UK-based fiat-to-crypto payment gateway, Transak entered India after successfully running operations in over 60 countries. The company’s launch in India marks the entry of the nation’s first and only fiat on-ramp provider.
In addition to building a team of over 50 local talents, Transak has partnered with marquee web3 players like Polygon, WazirXNFT, and Zilliqa and is under process to further integrate with Mudrex, edge wallet, and others.
The UK-based payment gateway would enable users to buy crypto using bank transfers, debit or credit cards, wallets, UPI, and various payment applications worldwide to catalyze mass adoption of crypto transactions.
Transak’s gateway is integrated with fiat payment methods around the globe which could further be used to make the purchase.
“We are thrilled to extend our shared passion of simplifying crypto transactions to the Indian market,” said Sami Start, Co-Founder, Transak.
“With the world’s second-largest population, the Indian market has both the opportunity and will to fast-track future with web3 developments by way of mass adoption. We believe Transak would bridge that gap in the Indian market and would tap into the true potential of its one 1.4 billion nationals,” added Sami Start.
By offering an easy route to add the gateway to an app or website with just a few lines of code, Transak’s fiat-to-crypto payment gateway empowers both novices and enthusiasts. It enables easy to purchase, sell, and trade-in of cryptocurrencies.
With its comprehensive crypto coverage, the gateway supports all major blockchains, tokens, and stable coins, marking a tally of more than 80 cryptocurrencies.
Elaborating on Transak’s progress so far and its plans for the market, Yeshu Agarwal, Co-Founder, Transak, said, “Transak uniquely provides fiat on-ramp in India, and our extended vision is to empower and enable the Dapps built in India to have secure yet seamless onboarding onto crypto-economy.”
“With Transak, users will now be able to directly buy crypto using INR via bank transfers, debit/credit cards, wallets, UPI, and various payment applications worldwide. To execute this vision, we are also looking at utilizing the local talent pool as we plan to grow our team to 200 plus by hiring across functions,” added Agarwal.