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Steve Muchoki
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Key Notes
- The Transak network has significantly benefited from increased payment transactions through the integration of Phantom and Solana.
- Phantom wallet users will have more payment options to make crypto purchases globally.
Transak, a top-tier Web3 payment infrastructure provider with over 8 million global users across more than 350 DeFi protocols, has announced a strategic partnership with multi-chain non-custodial wallet Phantom. According to the announcement, the Florida-based and globally accessed web3-focused company will provide Phantom users with unparalleled flexibility in the crypto payment options.
“We are thrilled to partner with Phantom, combining our innovative payment infrastructure with their exceptional wallet experience. This integration underscores our mission to provide financial freedom and empower users worldwide to engage with digital assets effortlessly,” Sami Start, CEO of Transak, noted.
Through making web3 applications accessible seamlessly around the world, Transak has grown to a reliable platform that is compliant with global regulatory standards, especially for anti-money laundering (AML) laws. Headquartered in Miami, US, and incorporated in Delaware, Transak has a tech hub in Bengaluru and offices in London, Milan, Dubai, and Hong Kong.
On the other hand, the Phantom wallet has established itself as a top-tier non-custodial wallet, with more than 7 million global users across different chains. The Phantom wallet is backed by several Web3 investors including a16z, Jump Crypto, and Variant, among others.
Key Features of the Phantom’s Integration with Transak
The top feature of the strategic partnership between Phantom Wallet and Transak is the introduction of a high transaction limit for global users. Precisely, the UK and EU customers using Ttansak on Phantom Wallet will have a transaction limit of up to $75K per single transaction.
Meanwhile, Phantom wallet users from the United States and other parts of the world will significantly benefit from the integration with Transak through expanded payment options and increased purchase limits. The move will be a major boost to liquidity injection to the Web3 ecosystem amid the mainstream adoption of digital assets and blockchain technology.
The Phantom users will heavily benefit from the wide variety of fiat-to-crypto payment options, including bank transfers and credit card payments to enhance global transactions.
As a regulatory-compliant Web3 infrastructure provider, Transak enables users to make seamless transactions with minimal details for KYC standards, including only name and email.
We saw a 400% spike in #SOL transactions on Transak in 7 weeks 🚀
💙 The @Solana network is only getting stronger! pic.twitter.com/btiSuEP8Il
— Transak (@Transak) November 29, 2024
The collaboration has been a huge boost to the Transak network in the recent past. Furthermore, Phantom Wallet is a favorite platform among Solana (SOL) network users.
In the weeks following the launch of Phantom Wallet on Transak, SOL purchases through Transak on Phantom surged 4x, accounting for 75 percent of Transak’s Solana volume.
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