According to Transak, users of the Coinbase self-custody wallet in South East Asia can now use its Web3 onboarding platform “as a fiat on-ramp to buy crypto.” Transak’s integration with the Coinbase wallet is coming at a time when more users are becoming “aware of the importance of keeping their assets safe, secure, and in their control.”
Overcoming Barriers to Non-Custodial Wallets
Transak, a Web3 onboarding infrastructure provider, recently said that users of the Coinbase wallet can now use its platform “as a fiat on-ramp to buy crypto.” According to a statement, the integration “eases [the] onboarding” of users in Southeast Asian countries like Thailand and the Philippines.
As per a Nov. 29 statement, the Coinbase wallet integration announcement followed Transak’s reported recent addition of local payment methods that enable users in the two countries to overcome barriers to non-custodial wallets.
In the Philippines, users can now buy crypto on Transak using local payment methods such as Gcash, Maya, and Grabpay or through debit and credit cards. Similarly, users in Thailand can buy crypto on Transak with their debit and credit cards and through bank transfers as well.
The Rising Stock of Self-Hosted Wallets
Commenting on the Coinbase wallet integration with Transak, Hassan Ahmed, the 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 assets safe, secure, and in their control. Coinbase Wallet, with its world-class security and ease of use, now integrated with Transak makes it even easier for SEA customers to access crypto and Web3 with peace of mind.
For his part, Sami Start, the co-founder and CEO of Transak, said his platform’s integration 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 onboard more efficiently while incurring “lesser transaction fees overall.”