Miami, Florida, December 12, 2024, Chainwire
Transak, the global leader in Web3 payments infrastructure, has officially launched Transak Stream, a breakthrough innovation that redefines the crypto-to-fiat off-ramp experience. This new product delivers unparalleled simplicity, converting stablecoins and cryptocurrencies to fiat as seamlessly as sending tokens between wallets.
Imagine this. A user with a Web3 wallet wants to withdraw 1,000 USDC. All they have to do is send the cryptocurrency to their own Transak stream address. Within seconds, the equivalent legal amount will be credited to your bank account or card. No need to place orders, open additional apps or widgets.
Click here to see Transak Stream in action
Such a smooth, hassle-free process transforms the off-ramp experience, making it incredibly user-friendly while also giving wallet partners and platforms a competitive advantage: increased user retention, higher conversion rates, and more. Provide.
“Our goal was simple but ambitious: to make using cryptocurrencies as intuitive as cash. Transak Stream is a huge leap in that direction. It will be as natural as everyday payments,” said Sami Sturt, CEO of Transac.
The future of off-ramp: instant cashout in one step
Transak Stream revolutionizes the off-ramp process by reducing it to one step.
1. Send stablecoins or cryptocurrencies: Users simply send their assets to their own Transak Stream address.
2. Instant Fiat (BIT:) Payment: The fiat amount is instantly deposited into your linked bank account (SEPA, FASTER) or card (Visa/Mastercard).
This innovative approach streamlines the traditionally cumbersome multi-step off-ramp process. Transactions that once took more than five minutes can now be completed in seconds, making it easier to integrate stablecoins and cryptocurrencies into real-world financial use cases. In live testing, Transak compared a standard off-ramp to the new Transak Stream. The results were amazing. The standard process takes about 4 minutes, but Stream allows you to cash out in just 19 seconds.
“Transak Stream bridges the gap between crypto and fiat by delivering the simplicity that users deserve and the compliance that businesses demand,” said Yeshu Agarwal, Co-Founder and CTO of Transak. . “With stablecoins like Visa (NYSE:) Direct and USDC at its core, we are building an ecosystem where cryptocurrencies can be used as easily as traditional money.”
Endless use cases for Web3: Transforming payments, payroll, and more
The technological innovation behind Transak Stream is one of the largest in the industry for consumer-level cryptocurrency accessibility. This new product enables use cases such as remittances, payroll, and gaming by enabling near-instantaneous conversions. Global remittances: Migrant workers can send stablecoins to their families, and the funds are seamlessly deposited into local bank accounts as fiat, eliminating traditional remittance fees. Payroll Automation: Businesses can pay employees around the world in stablecoins, which are automatically converted to local fiat currencies for instant access. Instant payments for freelancers and creators: When you earn with Freelancer Stablecoin, you can access your fiat earnings within minutes and spend or save them right away. Bank-enabled crypto off-ramps: Integrate Transak Stream to offer your customers direct crypto-to-fiat conversion within their existing banking apps, creating a seamless flow. AI-driven financial automation: Apps can leverage AI-powered tools to automate financial flows. For example, a task management app can see completed milestones and trigger automatic fiat payments using Transak Stream. Web3 Gaming: Enables seamless in-game asset payments directly to players' bank accounts in seconds. Recurring payments: From lending to staking, you can get them on a regular basis. Make payments directly to your bank or card.
Main features of Transak Stream
Whether you're a freelancer converting your earnings into cash, a business automating payments, or a developer integrating the next generation of financial flows, Transak Stream sets new benchmarks for speed, accessibility, and global reach. One-Click, Crypto-To-Cash: Users send crypto to their unique Transak Stream address and within seconds fiat is deposited directly into their bank account or card. Global Reach: Transak Stream is powered by Visa and Mastercard. (NYSE:) and all localized banking provider networks (SEPA, FASTER, and more coming soon), enable real-time payments in over 145 countries and give users instant access to their funds. Masu. Broad asset compatibility: Supports 40+ popular cryptocurrencies and stablecoins like USDC, USDT, BTC, ETH, and SOL across 29+ major blockchain networks. Designed for developers: Partners just need to pass. Five required query parameters and app stream enablement are also available with a robust API and fully customizable features that allow the platform to integrate one-click off-ramps to enhance user retention and engagement. Fastest Off-Ramp in the Industry: Innovation with Transak Stream Wallet Introduction One-click off-ramp for users, making it the fastest and easiest way to turn your crypto into cash. Sending is the new selling point: Send cryptocurrencies to Transak from any wallet. Stream address to off-ramp within 1 minute.
Building on proven success
Transak Stream builds on the success of Transak's existing off-ramp solution, which processed more than $50 million across more than 100,000 transactions worldwide in 2024 alone. Across all its products, Transak has processed more than $1.4 billion in transactions for more than 8 million users worldwide.
“Our goal with Transak Stream is to create a future where cryptocurrencies flow seamlessly into the real-world financial system,” Agarwal added. “Visa Direct and Circle enable secure, scalable and compliant transactions across borders and are essential to making this vision a reality.”
Visit Transak.com/integrate-stream to get Transak Stream for your app
About Transac
Transak is the world's largest and most compliant Web3 payments infrastructure provider, serving more than 8 million users in 160 countries. Powers 350+ platforms to facilitate the purchase and sale of digital assets with API-driven fiat on/off ramps, NFT checkout, and other solutions that simplify KYC, compliance, payment methods, and customer support .
Headquartered in Miami, USA and incorporated in Delaware, Transak has a technology hub in Bangalore and offices in London, Milan, Dubai and Hong Kong.
For more information, visit https://transak.com/ or follow us at x.com/transak and linkedin.com/company/transak.
Contact Harshit GangwarHarshit.Gangwar@transak.com
This article was originally published on Chainwire
