Wirex invests 7 7.5 million in blockchain development, which will be handled by R&D centers in Ukraine and Poland

British fintech company Wirex, whose product combines traditional money and cryptocurrencies in one application, is investing 7 7.5 million in blockchain development, which will be handled by R&D centers in Ukraine and Poland. This was reported to DOU in the company.

Wirex is known to be a strategic investor in Nereus, a DeFi lending product created in partnership with the crypto community and centralized finance professionals (CeFi). The Nereus approach involves an emphasis on both democratic governance and cross-chain compatibility. It allows you to make loans secured by cryptocurrencies and earn money on deposits to lenders.

Now an ecosystem is being created for Nereus in the context of the company's products: the decentralized crypto wallet Wirex Wallet and the fintech application Wirex App. Nereus plans, in particular, to create an algorithmic stablecoin.

Also, based on the Nereus protocols, the company plans to develop trading on decentralized exchanges (DEX) with additional liquidity leverage, which allows investors to buy more digital assets.

The fintech company expects that in the final stage Nereus will become one of the main protocols for working with virtual assets for both ordinary users and professional traders who value decentralization.

"Building an ecosystem around the Nereus protocol is a challenge. You can compare this to a bicycle that you could ride before, but in the process of improvements, experts turned it into a hypercar," said Ruslan Kolodyazhny, CTO of Wirex and head of Wirex R&D.

Thus, for the development of the blockchain direction, the company is looking for engineers with expertise in programming languages such as Solidity and Rust.

"In addition to rapid career growth and the ability to influence the fintech product used by more than 4.5 million people worldwide, new team members will also receive attractive rewards and annual bonuses in the wxt cryptocurrency traded on trust exchanges," the company stressed.

They also added that as of today, the capitalization of WXT reaches almost 6 65 million (tokens with a capitalization of more than.10 million are classified as Large-cap cryptocurrencies).

Currently, 400 specialists work on the company's products globally, and Wirex plans to expand its team to 600 specialists by the end of 2022. In total, more than 60 vacant positions have been opened in its offices to date.

Wirex currently has offices in London (UK), Atlanta (USA), Toronto (Canada), Singapore, Tokyo (Japan), and R&D centers are located in Ukraine and Poland.

Earlier it was reported that Wirex since February 25, 2022, due to the military invasion of the Russian Federation in Ukraine, blocked Russians from accessing its Wirex App product. Thus, she supported active actions to exclude Russia from the global financial services market.

Recall that in early 2022, Wirex received W 15 million in investment from a strategic investor.