Wirex Expands Stablecoin Payment App to the US Market with Bridge.XYZ

Wirex, a prominent stablecoin payment application, has officially made its debut in the US market, empowering American users to conduct daily transactions using stablecoins via Visa cards.

The company's expansion comes as various Web3 platforms set their sights on the US, prompted by a push from lawmakers for clearer regulations on stablecoins.

Making Everyday Purchases Easy with Stablecoins at 80 Million Merchants

Through a strategic partnership with Bridge, a leading provider of stablecoin payment infrastructure, Wirex is enhancing its services. This collaboration allows Wirex Pay users to transact seamlessly directly from non-custodial wallets, employing both cards and bank transfers while retaining full control over their assets.

“Although clear regulations can foster innovation, our entrance into the US market is primarily driven by increasing consumer interest in stablecoin transactions and the broader acceptance of digital assets for daily expenditures,” noted Wirex co-founders Pavel Matveev and Dmitry Lazarichev.

Earlier in 2024, Stripe, a significant player in US payment processing, made headlines by acquiring Bridge for a notable $1.1 billion. With Wirex's expansion, American consumers can now transact with stablecoins at over 80 million merchants worldwide that accept Visa payments.

The co-founders of Wirex Pay have identified the US as a crucial market due to its large community of active cryptocurrency users and anticipate a surge in adoption by 2025 as stablecoins become more mainstream. This move is expected to result in increased transaction volumes and significantly enhance revenue.

“While it may be premature to provide precise forecasts, we believe that the launch of Wirex Pay in the US will play a vital role in our company’s growth in the upcoming years,” the co-founders expressed.

Regulatory Changes Impacting the US Stablecoin Landscape

US legislators are honing in on stablecoin regulations, which could catalyze market growth.

In February, CFTC Commissioner Caroline Pham announced a CEO Forum aimed at developing regulations for cryptocurrencies, emphasizing the importance of stablecoins. Major industry players, such as Circle, Coinbase, and Ripple, are actively engaged in shaping these policies.

Simultaneously, Bank of America is closely monitoring regulatory advancements, with CEO Brian Moynihan hinting that the bank could consider launching its own stablecoin if the regulatory environment is favorable.

Recently, the stablecoin market reached a record-breaking $225 billion market cap. Regulatory clarity could further accelerate adoption in this dynamic space.

As regulatory developments continue to unfold, it's expected that more Web3 companies will prioritize expansion into the US market.