Celer’s CelerX Integrates With Wyre For Seamless Cross-Border Payments And Increased Crypto Adoption
Wyre, a Blockchain-powered platform credited for enabling seamless cross-border payments, is partnering with Celer Network, a prominent, Blockchain-based layer-2 scaling platform.
They are joining forces in a move that will ultimately allow traders to conveniently buy and use their crypto assets straight from Celer’s proprietary layer-2 app, CelerX.
Announcing this strategic partnership, Celer Network stated that the integration would mean that users will no longer have to rely on the usual layer-1 Blockchain addresses. The partnership will give them the freedom to use their ERC-20 token when paying for items or playing games.
Wyre’s API is wired to allow secure, instant conversion of fiat to crypto, although it isn’t as efficient as it should. One of the main problems many of them often face, however, is the need to buy ETH and meet extra charges for any on-chain trade carried out. Any small, infrequent transactions also attract massive fees, not to mention the long latency.
However, the new partnership is sure to bring a sigh of relief for a majority of them. It will expose them to a whole new experience, free from the usually undesirable user friction that comes about as a result of different platforms. With that, millions of users who often use both platforms will be confident in accessing interactive DApps without gas fees.
Celer Network’s cutting-edge layer-2 scaling technology is designed to allow low-cost, safe, and interactive DApps, similar to the often frictionless experience of ordinary apps. Their very-own CelerX, a mobile app built with the layer-2 scaling API and SDK, guarantees swift, instant and zero-gas-fee payments. The app is developed with enjoyable skill-based games and suits users from as many as 89 countries.
Wyre has tremendously grown, from a humble startup in 2013, to its current stature. The platform’s proprietary Blockchain technology ensures that all cross-border transactions aren’t just instant, but equally hassle-free.
Wyre has completely phased out the rigors and inconveniences presented by banks, ensuring that a transaction which previously took three days happens in less than six hours.
Wyre has slashed the transactional charges or international money transfers from 4-6% to less than 1%. They have also handled more than $3.5 billion in crypto so far, and a further over $1 billion in commercial FX international payments, a testament to the trust many have in them. And the platform’s co-founder and CEO, Michael Dunworth couldn’t contain his excitement.
Admitting that gaming has a huge potential when it comes to the growing adoption of crypto, he spoke about Celer’s tunnel vision and the value addition it brings to the tech-savvy populace. According to him, the fact that CelerX directly supports DAI is a straight win for DApps as it grants them an opportunity to work on their core competencies and avoid the Total Addressable Market. He spoke about eSports and the support it could get from their partnership.
Mo Dong, Celer Network’s co-founder also explained the addition CelerX would have on eSport blockchain games. According to him, “fiat on/off ramps,” which Wyre supports, is the proverbial ‘last mile’ when it comes to crypto adoption.
Dong seemingly believes that the key to getting more users into the cryptocurrency and Blockchain bandwagon lies with having a safe, easy fiat bridge. He thus sees Wyre as a worthy partner given how the strategic partnership, including their own layer-2 would allow more to hop into the train and enjoy fun, crypto games.