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US-based cryptocurrency exchange Coinbase announced recently that its “Coinbase Wallet” will integrate the toolkit Transak into its custody wallet for users to utilize it as a fiat on-ramp to buy crypto. The collaboration aims to ease the user onboarding process of the firm in the Philippines and Thailand.
Coinbase Wallet is the company’s non-custodial app.
“Self-hosted wallets are on the rise, especially as more people become aware of the importance of keeping their assets safe, secure and in their control. Coinbase Wallet, with its world-class security and ease of use, now integrated with Transak makes it even easier for the SEA customers to access crypto and Web3 with peace of mind,” said Hassan Ahmed, Regional Director Southeast Asia at Coinbase.
With Transak’s over 100 partners within its ecosystem, Coinbase will be able to eliminate the complexity of user KYC, risk monitoring & compliance, payment methods and customer support. Transak will also be able to provide API-driven fiat payment methods to on-ramp to 130+ crypto assets.
In line with the initiative, Transak recently announced local payment methods for the Philippines and Thailand which aims to remove barriers to self-custodial wallets such as Coinbase Wallet.
“Transak is aligned with Coinbase Wallet in expanding to new regions globally in order to increase Web3 adoption across the board,” Transak CEO Sami Start stated.
How to Buy Crypto in Coinbase Wallet:
- On Coinbase Wallet, click the BUY option.
- On the Transak widget that will appear, enter the amount to be purchase.
- Choose the payment method.
- Click BUY NOW.
- Fill out the details and proceed to PAY.
In October, Transak partnered with the Philippines’ local fintech firms which now allows users to buy crypto using payment methods like GCash, Maya, or GrabPay. Filipino can also pay through a debit/credit card. (Read more: Transak Merges with Fintech Firms, Banks to Offer Crypto)
In Thailand, users can transact with Transak via bank transfers as well as debit/credit cards.
“With the addition of such local payment methods, users can onboard more efficiently and pay lesser transaction fees overall. We’re glad that we are able to provide this integration to the Coinbase Wallet platform to make it more intuitive for users to participate,” Start added.
Aside from the local integrations, Transak also already collaborated with Metamask, Ledger, Trust Wallet, BitYard, Decentraland, Zed Run, Splinterlands, and other web3 apps.
On the other hand, while Coinbase pushes further into their onboarding efforts, the crypto exchange recently announced that they will delist Ripple’s XRP Ledger (XRP), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM), effective in January 2023.
This article is published on BitPinas: PH Coinbase Wallet Users Can Now Buy Crypto Using GCash, Maya, Grab
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.