Transak has announced a partnership with Fireblocks aimed at creating efficient solutions for stablecoin payment processing for financial institutions and fintechs worldwide.
Transak and Fireblocks Partnership
Transak has become a partner of the Fireblocks payment network, providing global rails for fiat-to-stablecoin transactions. This collaboration allows financial institutions and fintechs to implement stablecoin payments without needing to create their own infrastructure or deal with regulatory complexities.
Integration Benefits
Transak offers solutions for direct integration, compliance assurance (KYC, AML) for each transaction, as well as international coverage in over 64 countries. The solution accounts for adaptability to various use cases, such as NFT payments and token transactions.
Scaling Stablecoin Payments
According to Transak's COO, Siraj Uddin, this partnership allows institutions to access the speed and compliance needed in today’s environment without the complexities of fragmented integrations. Fireblocks, in turn, provides the infrastructure that has already handled over 10 trillion digital asset transfers.
The partnership between Transak and Fireblocks reflects a dedication to simplifying stablecoin payment processes, which could significantly impact financial services and improve access to global markets.
