Wirex lists NXUSD stablecoin on platform

NXUSD is an ERC-20 standard token on the Avalanche blockchain. Following recent market changes, Nereus has ensured that NXUSD is fully collateralized, which uses the tokens WBTC, WETH, AVAX, DAI as collateral to mint NXUSD and maintain its price.

The token has 0% interest rate and maximum capital efficiency at 90% LTV in Nereus. NXUSD can also be spent at 80 million locations worldwide on Wirex’s crypto-enabled debit card, as well as held in Wirex’s DeFi savings product, X-Accounts. This will allow customers to earn up to 20% AER interest on NXUSD, with no minimum holdings or monthly fees. 

Having partnered with Nereus at the end of 2021, Wirex invested 5 billion of their native tokens, WXT, worth USD 55 million, into the protocol to be used as the rewards mechanism. Wirex’s interconnected ecosystem will allow users to move tokens such as NXUSD between their app, non-custodial wallet and Nereus protocol.
the paypers logo

The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.

 

The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.

 



No part of this site can be reproduced without explicit permission of The Paypers (v2.7).

Privacy Policy / Cookie Statement

Copyright