Ethereum Wallet Launched By Blockchain Firm Wirexbr>
Blockchain personal finance platform Wirex has added ethereum to its expanding portfolio of cryptocurrency wallet.
Wirex provides crypto wallets which are also linked to physical and virtual VISA debit cards. It serves more than 900,000 customers in over 130 countries and has an e-money license in the United Kingdom. Wirex operates in partnership with SBI Holdings in Japan as SBI Wirex Asia.
In addition to allowing users to buy, sell and store ether, the new Wirex ethereum wallet can also instantly convert ETH into GBP, EUR or USD to spend in-store and online using the Wirex Payment Card.
Wirex founder Pavel Matveev said that ethereum represents the second most valuable cryptocurrency after bitcoin – and therefore the world’s biggest altcoin – making the development of the ethereum wallet a priority for Wirex.
“We are pleased that we can now offer this popular crypto, but our product growth does not stop here,” Mateev said. “We have some interesting new services in the pipeline and our recently earned FCA e-money licence has opened the doors for even more products and locations in the near future.”
Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale that took place between July and August 2014. The system went live on July 30, 2015, with 11.9 million coins “premined” for the crowdsale. Smart contracts, ethereum’s defining feature, enable developers to build and deploy decentralized applications. They work in the same way as traditional contracts, but they self-execute – the terms of a contract are employed as each condition is met.
Dmitry Lazarichev, co-founder of Wirex, said that ethereum stands out from other cryptocurrencies because while it is a digital currency, it has an entirely different protocol to bitcoin.
“Besides using ether to transfer money, it allows you to execute smart contracts,” said Lazarichev. “These smart contracts will have the effect of eventually eliminating the middle man from contracts, resulting in savings for the consumer.”
To celebrate the launch of the ethereum wallet, Wirex will be donating 20 ETH to a charity chosen by the crypto community. Crypto fans can nominate a charity of their choice by September 11. The winning charity will be announced on September 14.