Wirex One Launches on Arc, Bringing Private Banking to Mass Affluent Market
Wirex One has launched publicly on Arc, bringing private banking to the mass affluent market. The platform offers a range of features including stablecoin-funded cards with up to 8% cashback in USD, access to crypto and stablecoin yield features, support for multiple currencies, and innovative membership models.
The global private banking market is projected to grow by over 10% annually to reach $1.24 trillion by 2035. Wirex One was created to serve the underserved market of affluent individuals who remain structurally underserved by traditional retail and private banking.
Pavel Matveev, Co-Founder & CEO of Wirex, stated that a new wave of fintech apps are being built on stablecoin rails and need the same foundation: regulated issuing, accounts, settlement, and yield. Wirex One is their own consumer platform built on that infrastructure, redefining what a private bank can be.
The launch marks a major milestone in Wirex's vision to build a unified, onchain suite of financial services for consumers and businesses on their stablecoin infrastructure, which recently reached $2 billion annualised card spend volume. In the coming weeks, Wirex One will expand to include tokenised equities and perpetuals.