Key Highlights:
- Transak joins Visa Direct to simplify crypto-to-fiat conversions for users globally.
- The partnership enhances the ease of converting major cryptocurrencies into local currencies.
Transak’s Strategic Move with Visa Direct
Yello Paradisers, In a significant leap for Web3 payments, Transak has partnered with Visa Direct, revolutionizing how its users convert cryptocurrency into fiat currency. This collaboration marks a milestone for the Web3 payments infrastructure provider, offering its services across more than 145 countries.
Simplifying Crypto Transactions
Transak’s integration with Visa Direct is a game-changer for crypto enthusiasts. The platform, known for its seamless payment and onboarding services, now enables users to effortlessly buy and sell crypto assets. Handling the nitty-gritty of KYC, risk monitoring, and compliance, Transak caters to prominent clients like MetaMask and Coinbase Wallet. Following a $20 million Series A funding last year, this move is a strategic step in Transak’s global expansion.
Visa Direct: Speed and Convenience
Visa Direct’s involvement means users can now process transactions in under 30 minutes, essentially converting their crypto holdings into fiat almost instantly. This feature is a boon for those looking to spend their crypto earnings at over 130 million merchant locations where Visa is accepted.
Yanilsa Gonzalez-Ore’s Take on the Partnership
Yanilsa Gonzalez-Ore, North America head of Visa Direct and Global Ecosystem Readiness, praised the partnership. She emphasized the enhanced user experience, highlighting the ease of converting crypto balances into fiat for spending at Visa-accepted locations.
Support for Major Cryptocurrencies
Transak’s platform supports over 40 major cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and Dogecoin (DOGE). This wide range of supported currencies, coupled with the platform’s availability in over 145 countries, positions Transak as a key player in the global Web3 payment landscape.
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