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According to Transac, Coinbase self-sustaining wallet users in Southeast Asia can now use its Web3 onboarding platform “as a fiat on-ramp to buy cryptocurrencies.” Transac’s integration with the Coinbase wallet comes at a time when more users are becoming “aware of the importance of keeping their funds safe, secure and under their control.”
Overcoming barriers to non-custodial wallets
Transak, a Web3 onboarding infrastructure provider, recently said that Coinbase wallet users can now use its platform “as a fiat on-ramp to buy cryptocurrencies.” As stated in the announcement, the integration “makes it easier [the] onboarding” users in Southeast Asian countries such as Thailand and the Philippines.
According to a November 29 statement, the Coinbase wallet integration announcement follows Transak’s recent addition of local payment methods that allow users in the two countries to overcome barriers to non-owned wallets.
In the Philippines, users can now buy cryptocurrencies on Transak using local payment methods such as Gcash, Maia and Grabpay or via debit and credit cards. Similarly, users in Thailand can buy cryptocurrencies on Transak with their debit and credit cards, as well as via bank transfers.
A growing stock of self-hosted wallets
Commenting on Coinbase wallet integration with Transak, Hassan Ahmed, regional director at Coinbase in Southeast Asia (SEA), sought to highlight the growing importance of users controlling their own funds. He said:
Self-hosted wallets are on the rise, especially as more people become aware of the importance of keeping their funds safe, secure and under their control. The Coinbase wallet, with its world-class security and ease of use, now integrated with Transak, makes it even easier for SEA users to access crypto and the Web3 without worry.
For his part, Sami Start, co-founder and CEO of Transak, said the integration of his platform with Coinbase makes it “more intuitive for users to participate.” On the other hand, the inclusion of local payment methods means users in these regions can opt-in more efficiently, with “lower transaction fees overall.”
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Image Credits: Shutterstock, Picabai, Wiki Commons
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