Transak, a single integration for applications to accept fiat-to-crypto deposits from a global user base, today announces the availability of local payment methods for Thailand users. This service is now available within the Transak widget giving users the chance to buy crypto via debit/credit cards, Bangkok Bank iPay and Mobile Banking and SCB Easy Pay and Mobile Banking.
As crypto and dApps become more and more popular in Southeast Asian (SEA) Region, Transak saw a need to ease crypto onboarding and has added these local payment methods. Thailand is among one of the first countries in SEA to enact cryptocurrency legislations, regulate the offering of digital assets and open its doors to crypto-related businesses. This accessibility will allow Thai users to onboard from fiat to crypto efficiently with reduced fees.
“Transak has reached a point in its evolution where expansion to new regions such as Southeast Asia are inevitable. We are committed to creating opportunities for new audiences to be able to onboard from fiat to crypto intuitively and will continue this mission as a part of our roadmap,” said Sami Start, CEO, Transak. “As NFTs and crypto gaming continue to rise in popularity our team saw that this was the right time for us to provide our services.”
“With our ever growing penetration in Southeast Asia, this was a much requested ask from our partners,” said Sharad Agarwal, Head of Product, Transak. “We are very excited that our Thai users can now transact in the payment instrument of choice and be instrumental in the adoption of Web3 technology across the region.”
Transak has plans to ease Web3 onboarding for more regions in 2022 and is actively working on adding more local payment methods for its supported countries to make this a reality.