Transak Launches a Fiat-to-crypto Onramp for PayPal USD

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Transak has introduced a way for users to convert PayPal USD into crypto through fiat-to-crypto onramp, with the goal of making digital asset payments more mainstream.

On Tuesday, the payment infrastructure provider announced that PYUSD can now be purchased on their platform through fiat using SEPA transfer system or popular mobile payment apps like Google and Apple Pay.

This onramp is part of their effort to reach out to consumers who are interested in crypto payments but may not feel comfortable using digital asset wallet software.

According to Transak CEO Sami Start, one of the main challenges for widespread adoption of crypto is the difficulty in converting traditional currencies into digital assets.

By adding PYUSD to their platform, they are providing a reliable onramp for traders, utilizing PayPal’s familiar and reputable name to make it easier for individuals to enter the world of decentralized finance.