First Step BTS Integration on Wirex is Made!

First Step BTS Integration on Wirex is Made!

The Blockchain Projects Team is very pleased that the Community has voted in favour of the proposed Wirex integration worker. In our view this is great news that will contribute to broader adoption of the BitShares Blockchain and its core native token BTS. Aim is that 2.2 million Wirex users can be able to also use BTS next to Bitcoin, Litecoin, Ethereum, Ripple, WAVES, NANO, DAI and XLM. Also, WirexApp provides easy access from crypto to Euro, British Pound and US Dollar at all Visa acceptance points.

Contribution to BitShares Marketing, Liquidity and Utility

The hassle free off-ramp possibility through WirexApp and does not only increase BitShares’ liquidity and utility. As WirexApp comes with 2.2 million card users, who might not have heard of BitShares before, a newsletter, and an affiliate program, the Wirex integration also means a great marketing opportunity as it comes with more exposure for BitShares Blockchain. For all of you who want to actively promote the use of BTS in combination with the Wirex options, please take a look at wirexapp.com.

What’s Next?

With the worker proposal becoming active, the first milestone of the worker has been achieved. Thank you all for your swift action. As a Community, we need to keep it at a high level in order to do the actual project in a fast manner. The worker needs funding! The integration part itself will take Wirex 4 weeks, not taking further legal implications into account. We must keep in mind we are the only unique Community that operates this sway and we cannot stretch it out over too much time.

Additionally, if required by Wirex, we will have to pursue a legal opinion letter for BTS that applies specifically to European regulations for the BitShares community, which will of course be made available to the BitShares Blockchain Foundation as well. As we have done so already under SEC regulations, which are amongst the strictest, we are confident this will work out.

It is important to note, that the application fee to start the process is 20.000 USD (Wirex has to hire lawyers to review the BitShares project). The remainder of the fee is paid upon listing. Legal cost for that are currently unknown.

Next step is to arrange the contractual obligations with Wirex based upon our rather not so usual funding system.

We will keep you posted!

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