Faces of Web3: Pavel Matveev, Wirex

Faces of Web3: Pavel Matveev, Wirex
April 1, 2025

Web3 pioneer Pavel Matveev’s journey into the world of digital finance began with over 15 years in software development and IT management at prominent investment banks, including Morgan Stanley, Barclays Capital, and Credit Suisse in London.

In 2014, recognizing the potential of cryptocurrencies to revolutionise traditional finance, he co-founded Wirex with Dmitry Lazarichev. Their mission was to create a seamless bridge between digital and fiat currencies, making cryptocurrencies accessible for everyday transactions. Under Pavel’s leadership, Wirex introduced the world’s first crypto-enabled debit card, allowing users to spend digital assets effortlessly at millions of locations worldwide.

Beyond Wirex, Pavel also works with COCA Wallet. COCA Wallet is the first wallet with a non-custodial debit card utilizing Multi-Party Computation (MPC) cryptography, further enhancing security and usability in the crypto space.

A staunch advocate for the mass adoption of cryptocurrencies, Pavel continues to drive innovation, aiming to integrate digital assets seamlessly into daily financial activities.

How did you get started in the Web3 space?

I got started over 10 years ago, at a time when Bitcoin was the only cryptocurrency in existence. It was an exciting and experimental phase for the entire crypto ecosystem. I saw the potential early on and believed in the transformative power of digital assets. Wirex was the first company to develop a crypto debit card, allowing users to spend their digital assets at over 80 million merchants. Additionally, we became the first crypto company to be a principal member of both Visa and Mastercard, which was a significant milestone in bridging the gap between traditional finance and the digital asset world. The evolution of Web3 since then has been incredible, and I’ve been fortunate to be a part of it, adapting and innovating as the space grew.

What was your motivator to found Wirex?

When I founded Wirex, together with other Web3 pioneer Dmitry Lazarichev, my primary motivator was the vision of making cryptocurrencies more accessible and integrated into the global financial system. I saw a lack of tools and services that could easily connect the world of crypto with traditional financial systems. Wirex was designed to fill that gap, offering users the ability to spend their digital assets just like traditional money, making it easier for people to adopt and trust cryptocurrencies. 

The definition of ‘Web3’ is quite broad and varies depending on the industry backgrounds of the people you speak to. How do you define the term?

For me, Web3 is the natural next step in the evolution of digital networks. With my background in IT and crypto, I see it as a way to decentralise control and empower individuals. Blockchain technology is, at its core, enabling users to own and control their data, digital assets, and even how they interact online. It’s a more open, secure, and transparent way for people to engage with the digital world.

What do you determine to be the biggest societal opportunities that Web3 brings?

One of the most exciting and impactful opportunities that Web3 brings is financial inclusion. For millions of people around the world – particularly in underserved regions like parts of Africa and South America – traditional banking is simply out of reach. This creates a major barrier to accessing essential financial services, from basic savings accounts to loans for small businesses. However, with Web3 and decentralised finance, the game is changing. 

Cryptocurrencies like Bitcoin provide a gateway to the global financial system, bypassing the need for traditional bank accounts. This means that anyone with an internet connection can take part in the economy, whether it’s lending, borrowing, or investing, without relying on banks or intermediaries. It’s a powerful tool that enables financial empowerment, especially for people who’ve never had access to conventional banking.

At Wirex, we’re making this a reality by helping users easily spend their cryptocurrencies alongside traditional currencies. By bridging the gap between digital and fiat money, we’re enabling people to use their digital assets in everyday transactions, just like any other form of payment – whether it’s paying for groceries, booking a trip, or even paying for services. 

This level of accessibility opens up a world of opportunities, offering individuals the freedom to control their own finances, start businesses, and invest – all from the comfort of their phones.  

For those without access to traditional banking, Web3 is a game-changer. It’s about reshaping the financial system itself, making it more inclusive, transparent, and accessible to everyone, regardless of where they live.

And what do you see as the biggest challenge that the Web3 community faces?

I believe getting more people on board with Web3 is one of the biggest challenges we face. While the technology holds incredible promise, many people still find it intimidating or hard to grasp. Concepts like crypto wallets, decentralised apps, and navigating exchanges can feel overwhelming, especially for those who are new to the space. Right now, many of the tools available are still too complex for people to feel comfortable using them. 

In my view, to overcome this, we need to make Web3 platforms more user-friendly and intuitive. I think simplifying the design and improving the overall experience is key. Security should be clear and easy to understand, and the entire process of using Web3 should feel seamless.  

In addition to making the tools more intuitive, it’s crucial to provide clear, informative guides that make Web3’s complexities more understandable for users. Showing people how it can improve their daily lives will help them realise that, while it might seem complicated at first, it’s not as hard as it appears.

What lessons have you learned from scaling crypto payment solutions, and how does that shape your approach to new projects?

Building crypto payment solutions has taught me several valuable lessons. One of the biggest takeaways is the importance of understanding the user. When we started with Wirex, we focused on making the user experience as simple and intuitive as possible, knowing that the more straightforward the process, the easier it is for adoption. 

Another lesson is the critical need for security and adaptability. As crypto grows, so do the security risks and regulatory changes. Ensuring that our systems were robust enough to protect users while remaining compliant with regulations was a top priority. 

Lastly, I’ve realised that progress isn’t solely driven by technology: it’s about developing solutions that adapt to the changing needs of users. 

What are some career highlights in your Web3 journey?

Throughout my journey in Web3, I’ve been fortunate to be part of some incredible projects that have not only shaped my career but also contributed to the evolution of the crypto space. One of the most meaningful achievements has been co-founding Wirex with Dmitry Lazarichev. Together, we’ve worked hard to build something that’s truly pioneering – like Wirex Pay, our innovative stablecoin payment platform. It’s been amazing to see how it’s helped people bridge the gap between digital and traditional finance. For me, every success we’ve had with Wirex is a personal achievement too, because it’s a reflection of our shared vision and the hard work we’ve put in. 

Another proud moment in my career has been joining COCA Wallet as a product and strategy advisor. We created the world’s first MPC wallet with a non-custodial debit card, and it’s been incredible to be a part of such an innovative project. This is the kind of technology that makes digital asset management safer and more accessible, and to know I played a role in its development is deeply fulfilling. 

But beyond these projects, I’ve learned so much from the people I’ve worked with – the brilliant minds, the challenges we’ve faced together, and the breakthroughs we’ve celebrated. Every milestone, whether big or small, is a reminder of the positive impact we can have on the industry. And for me, it’s not just about what I’ve accomplished – it’s about how I’ve grown alongside this fast-moving space, and how I’m still excited to keep pushing for more innovation.

What’s coming up for you and Wirex in 2025?

In 2025, I’m excited about the next phase of growth for Wirex as we continue to push the boundaries of digital finance. We have some exciting plans to further integrate traditional finance with Web3, and I’m particularly looking forward to expanding Wirex Pay. We’re aiming to make digital assets even more accessible to everyday users, simplifying how people interact with their crypto in daily transactions. 

Another key focus for us will be expanding our partnerships and collaborations, building on the momentum we’ve gained with Visa and Mastercard. Our goal is to continue innovating and offering new solutions that enhance both security and usability for our users. We’ll also be placing a strong emphasis on education – helping our community better understand how they can harness the full potential of Web3 technology.

Personally, I’m looking forward to working on even more projects that bring real-world value to the Web3 space, and continuing to play a part in shaping the future of digital finance. It’s going to be an exciting year of growth, learning, and innovation.

What inspires you to stay motivated professionally?

What really keeps me motivated is knowing that the work we’re doing now is laying the groundwork for something much bigger. The idea that we could help build a more inclusive financial world, one where digital finance is accessible to everyone, is so meaningful to me. The vision of having a lasting, positive impact on the way people manage and think about money keeps me focused and excited about the future.

When you’re not working, where would we most likely find you?

Given my background, I’m often experimenting with new tech and gadgets in my downtime. Whether it’s exploring the latest blockchain projects or testing out new software, I love staying hands-on with innovations in the tech space.

For more information and the inside scoop be sure to follow Pavel on X and LinkedIn. For everything Wirex, you can stay connected on X, Instagram, and LinkedIn for all the latest news!

If Pavel’s story inspired you and you’re craving more Web3 insights, dive into our exciting “Faces of Web3” series via our blog!