Hassan Maishera
Transak, the leading Web3 payments infrastructure provider, announced on Thursday, December 5th, that it has integrated with Phantom, one of the fastest-growing non-custodial wallets in the crypto ecosystem.
In a press release shared with Cryptowisser, Transak said the partnership, enabled by Meld, a global on-ramp and off-ramp orchestration platform, marks a significant step forward in making digital assets more accessible and user-friendly for a global audience.
Phantom’s Outstanding Growth
Phantom continues to dominate the non-custodial wallet market, boasting millions of users across 100+ countries and ranking among the top apps, ahead of Instagram, WhatsApp, TikTok, and others on the Apple App Store in November 2024.
The wallet was initially built for the Solana blockchain but has expanded its support to include Ethereum, Polygon, and Bitcoin, driving its multi-chain adoption.
Integration Driving Explosive Growth
The integration of Transak with Phantom Wallet has recorded an immediate and transformative impact. In a tweet by Transak, Solana (SOL) transactions on Transak have surged by 400% within just seven weeks, demonstrating the immense popularity of this partnership.
This massive growth indicates the combined value of Phantom’s usability and Transak’s streamlined payment infrastructure for users in the Solana ecosystem.
Key Features of the Integration
1. High Transaction Limits Globally
This integration is available for Transak users worldwide and introduces unparalleled flexibility.
-
UK and EU users can purchase up to $75,000 per transaction, significantly enhancing their crypto buying experience.
-
Users from the US and other global regions benefit from expanded payment options and increased purchase limits, making Web3 more accessible than ever.
2. Diverse Payment Methods
With over 20+ local and global payment options, including bank transfers, credit cards, and other popular methods, this partnership caters to a wide range of user preferences, ensuring a smooth fiat-to-crypto experience.
3. User-Friendly Onboarding
Transak’s multi-level KYC process enables new users to start with minimal information, such as a name and email, while maintaining robust compliance standards.
Phantom And The Solana Ecosystem
Phantom’s integration with Transak further enhances its dominance within the Solana ecosystem. In the weeks following the launch, SOL purchases through Transak on Phantom surged 4x, accounting for 75% of Transak’s Solana volume.
Empowering Global Web3 Access
The partnership between the two entities simplifies crypto adoption for users globally, especially in growing markets like DeFi, NFTs, and meme coins.
While commenting on the partnership, Sami Start, CEO of Transak, said,
“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.”
Transak is the world's most compliant and largest Web3 payments infrastructure provider, serving over 8 million users across 160 countries. It powers 350+ platforms, facilitating the purchase and sale of digital assets with its API-driven fiat-crypto on/off-ramp, NFT checkout, and other solutions that simplify KYC, compliance, payment methods, and customer support.
Headquartered in Miami, US, and incorporated in Delaware, Transak has a tech hub in Bengaluru and offices in London, Milan, Dubai, and Hong Kong.
