Transak Joins Forces with Visa for Seamless Direct Crypto-to-Fiat Transactions

Transak, the leading payments infrastructure provider for crypto and NFTs, has recently announced a collaboration with Visa, a global leader in digital payments. This collaboration is set to revolutionise the way users in over 145 countries convert their cryptocurrency holdings into local fiat currencies.

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Bridging the Gap: Crypto-to-Fiat Conversion Takes Centre Stage

In a fast-paced industry like the crypto industry, the ability to exit the market swiftly has become a critical concern. While platforms excel in optimising fiat-to-crypto conversions, the reverse process often lacks the efficiency demanded by users. Transak’s collaboration with Visa aims to address this gap by providing a robust solution for real-time card withdrawals through Visa Direct.

Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, highlights the significance of this collaboration: “By enabling real-time card withdrawals through Visa Direct, Transak is delivering a faster, simpler, and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 130 million merchant locations where Visa is accepted.”

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Real-Time Transactions: A Game-Changer in the Crypto World

Visa Direct’s ability to process real-time transactions is a game-changer in the crypto industry. Unlike traditional banking methods that take days, this collaboration empowers users to transfer money in almost 30 minutes or less. Combining this efficiency with Transak’s support for over 40 cryptocurrencies and a robust infrastructure will bring a new era for those seeking a swift exit from the crypto market.

This partnership has the potential to accelerate the conversion process and address the common challenges faced in traditional banking systems, especially when dealing with cross-border transactions. The collaboration is expected to significantly reduce delays and provide swift and secure access to funds in local currencies.

Widespread Accessibility: Integrating with Leading Web3 Wallets and Games

Transak’s extensive presence on 350+ leading Web3 wallets and games, including Coinbase Wallet, Decentraland, Ledger, MetaMask, Splinterlands, and Trust Wallet, ensures widespread accessibility. This integration places crypto-to-fiat conversion at the fingertips of millions globally. These well-known platforms extend beyond the storage of digital assets to include various interactive and transactional activities in the Web3 space.

Sami Start, Co-founder & CEO of Transak, emphasises the impact of this collaboration: “We believe this partnership is an inflection point for Web3 as a whole. Now, millions across the globe have a straightforward way to cashout their digital asset holdings to their local currency in real-time and intuitively. They no longer have to walk the treacherous path of compliance uncertainty or face risks of fraud — Transak and Visa have them covered for over 40 cryptocurrencies.”

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Maturing the Crypto Landscape: A Crucial Step Towards Mainstream Acceptance

Transak’s collaboration with Visa Direct is a crucial step towards the maturation and mainstream acceptance of digital currencies. This collaboration addresses a long-standing bottleneck in the crypto space by facilitating the quick conversion of cryptocurrency holdings into local fiat currency.

The ability to efficiently convert cryptocurrencies to fiat is a huge convenience that dismantles the barriers of complexity and uncertainty that have hindered crypto adoption among the general public. This collaboration between Transak and Visa Direct is an event in crypto evolution that will bring us closer to a future where digital currencies coexist with traditional financial systems.

Shaping the Future of Crypto Transactions

The Transak-Visa collaboration addresses compliance and fraud risks apart from convenience and speed. Now more than ever, the crypto industry needs a reliable, compliant, and fraud-resistant off-ramp. Transak is committed to user security and Visa Direct and has an established track record of digital payments that promises to set new standards in safety and compliance.

Additionally, Transak is known for its API-driven solutions that facilitate Web3 onboarding. The collaboration with Visa Direct expands Transak’s influence by providing a comprehensive ecosystem for users to navigate between the crypto and fiat worlds.

While the collaboration between Transak and Visa Direct holds immense promise for the seasoned crypto enthusiast, its impact on mainstream adoption cannot be overstated. The ability to convert cryptocurrency holdings into local fiat currencies quickly, securely, and intuitively removes the complexity and uncertainty that has been a barrier to entry for many potential users.

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