How Wirex Processes Millions of Transactions with Moralis
Learn how Wirex, the digital payment platform used by over 6 million people, is able to process millions of transactions with low latency using Moralis APIs.
CEO of Wirex
CEO of Wirex
Pavel Matveev
CHALLENGE
Finding a Web3 data provider to handle high loads, millions of transactions without downtime, with multichain support and comprehensive APIs for wallet management, transaction tracking, and price monitoring.
SOLUTION
Using Moralis APIs to meet Wirex’s high-load requirements as well as stable multichain support, allowing Wirex to process millions of transactions with low latency.
RESULTS
Wirex has been able to dramatically scale its Web3 operations, support more tokens assets and chains, and maintain high performance and reliability.
About Wirex
Wirex is a global leader in digital payments, with over 6 million customers in more than 130 countries. Wirex is looking to continue its expansion into Web3 and provide mainstream access to DeFi and wealth management. For example, Wirex’s upcoming launch of WPay, an App Chain for decentralized payments, seeks to redefine how people interact with digital assets and traditional finance.
Wirex aims to provide a simple, trusted, and cost-effective way to deal with digital payments in everyday life. As part of this, Wirex delivers a single platform for users to buy, hold, exchange, and spend both traditional and cryptocurrency assets. Wirex supports a wide range of chains and a long list of use cases.
Wirex’s Challenge
In order to accelerate its expansion into Web3, Wirex initially faced several challenges when looking for a Web3 data provider. This was due to Wirex’s need for a comprehensive Web3 provider able to offer multichain support and handle high loads while providing a reliable and stable solution. In addition, Wirex also sought to find a single API provider to serve all their Web3 data needs, including, e.g., wallet management, transaction tracking, and price monitoring.
In comparing different Web3 providers, Wirex found that many of these were in too early stages of development to be practically usable or that their solutions were too unstable to support Wirex’s operations reliably. This constituted a significant challenge for reliably getting the Web3 data Wirex needed.
Moralis Wallet API and Price API
In the end, Wirex decided to go with Moralis, the only API provider that could tick all of Wirex’s requirements. Importantly, Moralis could meet Wirex’s high-load specifications without compromising on performance, stability, or cross-chain compatibility.
For a digital payment platform like Wirex, it is vital to provide a good experience for users’ asset management, prices, and transaction overviews. Wirex was able to solve all of these challenges with the Moralis Wallet API and Price API. The Moralis Wallet API is crucial for managing user wallets, offering broad support for various user assets, full wallet history, automatically decoded wallet data, spam filters, multichain compatibility, and much more. The Moralis Price API’s extensive price coverage ranges from the newest coins to the largest cryptocurrencies. It provides both full historical and real-time price data, ensuring users have access to current and accurate market information.
Why Moralis?
After evaluating numerous providers, Wirex chose Moralis for its comprehensive suite of services that perfectly aligned with all of Wirex’s needs. Moralis’ capability to support multichain operations and its robust infrastructure made it the ideal choice, ensuring that Wirex could maintain high performance and reliability.
The integration of Moralis APIs has empowered Wirex to scale its operations rapidly, broadening the scope of tokens and chains available to users worldwide. Moralis is also instrumental in supporting Wirex’s expansion into the Web3 space, such as the upcoming launch of WPay, a Decentralized Payment Network merging traditional and decentralized finance (DeFi). With WPay, Wirex will offer self-custody, a ZK-powered App Chain, and instant spending.
Conclusion
By leveraging Moralis, Wirex was able to accelerate its crypto payment initatives. In preparation of launching WPay, Wirex’s partnership with Moralis will continue to play a crucial role in their strategy to redefine financial transactions in the digital age. If you want to sign up for Wirex today, go to https://wirexapp.com