Transak claims that South East Asian users of Coinbase’s self-custody wallet can now utilise the Web3 onboarding platform “as a fiat on-ramp to acquire bitcoin.” The Coinbase wallet integration by Transak comes as more customers “understand the value of keeping their money safe, secure, and in their hands.”
Getting Past Obstacles to Non-Custodial Wallets
According to Transak, a Web3 onboarding infrastructure provider, Coinbase wallet users can now utilise their platform “as a fiat on-ramp to buy bitcoin.” In Southeast Asian nations like Thailand and the Philippines, the integration “simplifies [the] onboarding” of users, according to a statement.
According to a Nov. 29 release, Transak reportedly just added local payment options that allow users in the two nations to get around restrictions on non-custodial wallets. This was followed by the revelation of the Coinbase wallet integration.
Users can now purchase cryptocurrency on Transak in the Philippines using local payment options like Gcash, Maya, and Grabpay as well as debit and credit cards. In a similar vein, consumers in Thailand can purchase cryptocurrency on Transak using both bank transfers and debit and credit cards.
The Increase in Self-Hosted Wallet Supply
Hassan Ahmed, the regional director for Coinbase in Southeast Asia (SEA), commented on the Coinbase wallet integration with Transak in an effort to draw attention to the growing significance of customers having ownership over their own money. He stated:
SELF-HOSTED WALLETS ARE BECOMING INCREASINGLY POPULAR, PARTICULARLY AS MORE PEOPLE REALISE HOW CRITICAL IT IS TO KEEP THEIR MONEY SAFE, SECURE, AND UNDER THEIR CONTROL. WITH TRANSAK NOW INTEGRATED, COINBASE WALLET’S TOP-NOTCH SECURITY AND USER-FRIENDLINESS MAKE IT EVEN SIMPLER FOR SEA CLIENTS TO ACCESS CRYPTO AND WEB3 WITH CONFIDENCE.
Sami Start, the co-founder and CEO of Transak, claimed that the incorporation of Coinbase into his platform made it “more simple for users to engage.” On the other hand, the availability of regional payment options allows users in these areas to sign up more quickly and pay “lesser transaction fees overall.”