SAN FRANCISCO—Transak, a Web3 payments infrastructure provider, has become the first fiat-to-crypto on-ramp to introduce wire transfers for crypto users in the United States, according to a new report.
“This marks the first time that crypto users in the world’s largest economy will be able to top up their digital asset accounts via wire transfers,” Cointelegraph said.
The report added that providing a familiar and secure payment method like wire transfers could bolster crypto adoption and make it more accessible to the mainstream.
“Wire transfers are one of the most common and trusted methods for transferring funds, and most U.S. users are already comfortable with how the wire transfer system works,” Sami Start, co-founder and CEO of Transak, was quoted as saying. “Adding this familiar and secure payment method to our extensive list of options is a significant step forward in driving crypto adoption.”
‘Could Increase Adoption’
According to the Cointelegraph analysis, “More trusted fiat on-ramps could increase cryptocurrency adoption among mainstream crypto users in the world’s largest economy. The current 560 million crypto users could triple by 2026, according to some experts.”