Wirex has launched Wirex One, a stablecoin-based neobank, following a closed beta period that involved over 20,000 users since June. The platform is built on the Arc blockchain, which serves as a settlement layer for Wirex infrastructure partners.
The service targets mass affluent consumers who are underserved by traditional private banking. Wirex One offers features such as stablecoin-funded cards with up to 8% cashback in USD, multi-currency accounts, and access to yield products.
The platform integrates Privy’s non-custodial wallet technology to provide asset ownership and security. Users can manage spending, borrowing, and investments, with plans to add tokenized equities and perpetuals in the coming weeks.
Wirex reports that its stablecoin infrastructure has reached an annualized card spend volume of $2 billion. The company, founded in 2014, has processed over $20 billion in transactions across 130 countries.
