Wirex supports the government of Uzbekistan to adopt the blockchain

Wirex supports the government of Uzbekistan to adopt the blockchain

“We are excited to work alongside the Uzbekistan Direct Investment Fund to help the sector thrive, enrich the financial system there and set the standard for other countries, and eventually expand.”

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Wirex has signed a Memorandum of Understanding with the Uzbekistan Direct Investment Fund with the aim of supporting the Uzbek government as it implements blockchain solutions and distributed ledger technology for various government services.

Uzbekistan is trying to be at the forefront of blockchain in Central Asia, having recently established a regulatory framework for the country’s cryptocurrency ecosystem in a move aimed at attracting more individual and institutional investors.

The partnership will help Wirex provide financial investment for several projects that promote growth in the finance and blockchain sectors in the country as it provides blockchain-powered services to 35 million Uzbekistanis.

Wirex wants to set a standard for other countries and eventually expand

Atabek Nazerov, Director of the Direct Investment Fund of Uzbekistan, commented: “Being located in the heart of Central Asia, with the traditions instilled by the Great Silk Road, Uzbekistan has always played an important role in the economic and financial growth of the region. To continue this path, it is necessary that we take advantage of There are opportunities in the global financial technology space and we are using new technologies, including blockchain and distributed ledger Wirex is a global veteran and one of the leaders in financial technology, with regulatory experience in multiple markets They already have what we need to make this happen, including The global regulatory landscape and technical aspects of blockchain integration. We are pleased to have chosen to partner with Wirex.”

Svyatoslav Garal, Managing Director of Wirex APAC, said: “Over the past seven years, our company has accumulated tremendous experience in the development of blockchain technologies and created one of the best platforms in the world. In close alignment with our goals, this partnership is a milestone not only for Wirex and Uzbekistan. , but also for blockchain in general. We are excited to work alongside the Uzbekistan Direct Investment Fund in order to help the sector thrive, enrich the financial system there, set the standard for other countries and eventually expand.”

Wirex launches crypto lending in the UK and SEPA payments in Europe

In August, Wirex made crypto-backed lines of credit available to UK users, with WXT as a token to use as collateral, in an effort to expand the Wirex Credit program into new regions with additional features. Launched last month in Europe and Asia, Wirex Credit allows users to borrow crypto-backed lines of credit of up to $100,000. Now, the cryptocurrency lending service is also available in the UK.

The company has also tapped into a Modulr to add SEPA Instant and Faster Payments so that its UK and EEA customers can more easily transfer British Pounds and Euros between their Wirex and bank accounts.

Wirex already has 5 million users, a large portion of which are based in the UK and Europe. The crypto platform allows users to buy, hold, exchange and sell multiple fiat currencies and cryptocurrencies from within the Wirex app as well as spend these currencies in daily life at more than 80 million locations globally using Wirex Mastercard.

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