Transak has announced its support for Unichain, a Layer 2 blockchain scaling solution developed by Uniswap Labs. As one of the first fiat on-ramps on Unichain, Transak’s integration aims to lower entry barriers for users. They will be able to buy digital assets using traditional currencies.
The collaboration was officially unveiled at the Artificial Intelligence Action Summit in Paris. And now by leveraging Transak’s robust payment infrastructure, Unichain users can now enjoy a frictionless experience when converting fiat into crypto assets.
Yeshu Agarwal, Co-founder & CTO of Transak, said, “We believe that innovation lies at the intersection of accessibility and technology. Unichain’s vision to be a high performance rollup that scales Ethereum and powers DeFi complements our mission at Transak to make decentralized finance accessible to everyone.”
Unichain addresses long-standing DeFi challenges such as high transaction fees, slow processing speeds, and liquidity fragmentation. As a superchain built on Ethereum, Unichain reduces transaction costs by up to 95% compared to Ethereum Layer 1 and achieves one-second block times, with future enhancements targeting speeds as fast as 200-250 milliseconds.
Transak’s integration enhances Unichain’s accessibility by providing a secure and user-friendly onboarding process. Operating in over 160 countries, Transak supports multiple localized payment methods, including Google Pay, Apple Pay, credit cards, and bank transfers. With compliance measures such as SOC2 Type2 and ISO/IEC 27001 certifications, Transak ensures a secure financial ecosystem for users.
With Transak’s fiat-to-crypto gateway, Unichain users can:
- Instantly buy crypto assets like UNI and ETH directly on Unichain.
- Complete multi-level KYC processes in under 30 seconds for quick DeFi participation.
- Seamlessly convert Unichain-based assets back to fiat currency.
Mark Toda, Head of Protocols at Uniswap Labs, said, “Transak’s infrastructure supports Unichain’s capabilities by providing a seamless fiat-to-crypto experience. This collaboration contributes to advancing the goal of a more inclusive and accessible DeFi industry.”
Since early 2024, Transak has been integrated into the Uniswap Wallet, enabling users to onboard into DeFi through familiar payment methods. This partnership has already empowered users worldwide to purchase crypto assets directly within the Uniswap Wallet. The latest collaboration further cements Transak’s role as a key enabler in Unichain’s ecosystem, ensuring a more inclusive and efficient DeFi landscape.
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