Wirex and Uzbekistan Direct Investment Fund sign MoU supporting blockchain technology implementation

LONDON, 28 September 2022 /PRNewswire/ — Wirex, a global leader in the blockchain industry, today announced the signing of the Memorandum of Understanding with the Uzbekistan Direct Investment Fund. With this partnership, the company will support the Uzbek government as it implements blockchain solutions and distributed ledger technology for various public services.

The collaboration with Wirex comes at a key time as Uzbekistan looks set to become a Central Asian leader in the implementation of innovative financial technology. Having established a forward-looking regulatory framework for the country’s sector, the move aims to further attract private and institutional investors. In addition to the partnership, Wirex plans to provide financial investment to several projects to promote growth in the financial and blockchain sectors, enabling 35 million Uzbekistan to access the benefits of blockchain technology.

Atabek Nazirov, Director of Uzbekistan Direct Investment Fund commented: “Being located in the heart of Central Asiawith traditions infused by the great silk road, Uzbekistan has always played a decisive role in the economic and financial growth of the region. To continue on this path, it is important that we take advantage of the opportunities within the global fintech space and use new technologies, including blockchain and distributed ledger. Wirex is a global veteran and one of the fintech leaders, with regulatory expertise in several markets. They already have what we need to achieve this, including the global regulatory landscape and technical aspects of blockchain integration. We are delighted to choose to partner with Wirex.”

Commenting on the partnership, Svyatoslav GaralCEO of Wirex APAC said: “Over the past 7 years, our company has accumulated vast experience in developing blockchain technologies and has built one of the best platforms in the world. In line with our goals, this partnership is a significant milestone not only for Wirex and Uzbekistan, but also for blockchain more generally. We are excited to work with the Uzbekistan Direct Investment Fund to help the sector thrive, enrich the financial ecosystem there and set a benchmark for other countries, and ultimately expand.”

About Wirex

Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payment area. In 2015, the firm developed the world’s first crypto-enabled payment card that allows users to seamlessly use crypto and traditional currencies in real life.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible to everyone. With the main goal of making it as easy as possible to use digital assets in everyday life, Wirex offers a reliable and cost-effective service for crypto and traditional currency transactions by incorporating next-generation payment infrastructure integrated with cryptocurrency blockchains.

With over 5 million customers in 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralized mobile app. Fast and easy crypto transfer options are available, as well as the freedom to use 150+ traditional and crypto currencies in more than 80 million locations around the world using the Wirex card.

Wirex continues to develop the product in line with market developments, while complying with regional regulations and ensuring appropriate licensing where available. A proven industry pioneer, Wirex launched its own native utility token, WXT, and introduced the world’s first crypto rewards program, Cryptoback™, which gives cardholders up to 8% back in WXT for every transaction they make.

To reflect the growth of the metaverse, through 2021, the company has expanded its product to enable mainstream access to DeFi. Starting with the launch of their popular X-Accounts feature, which offers unprecedented interest levels, Wirex has continued to add to its DeFi arsenal with the release of the non-custodial Wirex wallet and a partnership with Nereus, a decentralized liquidity market.

Wirex is based in Londonwith offices in Singapore, Kyiv, Dallas, Dublin and Atlanta. With over 5 billion dollars worth of transactions already processed and rapid expansion into new territories, including the US, Wirex is uniquely positioned to support and advance the mass adoption of a cashless society through creative solutions.

| wirexapp.com |

About the Uzbekistan Direct Investment Fund

Uzbekistan Direct Investment Fund (UzDIF) is a state-owned fund with a focus on providing long-term capital to leading companies in Uzbekistan with strong potential for growth and high shareholder returns. The fund also aims to attract foreign investment as co-investors to develop growing industries, support small and medium-sized enterprises (SMEs) and develop regional economies. The Uzbekistan Fund for Reconstruction and Development (UFRD), a sovereign wealth fund, is the sole shareholder of the Direct Investment Fund.

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SOURCE Wirex