Transak

Transak is a Web3 payments and onboarding infrastructure provider that allows users to seamlessly transition between traditional finance and crypto assets. Founded in 2019 by Sami Start and Yeshu Agarwal, the company offers a fiat-to-crypto payment gateway that enables businesses to onboard customers across more than 150 countries by facilitating the purchase or sale of crypto assets. Transak abstracts away complexities such as user KYC, risk monitoring, compliance, payment methods, and customer support.

The company's product suite includes On-Ramp and Off-Ramp solutions for fiat-to-crypto and crypto-to-fiat transactions, respectively. It also offers Transak One, a fiat-to-smart-contract solution, and a dedicated fiat-to-NFT checkout. Transak supports over 160 cryptocurrencies across more than 75 blockchains and caters to hundreds of B2B clients across 350 applications, including prominent names like MetaMask, Coinbase Wallet, and AAVE.

Transak is registered as a crypto asset firm with the UK's Financial Conduct Authority (FCA) and recognized as a virtual asset service provider (VASP) in Poland. In May 2023, the company raised USD 20 million in a Series A funding round led by CE Innovation Capital to enhance its global coverage and fortify the development of its onboarding solutions.

Key customers and partnerships

Transak has formed partnerships with several leading Web3 platforms and applications, including MetaMask, Ledger, Trust Wallet, BitYard, Decentraland, Zed.run, Splinterlands, and more. These collaborations enable the seamless expansion of Web3 platforms into new regions by integrating Transak's fiat on-ramp solutions, saving time and resources for development.

In January 2024, Transak joined Visa Direct, allowing users in over 145 countries to convert more than 40 cryptocurrencies, including Bitcoin, Ethereum, and Tether's stablecoin USDT, into local fiat currencies in real-time. This partnership marked a significant milestone in enabling mainstream acceptance and utilization of cryptocurrencies.