The Wirex ecosystem has been developed to create optimal use cases for both the fiat and digital-first financial environments. We believe that the future of money will be driven by three factors: increasing equilibrium between fiat and digital systems (e.g., seamless transactions between the two), the scaling effect of mainstream participation in DeFi and mainstream financial institutions adopting the innovative products and services that arise from the maturation of Web 3.0 and the metaverse.
What does this mean in reality? It means that Wirex will focus on building products that simultaneously integrate both DeFi and traditional banking & payments - an emphasis on mutually interoperable solutions. Where regulations or barriers necessitate it, or where innovation-to-market will be faster, Wirex may provide some services which are dedicated explicitly to DeFi or traditional financial products. Examples could include running parallel retail/custodial wallets (regulated, fit for a fiat currency economy) and non-custodial wallets (nascent, Web 3.0 ready, optimised for future protocols and services as they develop on the blockchain).