Wyre Release Updates Q3 Recap
A Look Back at the Updates To the Wyre Checkout and API for the Third Quarter
Going forward, we’ll be doing monthly release notes instead of weekly. Monthly & Quarterly Recaps. We believe this will be more valuable and concise in delivering what’s been happening with Wyre’s products and services.
Without further ado, let’s hop into our Q3 recap!
It was a massive quarter for Wyre. We have hired a ton of new people to the team to help achieve our goals and hit our milestones quicker than ever. There were many product improvements, and we have some fantastic things planned for Q4.
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💳 Checkout Widget
It was a colossal quarter for our Checkout product. We wanted to spend a significant amount of time this last quarter focusing on upgrading our card processing. We made tremendous progress.
Updated UI
Among all the changes, the most noticeable was a complete overhaul of the Checkout Flow. The UI needed a significant update. We worked with one of the top designers in the space to spruce it up. Check out the blog on the update.
Along with the UI, we made some notable changes to functionality and the limits,
- Credit cards enabled
- Discover Network for US users
- Limits were Raised
- 25+ New Countries were added
- White Label Card Processing API
- New Fiat `sourceCurrencies` Supported
🏦 Platform
Two primary goals for the Wyre platform in Q3 was to launch the Savings API and list new tokens.
Wyre Savings API
The Wyre Savings API now allows our partners to create interest-bearing sub-wallets for their users. We work with top DeFi and CeFi lending providers in the space to provide excellent and consistent yields on Bitcoin, Ethereum, and ERC20-Based Stablecoins. It is extremely easy for existing Wyre API partners to now offer competitive yield for their users. New partners will be able to add a ton of value for their users without having to chase rates around the ecosystem. We see this as an opportunity for the crypto space and challenger banks to offer 100x when compared to the national average for treasury yields.
New Tokens
Wyre has traditionally only supported a handful of tokens for our on/off-ramps products. In August, we made a strategic acquisition to bring on a team with a pedigree of shipping fast and building excellent products. They’ve helped us release our first batch of new tokens to Wyre. We’ve added support for GUSD, BUSD, USDT, USDS, and PAX stablecoins. This is just the first batch of tokens added to Wyre, and we have plans for a ton more to be added over the coming months.
Along with these two new additions to the Wyre platform, there were many product improvements, including.
- Higher ACH limits ($2,500 → $5,000 Weekly)
- Improvement to USD/DAI Rates
- New website design and updated documentation
- New compliance automation to help with the turnaround time
- New Liquidity Partners for better rates
- No Blockchain Fees for Inter-Wyre Transfers
Looking Ahead to Q4
We have some major updates coming to the Checkout, API, and Wyre Dashboard for Q4.
Dashboard Update
The current Wyre Dashboard was designed with individual users in mind back in 2016 when Wyre was focused on international remittance. Since we’ve shifted to being more partner-centric, it was time to tailor this experience to be a hub for our partners. At first, we’ll update the outdated UI to provide something a little more modern and fresh. After the UI has been updated, we’ll launch a developer-focused Dashboard to provide partners with new functionality and account management tools.
Digital Wallets and New Geographical Coverage
We’ll be adding support for Samsung Pay and Google Pay for international and US-based users of the Checkout during quarter four. This has been a top request, and it will finally be added in the coming months.
We’re also working closely with regulators to get support for all 50 states. This has been the top goal of our compliance team, and we are working diligently to make this a reality by the end of the year. WYRE ❤️ ‘s NY
Continued Improvement and Optimization
We spent a large amount of our time working on fixing bugs with our products. We are still committed to making Wyre the most user friendly and highest converting products in the space. Every month in the Wyre Release Updates, look for the latest bug fixes and optimizations. If you have any suggestions on increasing usability or potential bug fixes, please reach out!
