2020 has been an exciting year for Transak.

In this year we:

• Graduated from the Consensys Tachyon accelerator program
• Released our product at ETH Denver
• Gained traction and grew our volumes into the millions per month
• Raised our seed round
• Expanded the team from just 2 founders to 10 people
• Partnered with the largest blockchain apps, such as Metamask and Aave

We send our sincere appreciation to all of the partners who integrated Transak, all of the customers who on-ramped from fiat to crypto, and all of our investors and community who have supported us. It’s a cliche, but — we wouldn’t be here without you guys, so thank you.

There was a clear gap in the market for end-users who wanted to buy crypto directly to their wallet, in order to use blockchain applications, which was not served by the bottlenecked UI of major exchanges. The need for a fiat gateway that delivers crypto directly to a wallet with fast processing time has been proven by tens of thousands of completed orders. The demand for a high conversion fiat gateway integration for blockchain applications with a simple developer experience and powerful API parameters has been proven by integrations from top apps such as Metamask, and Aave, and over 60 others.

We are at the start of an exciting growth period in 2021 where decentralized applications, and Transak, go mainstream and find their place in the everyday lives of people around the world. We look forward to continuing to support old and new partners and customers with delightful on/off ramp experiences.

Volume and User Metrics Grew Exponentially

Transak experienced rapid growth in volumes this year. A surge in July came from a successful partnership in selling ERD, followed by a yield-farming craze when gas prices soared. From August we started to see some sustainable volumes coming from a range of sources such as Metamask and Polymarket. As of writing, we are expecting our volumes to more than double for January 2021 from December 2020.

Most of our volume came from GBP, since this is where we started our product and we have the highest limits and quickest processing times there. Transak launched access to customers in the USA as well as payments with credit and debit cards. We released our SEPA payment method in 26 countries in Europe and also transitioned from peer-to-peer on-ramps to a direct brokerage model in India after the Supreme Court ruled against the ban on cryptocurrencies in March.

Transak shipped a unique fiat-to-any-ERC-20 functionality

We integrated with DEXs and other crypto-to-crypto exchanges to support any ERC-20 token (yes, any!) as well as 100s of other assets. This allowed our partner Aave to on-ramp their customers directly to a-tokens in their wallet from fiat using Transak. We also shipped a native integration into Matic network, so that customers can on-ramp directly into layer 2, and bypass layer 1 gas fees and mining times altogether! A huge win for our partner Polymarket, who uses Transak and Matic to provide a world-class user experience.

Average processing time for orders was under 8 minutes across all payment methods from clicking the first button, doing KYC, and receiving crypto in the wallet (apart from EUR SEPA payments which have an average time of 23 hours, since the SEPA payment network doesn’t settle outside of weekdays or working hours). We expect SEPA times to be greatly improved by SEPA Instant in Q1 2021.

We raised our seed round

Transak graduated from the Tachyon accelerator (by Consensys) and we then raised our seed round, with investment from IOSG, Lunex, Blockrock, The LAO, Koji Capital, and angels Suji Yan (CEO of Maskbook) and Li Gong (Partner at Youbi Capital), and follow on investment from Consensys.

We Grew our Team to 10 People

In 2020 we grew our team to 2 Customer Support & Operations, 4 Software Engineers, 1 Compliance Officer, 1 Head of Growth, and 2 Founders. We have assembled an incredibly strong core team that is building our product and growth at an ever-increasing rate. I’m inspired to work with these people and feel confident that we can do great things together in 2021. We plan to grow our team to more than 50 people in 2021, and you can see our careers page for our open positions.

In 2021 is for Scaling and Exploring Decentralised Finance

In 2021 we plan to expand to more fiat payment methods, integrate with more blockchains and protocols, refine and scale our core processing engine, as well as explore new markets that are built on top of fiat-to-crypto payments. We look forward to growing collaboratively with others in the industry, as well as forging partnerships in industries outside of the crypto world, in order to take decentralised finance, and Transak mainstream.

Roadmap

• Off-ramp (already in beta)
• Improved conversion rates for card payments (currently testing)
• Interac payment system (Canada)
• ACH payments (USA)
• Direct integrations for more blockchain and layer 2 protocols
• Gas optimization
• South-East Asia coverage
• Improvements to partner dashboard, including increased analytics and self-serve for account parameters and pay-out

Connect with us

• You can buy/sell crypto at http://global.transak.com/
• Integrate Transak into your application. We are partnering on a daily basis with the most ambitious projects in crypto. Get in touch with us sales@transak.com or sign up at https://dashboard.transak.com/
• Join us on Discord, Telegram, or Twitter
• We’re hiring! Find out more at http://careers.transak.com/

Transak supports on-ramp to Matic layer 2 sidechain in collaboration with Wyre

You can now buy tokens on the Matic layer 2 sidechain directly with fiat bank transfer or card payment. This is huge because:

• There are zero gas fees!
• Transaction settlement is instant after the fiat payment is complete.
• You have access to awesome applications built on top of the Matic Network.

Some examples of apps you can use on the Matic network with Transak are Polymarket, Decentraland, and Matic Wallet.

The supported tokens on Matic so far are: MATIC, USDC, DAI, USDT, and MANA.

Why we chose Matic Layer2 for our direct onramps

Matic has been getting phenomenal adoption since its mainnet went live in Beta. Currently, we believe that it is one of the fastest-growing Dapp platforms just by judging the amount of requests we have from the Dapps to provide direct onramps to Matic Layer2. We believe that Matic is one of the front runners in the Layer2 race has a good chance to solve some of the scalability woes of Ethereum

Partnership with Wyre

Transak has partnered with Wyre, who is powering card payments in countries all over the world. Wyre is a leading fiat infrastructure provider in crypto. Wyre has an established network of relationships with leading banks and exchanges. Using Wyre’s API, Transak has added credit and debit card payments in over 60 countries.

How it works

Transak integrates fiat payment methods from around the world such as bank transfers in the UK, Europe and India, and card payments in over 60 countries. It has a direct interface with Matic Network to send tokens on layer 2 with zero gas fees to your wallet.

Users can then use apps in the Matic ecosystem. For the full list of apps, see here: https://matic.network/dapps

Guide to on-ramping to Matic Layer2

You will need a Matic wallet for this (you can use your existing Ethereum wallet) — get set up at https://wallet.matic.network/. Now head to https://global.transak.com, change your cryptocurrency, and change the network to ‘MATIC NETWORK’.

Now, when you follow the steps to buy on Transak, the crypto will be delivered directly on the Matic sidechain to your wallet.

How to integrate with Transak

You can easily integrate Transak by copying and pasting the code for the widget into your application. There are many parameters to configure properties such as, styling, wallet address, default currency, and more. Find the widget docs here: http://integrate.transak.com/

Developers who want to build their own UI can use the backend API. Find the docs here: https://transak.stoplight.io/

How to integrate with Matic

Integrating with Matic is as simple as repointing your RPC to the Matic Mainnet.

Developers can deploy their existing Ethereum apps on Matic in under 15 minutes thanks to 100% EVM Compatibility. We often say, if you’re an Ethereum Developer, you’re already a Matic Developer!

Follow the instructions here: https://docs.matic.network/docs/develop/getting-started

“This announcement comes at a time when gas fees on the Ethereum main net have gotten out of control. We are proud to help users get into the Matic side-chain, to allow access to blockchain for less fees, faster loading times, and with the same level of security and decentralisation.”. — Sami Start, Transak Co-Founder and CEO

“Transak, being an aggregator of on-ramp providers, offers a wide geographical coverage, easy to integrate on-ramping solution to the application developers. Onramp solutions are very important to attract mainstream users to blockchain platforms and we believe Transak has a very important role to play in that. I am happy for many Dapps building on Matic to finally be accessible with fiat”. — Sandeep Nailwal, Matic Co-Founder and COO

“By providing the underlying infrastructure for compliance/kycaml and traditional web2 payments, Wyre is glad to support this collaborative effort for fiat to layer2. Transak and Matic have done a great contribution here to the industry, many hands truly make light work!” said Jack Jia, VP of Business at Wyre.

About Transak

Transak is a developer integration for a fiat-to-crypto payment gateway. It does this by integrating local compliance, payment methods, and liquidity from around the world. Transak is backed by Consensys, The LAO, Lunex, and Koji Capital.

About Matic

Matic Network is a Layer 2 scaling solution backed by Binance and Coinbase that is providing a generalized Layer 2 platform, enabling Ethereum developers to scale their DApps for large-scale usage. For the initial phase, we have launched our hybrid PoS+Plasma sidechain on top of Ethereum which is already gaining huge traction — making Matic one of the fastest-growing DApp platforms in the space.

About Wyre

Wyre is a regulated payment institution that connects fiat payment rails to blockchain ecosystems. Founded in 2013, Wyre has traded $5+ billion in cryptocurrency assets to date. Operating an intricate global payment infrastructure that includes relationships with regulated counterparties, Wyre has procured not only same-day settlements but deep liquidity at best pricing & execution. Wyre is also one of the few US-licensed money transmitters in the crypto space and is proactively compliant with regulations. Today, over 500 applications spread across the world trust Wyre with their global fiat & crypto operations. For more information, please visit www.sendwyre.com.

Yesterday, Aave announced a few exciting new features on their app. One of them was the ability to deposit fiat and get aTokens directly in your wallet in one step, via Transak. We wanted to dig in a bit more about why this is so important for DeFi.

The Problem We Are Solving

Not so long ago, the journey for getting into a yield earning token was long and treacherous. It looked something like this:

The user has to go through 3 separate steps in order to get a yield-earning token in their wallet. This not only takes time and effort — it also costs. Every step the user takes, they are paying fees and spreads.

The Solution

You can now deposit fiat with Transak in 32 different countries and get yield-earning tokens in your wallet in 1 step. All of this and only 0.5% commission for bank transfer payments.

How it Works

Transak has it’s own smart contracts and when you deposit fiat it automatically mints yield-earning tokens and delivers them directly to your wallet. We take all the complexity of what’s going on and make it simple for the user — fiat in -> result out.

How to integrate Transak into your application

You can integrate the Transak fiat <-> crypto payment gateway into your app too, just like Aave. To get started follow these steps:

• check out our API and widget integration docs: https://www.notion.so/transak/Integrate-Transak-f43cbb5dc7fa4d068a044ef9589879bf
• create a partner account and get an API key: https://dashboard.transak.com/
• if you have any technical questions then you can ask on our Discord server: https://discord.gg/FVNKSWz

About Transak

Transak is a developer integration for a fiat-to-crypto payment gateway. It does this by aggregating local compliance, payment methods, and liquidity from around the world. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

Sia is launching SiaStream — a new application to store media in the cloud at the lowest costs and stream it from apps like Plex or Kodi. SiaStream leverages the Sia data storage marketplace to provide fast streaming and ultimate control & privacy.

Similar to Sia, SiaStream is powered by Siacoin (SC). Currently, there is a broad range of crypto exchanges where you can purchase SC. However, most of them require you to go through KYC (Know Your Customer) checks and can end up taking a few days for your account to be verified. Even after your account is set up, there is a wait time involved to transfer funds and might require an intermediary step of buying Bitcoin to then convert to Siacoin.

Sia needed a way for mainstream users, who don’t necessarily understand blockchain and crypto, to get started with SiaStream in the easiest manner possible. We are excited to announce that Sia is using Transak to onboard users with fiat so that they do not need to own SC or go to a 3rd-party platform to buy it.

With Transak integration, customers can use SiaStream directly with fiat using a range of payment methods in 32 different currencies over 14 different fiat currencies (see details here: https://www.notion.so/transak/Coverage-Payment-Methods-Fees-30c0954fbdf04beca68622d9734c59f9). Transak uses smart contract technology to connect local on-ramps and fiat payment methods with liquidity for Siacoin.

App Developers

App developers who want to integrate the Transak fiat < > crypto payment gateway can get started with the following resources:

• Learn more at http://transak.com/
• Get an API key and developer account at http://dashboard.transak.com/
• Read the documentation at https://www.notion.so/transak/Integrate-Transak-f43cbb5dc7fa4d068a044ef9589879bf

Using Transak to Buy Siacoin

Step 1: Choose fiat payment method and amount

Transak supports card payments and bank transfers. See more details of supported payment methods here: https://www.notion.so/transak/Coverage-Payment-Methods-Fees-30c0954fbdf04beca68622d9734c59f9

Step 2: Create order

You sign in with your email address and receive a one-time password. Some users may need to fill out KYC if they are doing bank transfer methods or buying large amounts. KYC is approved instantly by the Transak systems.

Step 3: Pay

Payments are usually instantaneous, although it can take up to 2 days for EUR SEPA payments.

Step 4: Receive SiaCoin

That’s it! SiaCoin will be delivered instantly to your wallet as soon as you have paid. You can then get started with using the Sia ecosystem.

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Quote from Manasi Vora, Head of Product Strategy at Sia

“We are always working hard to reduce frictions for both our developers and end-users and to provide a seamless experience interacting with the Sia network. Transak integration helps us advance our mission with SiaStream of bringing a decentralized application to mainstream users and onboarding them to the Crypto and Sia ecosystem.”

About Transak

Transak is a developer integration for a fiat-to-crypto payment gateway. It does this by aggregating local compliance, payment methods, and liquidity from around the world. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

About Sia

Sia is the leading decentralized cloud storage platform. No signups, no servers, no trusted third parties. Sia leverages blockchain technology to create a data storage marketplace that is more robust and more affordable than traditional cloud storage providers.

Today we’re excited to announce that through a partnership between Wyre and Transak.

Users from Australia 🇦🇺 , Austria 🇦🇹 , Belgium 🇧🇪 , Canada 🇨🇦 , Cyprus 🇨🇾 , Czech Republic 🇨🇿 , Denmark 🇩🇰 , Estonia 🇪🇪 , Finland 🇫🇮 , France 🇫🇷 , Germany 🇩🇪 , Greece 🇬🇷 , Hong Kong 🇭🇰 , Ireland 🇮🇪 , Italy 🇮🇹 , Latvia 🇱🇻 , Luxembourg 🇱🇺 , Malta 🇲🇹 , Mexico 🇲🇽 , Netherlands 🇳🇱 , New Zealand 🇳🇿 , Norway 🇳🇴 , Poland 🇵🇱 , Portugal 🇵🇹 , Slovakia 🇸🇰 , Slovenia 🇸🇮 , Spain 🇪🇸 , Sweden 🇸🇪 , Switzerland 🇨🇭 , United Kingdom 🇬🇧 & the United States of America 🇺🇸 can now use Debit Card to purchase 300+ Cryptocurrencies.

Before Transak’s integration with Wyre, if a US user wanted to acquire a more obscure cryptocurrency, such as a Token Set or Decred, they had to jump through numerous hurdles. First, they had to register with a centralized exchange providing sensitive personal information such as a valid driver license and SSN. Next, if that exchange didn’t have the token they wanted, they then had to ship it off to another exchange that did or to a wallet that could work with a DEX. Now, this inconvenient process is performed in a few minutes with just a few clicks and without the invasive KYC process.

Now, we are live in 32 countries, supporting 14 fiat currencies & 300+ cryptocurrencies. You can learn more about our coverage, payment methods and fee using below link:-

Coverage, Payment Methods & Fees

How it works

Users will head to https://global.transak.com/ enter the total amount, type of cryptocurrency they want to purchase, and an address where the cryptocurrency is sent.

Transak uses smart contracts to connect the end-user to liquidity on centralized and decentralized exchanges.

Users will have to input simple KYC information, but the process from start to finish will take less than 5 minutes.

📖 Story

Transak got to know Wyre through meeting at Stanford Blockchain Week 2020. Transak Co-founders Sami and Yeshu met and chatted for hours with Jack Jia, who is Head of Partnerships at Wyre. Transak and Wyre connected over a shared mission to move the DeFi space forward with easy onboarding from fiat.

Wyre has been working hard over the last few years to enable developers and companies in the crypto space easy fiat on/off-ramping. Wyre works with just a handful of cryptocurrencies, Bitcoin, Ethereum, DAI, USDC, and Liquid Bitcoin (L-BTC). One of the most requested features from Wyre partners and users is the addition of other cryptocurrencies. Earlier this year at ETHDenver, the Totle team created the base of this project with their Hackathon entry called DeFiat. Transak used this as part of their integration with Wyre and powers the conversion of fiat to any ERC20 tokens.

Transak extended this and integrated liquidity from more than 10 different decentralized and centralized crypto-to-crypto exchanges. Liquidity flows from Wyre, through Transak’s easy-to-use UX and production-grade smart contracts. The result is the fastest and easiest way to buy over 200 cryptocurrencies with fiat and can be found here: https://global.transak.com/

Real-world use — buy Token Sets directly with fiat

TokenSets provides a way to invest in an automated asset management strategy through buying a single token — a ‘token set’. The previously accepted way of accessing this is to buy ETH on a 3rd-party exchange and then return to the TokenSets website and buy a set using that ETH.

Now, it is possible for a user to invest in TokenSets in a single step, through a single interface using Transak. This is a step towards making awesome DeFi apps like this accessible to a mainstream audience.

Limits

“We are excited to take this big step forward together with Wyre. The DeFi space needs a UX face-lift in 2020 and fiat-to-crypto onboarding will play a big role in that.”

Quote from Sami Start, Transak Co-Founder and CEO

This is an important step for the industry and a great example of money legos. Wyre is focused on fiat/compliance, Totle is focused on onchain liquidity aggregation, and Transak brings the two together with the best user experience. Excited for this rollout!

Quote from Jack Jia, Head of Partnerships at Wyre

“Transak offers the most user-friendly onboarding mechanism in defi and the broader crypto space. Totle is thrilled to be apart of this effort by extending access to any ERC-20. With the addition of Wyre’s functionality to Transak’s suite of tools, users can now exchange USD directly to any token!”

Quote from David Bleznak, CEO of Totle

About Transak

Transak is a developer integration for a fiat-to-crypto payment gateway. It does this by aggregating local compliance, payment methods, and liquidity from around the world. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

Transak - Fiat on/off ramp aggregator

About Wyre

Wyre is focused on lowering the barriers to entry for fintech entrepreneurs around the world. The central hypothesis is that if we can increase the velocity, we can grow the industry at a pace we haven’t seen before. Crypto companies have a hard time doing business in a fiat world, and it’s our goal to make it as easy as possible.

Transak is proud to announce an integration with Chainlink, the market-leading decentralized oracle network, that will make our fiat/crypto onramp aggregator solution available to smart contracts. Through Chainlink’s external adapter technology, Chainlink nodes can bi-directionally connect decentralized applications directly to Transak’s API, allowing dApps to initiate the buying and selling of crypto using traditional fiat payment gateways. It also allows Transak’s API to trigger on-chain transactions in DeFi protocols. Transak’s API currently supports over 200 cryptocurrencies and fiat payments in 10 fiat currencies in 28 countries.

Bringing Traditional Payment Methods to Smart Contracts

One of the major limitations to smart contracts is their inability to natively access external systems, which prohibits them from interacting with fiat payment gateways. Most of the world uses fiat currency as the predominant method of transferring value, creating a barrier to entry for many potential crypto users.

An oracle is a piece of middleware that connects smart contracts to external systems. Chainlink is a decentralized oracle network that extends the security guarantees of a smart contract, allowing it to take in data and send commands to external systems in a highly secure and reliable manner. This brings end-to-end functionality and security to decentralized applications.

While there are a plethora of new opportunities created by connecting smart contracts to Transak’s crypto/fiat gateways, we have identified three initial use cases that bring immediate value to crypto users and decentralized applications.

Recurring crypto to fiat and fiat to crypto payments

A prime example would be using a service like Sablier to customize a payout schedule, particularly as a recurring payment. This has already gained traction for paying salaries in crypto and can be further extended to situations where the employer wants to pay in crypto but the employee wants to receive fiat, or vice versa. This brings flexibility to payment schedules, allowing both parties to interact with the currency of their choice.

Real-World Examples include: Allowing people to withdraw a percentage of their salary automatically from their crypto wallet to their fiat bank account every month/quarter/or instantly. Similarly, companies can use centralized data, such as from wakatime, to pay developers automatically based on the number of hours they spent on the project

Crypto to fiat payments triggered by on-chain data

An applicable example would be an insurance payout that is triggered by a DeFi dApp such as Nexus Mutual. This allows developers to build DeFi products that trigger settlements, which payout in fiat directly to a user’s traditional bank account using local payment methods. dApps could use this capability to abstract out the end-users interaction with cryptocurrency, meaning they could use an application and reap any rewards without ever needing to learn how to trade cryptocurrency, setup wallets, etc.

Real-World Examples: DeFi protocols can make interest payments in fiat directly to the user’s bank account. Additionally, service providers can be paid in fiat using crypto funds stored in a smart contract, e.g. a DAO paying for office space.

Automated on-chain allocation of funds based on fiat/crypto payments

The idea here is to create a smart contract that automatically allocates a user’s funds into a specific on-chain portfolio immediately upon the fiat purchase of crypto using Transak. For example, the user buys 1000 DAI with fiat, which automatically invests in a portfolio that’s 25% in Idle, 25% in TokenSets, and 50% in DSR. This allows users to automate portfolio management directly through Transak’s fiat/crypto payment gateway, removing tedious work for the end-user.

Real-World Examples: Receiving fiat payments to a smart contract, such as a DAO, and automatically allocating it into a specified crypto portfolio.

There are numerous other use cases that open up for smart contracts by combining the fiat/crypto on-ramps of Transak and the secure and reliable connectivity of Chainlink’s decentralized oracle network.

“This integration is one of those moments when you realize that smart contract technology is not just a theoretical construct used by crypto natives, but it can actually interface with the real world. Through an integration with Chainlink, smart contracts can now use Transak to enable fiat deposits and withdrawals from mainstream users who don’t own or understand crypto, substantially lowering the barrier to entry for larger retail adoption of blockchain applications.

Sami Start, Transak Co-Founder and CEO

About Transak

Transak is an integration for applications to accept fiat-to-crypto deposits and withdrawals from a global user base. It does this by aggregating local compliance, payment methods and liquidity from around the world. The Transak product is a widget or API that can be integrated into an app in just a few lines of code. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

You can use Transak to buy over 200 cryptocurrencies in 28 countries (more coming soon). Check it out here: https://global.transak.com.

To learn more about Transak, visit: https://transak.com/

Applications can integrate their own fiat gateway with Transak here: https://transak.com/integrate

Transak - Fiat on/off ramp aggregator

About Chainlink

If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to us here! We can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or follow us on Twitter or Reddit.

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.

We’re reducing our fees for Transak. Commissions are now:

In this article we will explain why we are reducing fees. We will also provide transparency on exactly how your final price is calculated.

For the latest on our payment methods and fees see here.

Why Transak is reducing fees (and why we’ll keep reducing them)

The problem — in order to use a blockchain application, a user has to go to a 3rd party exchange. Fees on a $200 transaction from a major exchange are currently 1.5%. (At the time of writing) you can earn 3.73% per year a popular DeFi app, Compound. That means it would take you over 5 months of interest just to earn back the commission that you paid on buying the crypto in the first place.

On top of that, if you want to access a token that is not listed against fiat on a major exchange then you have to make 2 transactions, sometimes on 2 different exchanges — one to buy a major cryptocurrency and then another to trade that cryptocurrency for the token of an emerging project.

On top of that, accessibility varies country-by-country.

This goes against the very ethos of crypto — open, global, integrated.

Transparency on our new fee structure

Transak has 0.5% commission on GBP and EUR and a 0.25% commission on INR for bank transfer payment methods. There is a minimum charge that covers costs such as gas fees from DEXs and banking transaction costs. The minimum cost varies as it is calculated dynamically by our backend. We are pushing to reduce the minimum fee over time, which are mostly coming from smart contract gas fees currently. Let’s go through a few examples:

Example 1 – Buying 500 GBP of ETH

0.5% of 500 GBP is 2.50 GBP. This is greater than the minimum fee so there are no other costs.

Example 2 — Buying 150 EUR of ETH

0.5% of 150 EUR is 0.75 EUR. The minimum fee in this case (calculated dynamically) is 1.10 EUR. So Transak selects the greater of the 2, which is 1.10 EUR. This is effectively 0.73% commission.

Example 3— Buying 1,000 INR of ETH

0.25% of 1,000 INR is 5 INR. The minimum fee in this case (calculated dynamically) is 13.41 INR. So Transak selects the greater of the 2, which is 13.41 INR. This is effectively 1.34% commission. As you go for a smaller amount that the percentage commission increases slightly.

Conversion Rates and Slippage

Transak is transparent in its pricing and does not charge additional spreads on top of conversion rates. The conversion rate comes from pricing feeds from major exchanges, OTC desks and DEXs. We are constantly adding new liquidity sources to Transak.

However, sometimes there is some ‘slippage’ on the price. This happens when the price that we fetch for the user’s order is worse than the top of the order book of the exchange with the best price at that moment. This usually happens on less popular cryptocurrencies that have less liquidity. That why we added the ‘Slippage’ indicator. This gives the user a warning if the price is not good.

Even though there is slippage, the Transak price may still be the best you can get. This is because you may have to pay fees and transaction costs on 2 different exchanges as you buy a major cryptocurrency with fiat and then trade the major cryptocurrency on another exchange for the desired cryptocurrency.

Try it!

You can use Transak to buy crypto with 🇪🇺 EUR, 🇬🇧 GBP and 🇮🇳 INR (more coming soon). Check it out here: https://global.transak.com.

Integrate it!
Applications can integrate their own fiat gateway with Transak here: https://transak.com/integrate.

About Transak
Transak is a single integration for applications to accept fiat-to-crypto deposits and withdrawals from a global user base. It does this by aggregating local compliance, payment methods and liquidity from around the world and putting it in a simple integration. The Transak product is a widget or API that can be integrated into an app in just a few lines of code. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

To learn more about Transak, visit: https://transak.com/

But how does it work, you ask? Transak aggregates the best prices from decentralised & centralised exchanges like Binance, Okex, ChangeNow, HitBTC, KuCoin, SwapLap, Houbi, Idex, DeversiFi, Kyber, Bancor, Uniswap, Compound, Fulcrum, PMM, SetProtocol, CurveFi with the help of CoinSwitch & Totle.

We are always working to improve our liquidity sources to provide the best price to our users. So in the coming months we will adding more exchanges to provide the best price to our users.

Apps that integrate Transak can onboard their users without having to send them to third party sites. They also don’t have to integrate multiple on-ramps and DEX protocols. Everything just works out of the box in Transak.

Transak scans the price from the top liquidity sources, reconciles the fiat payment and routes the crypto to the user’s wallet at the best possible price.

Try it!

You can use Transak to buy crypto with 🇪🇺 EUR, 🇬🇧 GBP and 🇮🇳 INR (more coming soon). Check it out here: https://global.transak.com.

Integrate it!
Applications can integrate their own fiat gateway with Transak here: https://transak.com/integrate.

Transak - Fiat on/off ramp aggregator

About Transak
Transak is a single integration for applications to accept fiat-to-crypto deposits and withdrawals from a global user base. It does this by aggregating local compliance, payment methods and liquidity from around the world and putting it in a simple integration. The Transak product is a widget or API that can be integrated into an app in just a few lines of code. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

To learn more about Transak, visit: https://transak.com/

In February 2020 Transak launched its fiat on-ramp integration at ETHDenver. We just so happened to be sitting opposite a team that was hacking a way to connect fiat on-ramps to liquidity outside of the major fiat/crypto pairs. That team was Totle. Totle is a decentralized liquidity aggregator that automatically gets the best pricing available for ERC-20 swaps from Kyber, Bancor, Uniswap, Compound, Fulcrum, PMM, Idle, SetProtocol, CurveFi. They handed their project over to us and we started a new collaboration.

Today we are pleased to unveil our latest feature: Transak now supports direct purchase with fiat of most of the major ERC-20 coins through Totle!

Users can now buy
LINK, MKR, BAT, LEO, HT, PAX, VEN and many more with 🇪🇺 EUR, 🇬🇧 GBP, and 🇮🇳 INR through our widget.

Apps can integrate the Transak widget or API here.

We also added a handy tool: users can now check the prices on Transak by using the ‘Slippage’ tool. The ‘Slippage’ tells you the price of buying that token on Transak versus the best price across all other exchanges.

Try it!

You can use Transak to buy crypto with 🇪🇺 EUR, 🇬🇧 GBP and 🇮🇳 INR (more coming soon). Check it out here: https://global.transak.com.

Integrate it!
Applications can integrate their own fiat gateway with Transak here: https://transak.com/integrate.

About Transak
Transak is a single integration for applications to accept fiat-to-crypto deposits and withdrawals from a global user base. It does this by aggregating local compliance, payment methods and liquidity from around the world and putting it in a simple integration. The Transak product is a widget or API that can be integrated into an app in just a few lines of code. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

To learn more about Transak, visit: https://transak.com/

The Single Euro Payments Area (SEPA) covers Austria 🇦🇹, Belgium 🇧🇪, Cyprus 🇨🇾, Czechia 🇨🇿, Estonia 🇪🇪, Finland 🇫🇮, France 🇫🇷, Germany 🇩🇪, Greece 🇬🇷, Ireland 🇮🇪, Italy 🇮🇹, Latvia 🇱🇻, Luxembourg 🇱🇺, Malta 🇲🇹, Netherlands 🇳🇱, Portugal 🇵🇹, Slovakia 🇸🇰, Slovenia 🇸🇮, Spain 🇪🇸

This marks a big step for us in expanding our geographical coverage. Transak can now be used for local payment methods for GBP 🇬🇧, EUR 🇪🇺 , and INR 🇮🇳. Partners of Transak who use our widget will now be able to offer Transak’s services to their users in 21 countries.

Fees:
The fee is 1% & min €1 fee + network fee.

Limits:
The limits are €3000 per transfer and €15,000 per day.

Processing Time:
EUR SEPA transfers take 5 min to 2 days. GBP and INR transfers remain instant.

We also have some more exciting announcements coming up soon so keep posted on our Twitter and Telegram.

Try it!

You can use Transak to buy crypto with INR (and other fiat currencies)!
Check it out here: https://global.transak.com.

Integrate it!
Applications can get their own fiat gateway within 5 minutes! Get Started with Transak here:

Transak - Fiat on/off ramp aggregator

About Transak
Transak is a single integration for applications to accept fiat-to-crypto deposits and withdrawals from a global user base. It does this by aggregating local compliance, payment methods and liquidity from around the world and putting it in a simple integration. The Transak product is a widget or API that can be integrated into an app in just a few lines of code. Transak is backed by Consensys and graduated from the Tachyon accelerator program.

To learn more about Transak, visit: https://transak.com/

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