Transak leverages Zero Hash for US expansion
By Edlyn Cardoza
Transak, the UK-based fiat on/off-ramp and 2020 Consensys Tachyon accelerator program graduate, recently announced a strategic partnership with Zero Hash. Transak has operations in over 60 countries and is now leveraging Zero Hash’s APIs that allow regulatory and technology rails to expand into North America.
Similar to how Banking-as-a-Service enabled FinTechs to focus on building products, Zero Hash is defining the new FinTech vertical of Digital Assets-as-a-Service by providing the infrastructure to offer digital asset experiences in a completely automated and regulated way. Transak will leverage a suite of Zero Hash’s products:
- Trade: Buy and Sell in a regulated environment.
- Send: 24/7/365 on-chain movements.
- Receive: Dedicated customer crypto addresses.
- Balance: Verify real-time account balances and deposits across all assets, with ownership validation.
“We are thrilled about our expansion plans in the US,” said Sami Start & Yeshu Agarwal, Co-Founders, Transak, “The American crypto market is growing rapidly, and 2022 is predicted to be another year of increasing adoption and burgeoning use cases such as DeFi and NFTs. The partnership with Zero Hash allows us to enter the US market rapidly while maintaining complete confidence in compliance with applicable regulations, with Zero Hash providing the regulatory framework to serve over 300 million Americans.”
Edward Woodford, the CEO of Zero Hash and the infrastructure and regulatory platform powering Transak’s launch in the US, commented: “We are excited to support Transak entering this new market. It is rewarding to enable innovative fintechs from all the world to bring their offering to the US and increase the ways corporate and retail investors can access crypto and blockchain.”
Zero Hash is a B2B embedded infrastructure platform that allows any platform to integrate digital assets natively into their own customer experience without any regulatory overhead and a light technical lift (a matter of API endpoints). The company is defining an entire new Fintech vertical of digital-assets as a service. The company’s clients include Neo-banks, broker-dealers, and payment groups and is backed by investors including Point72 Ventures, Bain Capital Ventures and NYCA.
Zero Hash LLC, a subsidiary of Zero Hash Holdings Ltd., is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. The company also holds a virtual currency license from NYDFS. In Canada, the company is registered as a Money Service Business with FINTRAC.
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