- PancakeSwap now allows users to purchase crypto with debit cards, Google Pay, Apple Pay and other methods using Transak.
- Transak to be available nine different cryptocurrencies across seven different blockchain networks to PancakeSwap users.
- Transak is the third provider to be added on the DEX after Mercuryo and MoonPay.
Decentralised exchange Pancakeswap has now offered Transak as a provider giving the users an additional option when shopping for the crypto tokens of their choice according to an announcement on September 21.
Mercuryo and MoonPay were previously providers for this feature, making Transak the third provider to be added.
Pancakeswap integration with Transak
Pancakeswap has integrated Transak as a provider in its “buy crypto” tab which aims at providing users with a seamless and convenient way to purchase cryptocurrencies using fiat currencies. Transak claims to be integrated into over 350 Web3 apps, making it one of the most accessible crypto onboarding services.
Pancakeswap’s users can now make purchases using a wide range of payment methods that include but not least to credit cards, bank transfers, Google Pay, and Apple Pay.
Pancakeswap as a multichain decentralized exchange (DEX), its availability is in different blockchain networks that include BNB Smart Chain, Ethereum, Base and Polygon zkEVM.
The total value locked on Pancakeswap is over $1.3 billion and does over $150 billion in transaction volume per day, according to data from crypto analytics platform DefiLlama.
According to the announcement, Pancakeswap said Transak is now available across nine cryptocurrencies on seven blockchains at launch. Some of the supported chains include Ethereum, Polygon zkEVM, zkSync Era, Linea, Base, BNB Chain, and Arbitrum.
PancakeSwap’s pseudonymous leader, head chef Mochi, stated that the integration will help make decentralized finance protocols easier to use. He said;
“Collaborating with Transak exemplifies our commitment to user empowerment and innovation. As the crypto landscape broadens, it’s imperative that entry points remain simple yet robust. Transak’s expertise in fiat on-ramping, combined with PancakeSwap’s platform capabilities, promises an era where diving into decentralized finance is intuitive and barrier-free for all.”
Acknowledging the partnership, co-founder and CTO of Transak Yeshu Agarwal said:
“As we develop this partnership, we’re not just celebrating a collaboration but championing a shared vision. A vision where cryptocurrency is not an outlier but an integral part of everyday finance. With PancakeSwap by our side, we’re turning that vision into reality.”
With this integration, the Pancakeswap users are to enjoy a wide range of benefits that include;
- Easy Purchase of Cryptocurrencies as this will be done directly from the platform using their preferred fiat currency, eliminating the need for multiple transactions across different platform.
- Wide Range of Supported Currencies and Regions. The providers, Mercuryo, Moonpay and now Transak, support various fiat currencies, ensuring users from various regions can actively participate in the ever-expanding crypto market.
- Multiple Payment Methods. The platform supports various payment methods, such as credit/debit cards and bank transfers, providing users with great flexibility and convenience to complete transactions in a way that suits their preferences.
- Secure and Compliant. The providers, who are now partners, stringent security standards and comply with all applicable regulations, prioritizing protecting user data and ensuring that transactions are carried out in a secure environment.
- Transparent Fee Structure. The platform maintains a transparent fee structure with no hidden charges. Users will have complete visibility of the exact amount they will be charged before finalizing their purchases, ensuring a fair and informed transaction process.
