps) to issue non-custodial cryptocurrency debit cards based on zero-knowledge proof (ZKP) technology.
Wirex, a crypto payments company, has announced the release of W-Pay, a decentralized toolkit for issuing non-custodial crypto debit cards. The app combines the functionality of dApps with traditional payment infrastructures.
W-Pay is built on Polygon Labs’ new Chain Development Kit (CDK), a new toolkit for developing Ethereum L2 solutions. The application is based on ZKP, which provides system scalability and user security.
According to Pavel Matveev, CEO and Co-Founder of Wirex, W-Pay is a revolutionary solution that makes it easy and fast to issue crypto cards, while ZKP technologies allow account holders to ensure full control over their funds. Pavel believes that Wirex’s developments will facilitate the smooth integration of decentralized apps into existing payment and banking infrastructure.
The Wirex team developed a debit card that automatically converts cryptocurrency to fiat when making purchases back in 2015. Now the FinTech company is making such an option available to all dApps teams.
CP Media previously published an in-depth article on the uses of zero-knowledge proof (ZKP) technology with specific examples.
