Wirex, the crypto payment service provider, introduces W-Pay, a noncustodial crypto debit card service using zero-knowledge proof technology on Polygon’s Chain Development Kit (CDK) for enhanced scalability and security.
In a significant move, Wirex, a crypto payment service provider with over six million customers, has unveiled W-Pay, a noncustodial crypto debit card service based on zero-knowledge proofs (ZK-proofs). This decentralized solution harnesses the power of zero-knowledge technology and is built upon Polygon’s Chain Development Kit (CDK), promising heightened scalability and security.
ZK-proof-based scalability solutions have gained prominence in the crypto landscape, as they allow parties to prove claims without revealing sensitive details. Ethereum and Polygon have been at the forefront of ZK-proof development.
W-Pay introduces innovative features, enabling noncustodial wallets and decentralized applications (DApps) to issue crypto debit cards. This approach eliminates third-party risks and grants account owners full control over their funds. Key features include swift and secure transactions via ZK technology, Ethereum Virtual Machine (EVM) compatibility, and account abstraction, simplifying transaction processes.