Transak Gandeng PayPal For Ease Of Access For Crypto Users

Transak cooperates with PayPal for easy access for crypto users (Photo; Doc. Bitcoinsvpl)

JAKARTA - Transak, a leading company in the field of Web3 and crypto assets, recently announced cooperation with PayPal through PayPal USD (PYUSD) stablecoin listing on their platform. This move not only opens the door to a wider world of crypto assets, but also marks a new era of easy access for users.

Transak, a leading provider of Web3 payment infrastructure, has integrated PYUSD into their ecosystem. This initiative is a smart solution to the challenge of traditional currency conversion to crypto assets by exploiting the reputation and trust that PayPal has built. Sami Start, CEO of Transak, stressed that the presence of PYUSD on their platform is a significant step towards providing safe and reliable access for market players who want to explore the decentralized financial world (DeFi). With great hopes, Transak anticipates that this integration will spur wider adoption of crypto assets among the public.

PYUSD, published by Paxos Trust Company, is a stablecoin whose exchange rate is fully supported by US dollars, US Treasury, and other cash equivalents. These stablecoins can be traded through PayPal and Venmo with a fixed exchange rate of US$1 (around Rp16,370) per PYUSD. As a product of Paxos, PYUSD operates under the regulation of the Department of Financial Services of the State of New York (NYDFS), guaranteeing security and transparency for its users.

Nick Robnett, head of asset growth at Paxos, shared his views on Bitcoin.com News that the integration of PYUSD in Transak is a progressive step to meet the dynamic needs of consumers by providing more diverse financial options. "Stablecoin and blockchain technology are the future of our financial system and this opportunity is very appropriate to introduce this revolutionary technology to users safely," Robnett said.

The presence of PYUSD on the Transak platform opens up more choices for users in purchasing crypto assets. It also adds confidence to new users who may still hesitate to enter the crypto world due to price volatility. With full support from stable fiat assets, PYUSD provides a solid foundation for those who want to try crypto assets without facing a big risk.

In addition, this integration also shows how large companies such as PayPal and Paxos recognize the extraordinary potential of blockchain and stablecoin technology. With the existence of clear regulations from NYDFS, users can feel safer and confident in making transactions using PYUSD.

The integration of PYUSD in Transak is also expected to accelerate the growth of DeFi technology. Along with the increasing number of users who have started to switch to stablecoins such as PYUSD, the decentralized financial ecosystem has the potential to develop faster and become more widely known.