Home arrow Article arrow Article Detail

1inch Network partnership with Wirex wallet now users able to exchange token within wallet

Profile Image

Indrani bose Follow


Aug, 05 2022

Aug, 05 2022

likes 0 | comments 0

Article Image

Recently, to support wallet-based token exchange more efficiently, collaboration took place between non-custodial wallet platform Wirex and 1inch Network, which will lead to integrated 1inch’s functionality in the Wirex platform. Users of the Wirex wallet will be able to exchange tokens within the wallet through this partnership.  

The non-custodial wallet from Wirex will get the 1inch Aggregation API, which will make the crypto and Defi worlds better to interact with. It will provide its users with a better token exchange service by using the 1inch Aggregation API. Wirex users will be able to locate the best exchange rates for their swaps provided by the many decentralized exchanges in real time using the DEX aggregator API by using a search algorithm that discovers switching pathways. 1inch is the aggregator of the best exchange rates from significant exchanges. 

The collaboration will enable members of the Wirex community to trade tokens across several blockchains according to a statement made by Sergej Kunz who is co-founder of 1inch Network. Wirex will provide the most competitive exchange rates on the market for converting between cryptocurrencies in addition to enhancing the fiat-crypto conversion experience. The relationship with 1inch, according to the Wirex team, is consistent with their efforts to grow into new blockchains including Avalanche (AVAX), Polygon (MATIC), BNB Chain (BNB), and Fantom (FTM). Several blockchains, including Ethereum, Avalanche, Polygon, BNB Chain, and Fantom, support this kind of functionality.  

Due to 1inch Pathfinder, all of this is possible. It is a sophisticated algorithm that analyses liquidity pools and exchange rates for crypto pairs provided by top DEXs in order to choose the ideal "route" for the swap and complete the transaction as quickly as feasible.  

The new partnership will make it easier for beginners to enter the cryptocurrency realm, and represents a step toward broad acceptance. Newcomers can now have easier access to the many blockchain-powered sectors, such as decentralized finance, owing to this kind of functionality. Thus, new users will be able to benefit from the cutting-edge financial instruments provided by the industry that was the first to embrace this disruptive technology. 

The 1inch integration, according to Wirex co-founder Pavel Matveev, is a mechanism for their project to give consumers access to decentralized finance (DeFi).  He believes that consumers will be able to save time and money while trading their assets with the features offered in their wallets. 

The non-custodial wallet from Wirex was introduced in December to capitalize on the popularity of an app that has more than 5 million users. For increased security, the wallet makes use of keyless technologies, biometric access, and multi-party computation. 

likes 0 Likes | comments 0 Comments

Profile Image

Indrani bose

CBW - External Analyst


Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.