The diagram illustrates the synergistic relationship between Wirex and Wirex Pay, highlighting their integrated yet distinct functionalities. Wirex focuses on traditional financial services, providing card issuing, card processing, KYC (Know Your Customer), KYT (Know Your Transaction), TM (Transaction Monitoring), and Visa/MasterCard settlement services. These foundational elements enable the Wirex Pay product to function seamlessly.
On the other hand, Wirex Pay, governed by the Wirex Pay DAO, leverages blockchain technology with features like ZK Validium, smart contracts/AA (Account Abstraction), on-chain settlement, processing, tokenization, and lending. The bridge and UI components ensure smooth interoperability between traditional financial systems and decentralized applications. This integration allows Wirex Pay to offer a comprehensive, innovative payment solution, combining the stability of established financial processes with the flexibility and security of blockchain technology.
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