Transak grows its volume by 50% and doubles user base despite crypto winter

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  • Transak grows its volume by 50% and doubled its user base, despite crypto winter.
  •  It now enables fiat to crypto purchases in more than 150 countries and supports onboarding to more than 75 blockchains.

According to latest reports, Transak has had its best year ever in 2022, with a 50% increase in transactional volume and a doubling of its user base despite the crypto winter. Transak has become the No.1 on-ramp with 28+ payment methods being offered and is now used by over 350 web3 applications. It now enables fiat to crypto purchases in 150+ countries and supports onboarding to 75+ blockchains. In addition to this impressive growth and development, Transak has acquired major regulatory registrations including the FCA in the UK and VASP in the EU.

In 2022, Transak not only optimized its on-ramp product but also built solutions to ease onboarding to web3. It launched its off-ramp services in Europe and the UK for 40+ cryptocurrencies and will soon launch crypto-to-fiat services for the US. It also launched Transak One, a first-of-its-kind solution enabling fiat-to-NFT/smart contract purchases, in beta. This product will remove many existing barriers to web3 onboarding and make it mainstream-ready.

Transak continued its rapid global expansion, launching its On-Ramping services in major developing economies like the Philippines, Thailand, India, and across Latin America. Customers in these regions are supported through multiple local payment methods which makes crypto purchases easy as the fintech environment continues to evolve there. 

Transak is now the trusted onboarding partner of many of the leading web3 platforms, across Defi, Gaming, DEX/CEX, NFTs, and many other dApps. Already integrated on platforms like MetaMask, Trust Wallet, Coinbase, AAVE, Sushi, and Splinterlands Decentraland, it’s now also doing deeper aggregation with infrastructure companies like Biconomy and Juno to reduce friction and ease onboarding to web3.

To support this growth, Transak has sustainably scaled its team to around 80 people, with a technology hub established in Bangalore, India.

Looking ahead to 2023, Transak plans to scale its services even further, adding more local payment methods in the USA, Europe, APAC, and Africa, and making the Transak One solution available across multiple blockchains. The company also aims to ease onboarding to web3 games. Overall, Transak has had a successful year in 2022 and is well-positioned for continued growth in the coming year.

About Transak

Transak is a leading Web3 onboarding infrastructure provider. Its API-driven solutions enable web3 platforms to onboard users to 130+ crypto assets from 150+ countries, abstracting away the complexity of user KYC, risk monitoring & compliance, payment methods, and customer support. Transak’s On/Off-Ramp widget can be integrated into an app in just a few lines of code. Transak is backed by top VCs, including Consensys, Animoca Brands, and graduated from the Tachyon accelerator program.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Lacton Muriuki

Lacton is an experienced journalist specializing in blockchain-based technologies, including NFTs and cryptocurrency. He dabbles in daily crypto news rich with well-researched stats. He adds aesthetic appeal, adding a human face to technology.

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