According to Cointelegraph, decentralized exchange Pancakeswap has added Transak as a provider in its 'buy crypto' tab, giving users an additional option when purchasing cryptocurrency. Previously, Mercuryo and Moonpay were the only providers for this feature, making Transak the third provider to be added.
Pancakeswap is a multichain decentralized crypto exchange (DEX) available on eight different blockchain networks, including BNB Chain, Ethereum, Base, Polygon zkEVM, and others. It has over $1.3 billion worth of crypto locked in its contracts and does over $150 billion in volume per day, according to crypto analytics platform DeFi Llama.
As with all DEXs, Pancakeswap cannot perform fiat to crypto conversions on its own. Users must first own cryptocurrency in a wallet before they can use the exchange. The development team recently implemented the 'buy crypto' feature to address this issue by allowing users to onboard with third-party providers like Mercuryo, Moonpay, and now Transak. Transak claims to be integrated into over 350 Web3 apps, making it one of the most accessible crypto onboarding services.
Transak will provide over 20 different payment options based on global needs, including debit cards, Google Pay, Apple Pay, bank transfers, and others. It will also provide nine different cryptocurrencies across seven different blockchain networks to Pancakeswap users. Pancakeswap's pseudonymous leader, head chef Mochi, stated that the integration will help make decentralized finance protocols easier to use, promising an era where diving into decentralized finance is intuitive and barrier-free for all.