Transak Announces Strategic Partnership with Phantom Web3 Wallet to Enable Seamless Purchases of Digital Assets

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As an analyst with over two decades of experience in the financial industry, I find this partnership between Transak and Phantom to be a strategic move that could potentially revolutionize the Web3 payment landscape. The combination of Transak’s robust regulatory-compliant infrastructure and Phantom’s user-friendly non-custodial wallet could indeed provide an unparalleled experience for users worldwide.

Transak, a leading provider of Web3 payment infrastructure that boasts over 8 million users worldwide across more than 350 DeFi protocols, has formed a strategic alliance with Phantom, a multi-chain, non-custodial wallet. This partnership will grant Phantom users access to an unprecedented variety of crypto payment choices, as per the announcement from Transak. The company, based in Florida and accessible globally, focuses on web3 technology.

As a crypto investor, I’m excited to announce our partnership with Phantom. We’re merging our cutting-edge payment system with their top-notch wallet experience. This collaboration emphasizes our goal to offer financial independence and enable users globally to interact seamlessly with digital assets. According to Sami Start, our CEO at Transak, this union underscores our mission statement.

By ensuring smooth access to web3 applications globally, Transak has evolved into a trusted platform that adheres to international regulatory norms, particularly regarding anti-money laundering (AML) regulations. Based in Miami, USA, with its incorporation in Delaware, Transak boasts a tech center in Bengaluru and offices spread across London, Milan, Dubai, and Hong Kong.

Conversely, the Phantom digital wallet has risen to prominence as a leading non-custodial option, boasting over 7 million users worldwide spanning various chains. This popular wallet counts prominent Web3 investors such as a16z, Jump Capital, and Variant among its backers.

Key Features of the Phantom’s Integration with Transak

The key advantage of the strategic alliance between Phantom Wallet and Transak is the implementation of substantial transaction limits for international users. Specifically, users in the UK and EU who utilize Transak within the Phantom Wallet will benefit from a single transaction limit of up to $75,000.

In simpler terms, this means that Phantom wallet users in the U.S. and other countries will gain advantages like more payment choices and higher buying limits due to the integration with Transak. This change is expected to increase liquidity within the Web3 ecosystem, which is growing rapidly as digital assets and blockchain technology become more mainstream.

Users of the Phantom platform can look forward to significant advantages due to the diverse selection of methods for converting fiat currency into cryptocurrency, such as wire transfers from banks and credit card payments. These options aim to streamline international transactions.

In a compliant manner, Transak offers an infrastructure for Web3 that allows users to effortlessly carry out transactions while providing just essential information such as name and email address for Know Your Customer (KYC) requirements, keeping the process streamlined and straightforward.

We saw a 400% spike in #SOL transactions on Transak in 7 weeks 🚀

💙 The @Solana network is only getting stronger!

— Transak (@Transak) November 29, 2024

In the recent period, the collaboration has significantly amplified my experience within the Transak network as a crypto investor. Notably, Phantom Wallet, a highly preferred platform by Solana (SOL) network users, has played an integral role in this positive shift.

After the debut of Phantom Wallet on the Transak platform, there was a significant increase in Solana purchases via Transak on Phantom, which quadrupled, making up 75% of Transak’s total Solana transaction volume in the ensuing weeks.

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2024-12-05 19:06