News from the Wire

Crypto wallet Phantom integrates Transak

Thursday, December 05, 2024 — 16:01:59 (EST)

MIAMI, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Transak, the leading Web3 payments infrastructure provider, is excited to announce its integration with Phantom, one of the fastest-growing non-custodial wallets in the crypto ecosystem. This partnership, enabled by Meld, a global on-ramp and off-ramp orchestration platform, marks a significant step forward in making digital assets more accessible and user-friendly for a global audience.

Phantom’s Stellar Trajectory

Phantom continues to dominate the non-custodial wallet market, boasting millions of users across 100+ countries and ranking among the top apps, ahead of Instagram, WhatsApp, TikTok and others on the Apple App Store in November 2024. Initially built for Solana, Phantom has expanded its support to include Ethereum, Polygon, and Bitcoin, driving its multi-chain adoption.

Integration Driving Explosive Growth

Since the integration of Transak with Phantom Wallet, the impact has been immediate and transformative. As highlighted in a recent tweet by Transak, Solana (SOL) transactions on Transak have surged by 400% within just seven weeks, demonstrating the immense popularity of this partnership. This remarkable growth underlines the combined value of Phantom’s usability and Transak’s streamlined payment infrastructure for users in the Solana ecosystem and beyond.

Key Features of the Integration

1. High Transaction Limits Globally

Available for Transak users worldwide, this integration introduces unparalleled flexibility.

UK and EU users can purchase up to $75,000 per transaction, significantly enhancing their crypto buying experience.

Users from the US and other global regions benefit from expanded payment options and increased purchase limits, making Web3 more accessible than ever.

2. Diverse Payment Methods

With over 20+ local and global payment options, including bank transfers, credit cards, and other popular methods, this partnership caters to a wide range of user preferences, ensuring a smooth fiat-to-crypto experience.

3. User-Friendly Onboarding

Transak’s multi-level KYC process enables new users to start with minimal information, such as a name and email, while maintaining robust compliance standards.

Phantom And The Solana Ecosystem

As a favorite wallet among Solana users, Phantom’s integration with Transak further enhances its ecosystem dominance. In the weeks following the launch, SOL purchases through Transak on Phantom surged 4x, accounting for 75% of Transak’s Solana volume.

Empowering Global Web3 Access

This collaboration simplifies crypto adoption for users globally, especially in growing markets like DeFi, NFTs, and meme coins. Whether it’s purchasing assets like BONK or participating in the latest blockchain trends, Transak and Phantom ensure seamless access with local payment methods and intuitive features.

“We are thrilled to partner with Phantom, combining our innovative payment infrastructure with their exceptional wallet experience. This integration underscores our mission to provide financial freedom and empower users worldwide to engage with digital assets effortlessly,” said Sami Start, CEO of Transak.

About Transak

Transak is the world's most compliant and largest Web3 payments infrastructure provider, serving over 8 million users across 160 countries. It powers 350+ platforms, facilitating the purchase and sale of digital assets with its API-driven fiat-crypto on/off-ramp, NFT checkout, and other solutions that simplify KYC, compliance, payment methods, and customer support.

Headquartered in Miami, US, and incorporated in Delaware, Transak has a tech hub in Bengaluru and offices in London, Milan, Dubai, and Hong Kong.

For more information, visit transak.com or follow us on x.com/transak and linkedin.com/company/transak

Contact

Harshit Gangwar Harshit.gangwar@transak.com

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Source: Company press release.