Miami, USA, Nov. 10, 2023 (GLOBE NEWSWIRE) -- ParaSwap, a leading decentralized finance (DeFi) aggregator with a total volume processed of over $54 billion, unveiled its integration of Transak, the leading crypto on/off ramp solution. This integration makes Transak the preferred on-ramp solution in ParaSwap’s iOS mobile wallet. This collaboration is poised to transform the accessibility of DeFi, empowering iOS mobile wallet users to effortlessly discover the best crypto prices and seamlessly purchase cryptocurrencies directly into their non-custodial wallets.
ParaSwap is widely recognized for its role as a DeFi middleware and aggregator, bringing together decentralized exchange (DEX) and lending protocols liquidity to offer users access to the most favourable prices in the DeFi space. The platform boasts an optimized route for exchanging assets within a secure and user-friendly interface, catering to novice and experienced DeFi enthusiasts.
The partnership between ParaSwap and Transak addresses a common challenge faced by many prospective DeFi participants: the transition from fiat to cryptocurrency. This transition often poses a significant hurdle for individuals eager to enter the world of decentralized finance. Recognizing this, ParaSwap has integrated Transak on its iOS mobile wallet as a fiat-to-crypto solution to make the onboarding process smoother and more accessible for mainstream users. The collaboration between ParaSwap and Transak is expected to foster an environment where users can seamlessly enter the DeFi space and engage with it efficiently.
Mounir Benchemled, Founder of ParaSwap, expressed his enthusiasm for this integration, stating, "Transak contributes to ParaSwap's mission of driving DeFi participation to new heights by helping users seamlessly transition from fiat to cryptocurrencies, eliminating the friction that often comes with the onboarding process."
Transak, a global Web3 payment and onboarding infrastructure provider, plays a vital role in ParaSwap's mission by offering a seamless bridge between traditional finance and the digital asset space. Backed by leaders like CE Innovation Capital, Consensys, Animoca Brands, and Woodstock Fund, Transak's robust support for over 170 cryptocurrencies and availability in 155+ countries, including regions such as the UK, Europe, Australia, India, and the Philippines, significantly widens the global reach and adoption of DeFi ecosystems. Transak also provides more than 20 local payment methods, including debit/credit cards, bank transfers, and popular options like Google Pay and Apple Pay, ensuring a versatile and user-friendly experience for ParaSwap users.
"Transak's partnership with ParaSwap is a significant stride towards achieving a frictionless DeFi experience. As more users find it easier to onboard, the adoption of DeFi is poised to reach new horizons. The combined efforts of ParaSwap and Transak is a strong step towards a more inclusive and accessible DeFi landscape," said Yeshu Agarwal, the CTO and co-founder of Transak.
Through this collaboration, users can seamlessly purchase cryptocurrency using Transak's robust infrastructure and directly deposit it into their crypto wallets. This approach eliminates the need for intermediate transfers and allows users to access the best prices in DeFi immediately.
The partnership between ParaSwap and Transak represents a significant step forward in fostering an environment that not only encourages new users to enter the DeFi space but also empowers them to engage with it efficiently, paving the way for broader DeFi adoption.
ParaSwap is a leading decentralized exchange (DEX) aggregator that optimizes token swaps for users across multiple DEXs on the Ethereum blockchain and other EVM-compatible networks. It aims to provide the best possible prices and minimize slippage by intelligently routing trades through the most efficient liquidity pools.
With an impressive total volume processed of over $54 billion, ParaSwap operates across nine active blockchains, including Ethereum, Binance Smart Chain, Avalanche, Polygon, Arbitrum, Optimism, and more. The platform boasts over 120 integrations, including collaborations with top DeFi applications and protocols such as MetaMask, Ledger, Aave, Enzyme, and more.
Available on the App Store, ParaSwap iOS mobile app is a non-custodial wallet that enables users to store and manage their crypto assets on the go seamlessly. A one-stop shop at user’s fingertips, designed to bring together ParaSwap as an ecosystem, opening users up to a treasury of crypto management tools.
Transak is a global Web3 payment and onboarding infrastructure provider, facilitating 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 reduces the complexities of user KYC, risk monitoring, compliance, payment methods and customer support. Trusted by over 350 leading apps, including MetaMask, Coinbase, and backed by industry leaders like Animoca Brands, Consensys, UOB, KX and more, Transak is making Web3 applications more accessible.
For more information, visit transak.com or follow on x.com/transak
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