Transak, a leading provider of Web3 payments infrastructure, on December 03 announced its integration with Phantom, one of the fastest-growing non-custodial wallets in the cryptocurrency ecosystem. The integration, facilitated by Meld, a global on-ramp and off-ramp orchestration platform, represents a monumental leap in making digital assets usable efficiently and easily across the globe.
Phantom has become one of the best-performing wallets, currently serving millions of users across more than 100 countries. In November 2024, it outperformed app giants, such as Instagram, WhatsApp, and TikTok, proving the app’s popularity. Originally developed for the Solana ecosystem, Phantom has since introduced support for Ethereum, Polygon and Bitcoin and has spurred multi-chain usage.
The integration of Transak with Phantom Wallet has already delivered transformative results. As per Transak, Solana (SOL) transactions have risen by a staggering 400% only within just seven weeks of the partnership’s launch. Since the company started the partnership, underscored its success in streamlining payments for Solana users and beyond.
Users of Transak from across the world can now enjoy higher transaction limits.
Customers from the UK and EU are allowed to make purchases of up to $75,000 per transaction, while those in the US and other parts of the world can access multiple payment options which helps in accessing digital currencies.
The integration encompasses more than 20 local and international payment methods, including bank transfers and credit cards allowing the users a seamless fiat-to-crypto experience for users with diverse preferences.
Transak’s multi-tiered Know Your Customer (KYC) process allows users to begin transactions with minimal information, such as name and email while maintaining high compliance standards.
Phantom remains a prominent Solana wallet, and the integration of Transak cements the project even more into Solana’s ecosystem. In the weeks after the partnership, four times more SOL was bought through Phantom on Transak, out of which 75% of the Solana volume was transacted through Transak.
The collaboration aims to simplify cryptocurrency adoption across markets including DeFi, NFTs, as well as meme coins. Whether users are purchasing assets like BONK or the latest blockchain solutions, the combined offerings of Transak and Phantom solutions provide access to its localized payment methods and friendly interfaces.
“Transak’s integration with Phantom represents a major step forward in empowering global users to engage effortlessly with digital assets,” said Sami Start, CEO of Transak. “This partnership underscores our mission to enhance financial freedom through innovative payment solutions.”
Transak currently has over 8 million users operates across the globe in over 160 countries, and aims to be the premier Web3 payments provider. Its platform hosts over 350 applications, offering fiat-to-crypto on and off ramps, NFT checkouts, and solutions such as KYC/ AML, payments and customer support.