Transak

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Frequently asked questions

What is Transak?

Transak is a platform that aims to solve the onboarding process for web3 applications by enabling users to easily transition between fiat currency and cryptocurrencies. It was founded in 2019 by Sami Start and Yeshu Agarwal. Transak's On-Ramp solution, launched in February 2020, allows web3 developers to onboard users with fiat currency from over 150 countries to more than 160 cryptocurrencies across 75+ blockchains. The platform is trusted by leading web3 applications such as MetaMask, Coinbase Wallet, Splinterlands, and AAVE. Transak offers easy and quick integration through its SDKs, a white label API for customization, and a partner dashboard for managing accounts. It provides liquidity from multiple exchanges, supports global payment methods, and has a robust risk engine with a low fraud rate. Transak is compliant with FCA authorization in the UK and MSB in the USA. In addition to its On-Ramp solution, Transak has expanded its product line to include an Off-Ramp solution for crypto-to-fiat transactions, Transak One for fiat-to-smart-contract operations, and a fiat-to-NFT checkout solution. Transak charges a 1% fee per transaction, and partners have the option to apply their own fee.

How many cryptocurrencies does Transak support?

Transak supports over 170 cryptocurrencies on 75+ blockchains.

In how many countries are Transak's payment methods available?

Transak's payment methods are available in 155 countries.

What authorization does Transak have in the UK?

Transak is FCA Authorised in the UK, which means it has authorization from the Financial Conduct Authority to operate in the country.

What authorization does Transak have in the USA?

Transak is authorized as a Money Services Business (MSB) in the USA.

What is the purpose of Transak's SDK?

The purpose of Transak's SDK is to provide a highly customizable, secure, and self-serve toolkit for developers to integrate the ability for users to buy or sell cryptocurrencies directly within their app, website, or web plugin. The SDK allows users to onboard from over 150 countries to more than 160 cryptocurrencies across 75+ blockchains using various payment methods such as cards and bank transfers. It also enables developers to interact with dApp protocol smart contracts on behalf of the user, allowing them to seamlessly interact with the dApp via their wallet. Transak's SDK can be integrated into any website or app and supports use cases such as DeFi apps, cryptogames, NFT dApps, and DEXes.

Which popular web3 applications use Transak?

The popular web3 applications that use Transak include MetaMask, Coinbase Wallet, Splinterlands, and AAVE.