Miami, USA, November 10, 2023 (GLOBE NEWSWIRE) — ParaSwap, a leading decentralized finance (DeFi) aggregator with over $54 billion in total volume processed, has announced its integration with Transak, the leading crypto on/off-ramp Solution presented. This integration makes Transak the preferred on-ramp solution in ParaSwap’s iOS mobile wallet. This collaboration aims to transform the accessibility of DeFi, enabling iOS mobile wallet users to effortlessly find the best crypto prices and seamlessly purchase cryptocurrencies directly into their non-custodial wallets.
ParaSwap is widely known for its role as a DeFi middleware and aggregator, bringing together the liquidity of decentralized exchanges (DEX) and lending protocols to provide users with access to the cheapest prices in the DeFi space. The platform offers a streamlined route for exchanging assets within a secure and user-friendly interface and is aimed at beginners and experienced DeFi enthusiasts.
The partnership between ParaSwap and Transak addresses a common challenge faced by many potential DeFi participants: the transition from fiat to cryptocurrency. This transition often presents a significant hurdle for individuals seeking to enter the world of decentralized finance. Recognizing this, ParaSwap has integrated Transak into its iOS mobile wallet as a fiat-to-crypto solution to make the onboarding process smoother and more accessible to mainstream users. The collaboration between ParaSwap and Transak aims to create an environment where users can seamlessly enter and efficiently interact with the DeFi space.
Mounir Benchemled, founder of ParaSwapexpressed his enthusiasm for this integration and stated: “Transak contributes to ParaSwap’s mission to take DeFi participation to a new level by helping users seamlessly switch from fiat to cryptocurrencies and eliminating the friction, which often comes with the onboarding process.”
Transak, a global provider of Web3 payments and onboarding infrastructure, plays an important role in ParaSwap’s mission by providing a seamless bridge between traditional finance and the digital asset space. With the support of leading companies such as CE Innovation Capital, Consensys, Animoca Brands and Woodstock Fund, Transak’s strong support for over 170 cryptocurrencies and availability expands to more than 155 countries, including regions such as the UK, Europe, Australia, India and the Philippines, significantly expands the global reach and adoption of DeFi ecosystems. Transak also offers more than 20 local payment methods including debit/credit cards, bank transfers and popular options such as Google Pay and Apple Pay to provide ParaSwap users with a versatile and easy-to-use experience.
“Transak’s partnership with ParaSwap is a significant step towards a seamless DeFi experience. As more users find it easier to onboard, DeFi adoption will reach new horizons. ParaSwap and Transak’s joint efforts are a strong step towards a more inclusive and accessible DeFi landscape,” said Yeshu Agarwal, the CTO and co-founder of Transak.
This collaboration will allow users to seamlessly purchase and deposit cryptocurrencies directly into their crypto wallets using Transak’s robust infrastructure. This approach eliminates the need for intermediate transfers and gives users instant access to the best prices in DeFi.
The partnership between ParaSwap and Transak represents a significant step forward in creating an environment that not only encourages new users to enter the DeFi space, but also empowers them to deal with it efficiently, paving the way for one paving the way for wider DeFi adoption.
About ParaSwapParaSwap is a leading decentralized exchange (DEX) aggregator that streamlines token exchanges for users across multiple DEXs on the Ethereum blockchain and other EVM-compatible networks. The aim is to offer the best possible prices and minimize slippage by intelligently routing trades across the most efficient liquidity pools. With an impressive total processed volume of over $54 billion, ParaSwap operates on nine active blockchains including Ethereum, Binance Smart Chain, Avalanche, Polygon, Arbitrum, Optimism and more. The platform has more than 120 integrations, including collaborations with leading DeFi applications and protocols such as MetaMask, Ledger, Aave, Enzyme and more. Available on the App Store, the ParaSwap iOS mobile app is a non-custodial wallet that allows users to seamlessly store and manage their crypto assets on the go. A one-stop shop for the user, designed to unify ParaSwap as an ecosystem and give users access to a treasure trove of crypto management tools.
About TransakTransak is a global Web3 payments and onboarding infrastructure provider that enables seamless transitions between traditional finance and digital assets. Web3 platforms using Transak can enable users to buy, sell or mint digital assets across 75+ blockchains from 155+ countries, while Transak eliminates the complexities of user KYC, risk monitoring, compliance, payment methods and customer support reduced. Transak is trusted by over 350 leading apps including MetaMask, Coinbase, and supported by industry leaders such as Animoca Brands, Consensys, UOB, KX and others. Transak makes Web3 applications more accessible. For more information, visit transak.com or follow x. com/transak
Media Contact: Sidharth Dilip Senior Account Manager
[email protected]
Source: Transak
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