Yeshu and I met at Devcon in Osaka. We had both been thinking about a big problem: decentralised applications can’t accept fiat deposits and withdrawals from mainstream users in most countries. DApps fight over the same few enthusiasts who have already endured the long and expensive process of onboarding into crypto. A few “fiat on-ramp” solutions exist, but are largely built around a single jurisdiction, unable to accommodate users from other countries.
In November we joined the Tachyon III accelerator program by Consensys and received pre-seed funding from them. We used this opportunity to build Transak’s fiat on-ramp for the UK and India. It’s an integration that decentralised apps can integrate and allow users to buy the necessary crypto without leaving their site. We received amazing feedback from those who tried it. We also went live with our first two customers — Idle and Zilliqa.
We’re now opening our door to integrations from the wider community and we’ll be making ourselves handy at ETHDenver to help everyone integrate Transak. We’re currently integrating some top names in blockchain:
The Transak product is unique because it aggregates on-ramps from different countries, saving decentralized applications the trouble. We want to help ‘decentralised apps’ to go from serving early adopters in just a few countries to going mainstream and global.
We’re excited to announce a partnership and $ZIL giveaway with Zilliqa. Keep you eyes peeled for a giveaway tweet on our Twitter.
We want to give a big thank you to everyone who helped us along the way: Jason, Brian, Peter, Mansi, Gabriel, Eric, Wee Ming, the rest of the Tachyon cohort, Shawn and all the others; you know who you are.
Advantages for applications
The Transak technology allows (decentralized) applications to
- Go mainstream: by allowing deposits and withdrawals and deposits in fiat decentralized applications can meet customers where they are and go mainstream
- Go global: Transak works with local payment methods in both eastern and western markets instead of just expensive card payments
- Easy integration: apps can integrate our widget in a few lines of code or connect directly to our white-label API
You can try Transak now to buy crypto with GBP and INR! Check it out here: global.transak.com.
You can integrate Transak within 5 minutes. Check out our integration guide to get an API key and integrate in 5 minutes: integration guide.