June 1, 2022 - Interest in stablecoins has grown over recent years and NXUSD will become the 3rd stablecoin to be listed on the Wirex platform, giving users the ability to buy, hold, exchange and pay with the token in-app.
NXUSD is an ERC-20 standard token on the Avalanche blockchain. It is fully collateralized and uses the tokens WBTC, WETH, AVAX, DAI as collateral to mint NXUSD and maintain its price.
NXUSD can be spent at over 80 million locations worldwide on Wirex's crypto-enabled debit card, as well as held in Wirex's DeFi savings product, X-Accounts.
Wirex's interconnected ecosystem will allow users to move tokens such as NXUSD between their app, non-custodial wallet and Nereus protocol. Pavel Matveev, CEO and Co-Founder of Wirex, explained: "Listing over-collateralized NXUSD across the Wirex platform will provide more choice and flexibility to utilise crypto."
NXUSD is launching on the Wirex app alongside 8 other tokens on new blockchains, including FTM on Fantom, TRX on Tron and BNB on the BSC blockchain. The company plan to list many other tokens and blockchains in the coming months.
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