Miami, Florida, December 12th, 2024, Chainwire
Transak, a global leader in Web3 payments infrastructure, has officially launched Transak Stream, a groundbreaking innovation that redefines the crypto-to-fiat off-ramping experience. This new product delivers unmatched simplicity, making stablecoin and cryptocurrency conversions to fiat as seamless as sending a token between wallets.
Imagine this: A user with a Web3 wallet wants to withdraw $1,000 USDC. All they need to do is send their crypto to their unique Transak Stream Address. Within seconds, the equivalent fiat amount is deposited into their bank account or card— no order placement, no need to open additional apps, no widget.
Click here to see Transak Stream in action
Such a smooth, hassle-free process transforms the off-ramp experience, making it incredibly user-friendly while offering wallet partners and platforms a competitive advantage, i.e., enhanced user retention, higher conversions.
“Our goal was simple, yet ambitious — make crypto as intuitive as cash. Transak Stream is a giant leap in that direction. It makes crypto transactions feel as natural as everyday payments,” said Sami Start, CEO of Transak.
The Future of Off-Ramping: One Step, Instant Cash-Outs
Transak Stream revolutionizes the off-ramping process by reducing it to a single step:
1. Send Stablecoins or Crypto: Users simply send their assets to their unique Transak Stream Address.
2. Instant Fiat Payout: The fiat equivalent is instantly deposited into their linked bank account (SEPA, FASTER) or card (Visa/Mastercard).
This innovative approach streamlines the traditionally cumbersome multi-step off-ramping process. Transactions that once took ~5 minutes or more are now completed in seconds, making it easier to integrate stablecoins and crypto into real-world financial use cases. In a live test, Transak compared its standard off-ramp with the new Transak Stream. The results were striking: while the standard process took approximately 4 minutes, Stream enabled cash-outs in just 19 seconds.
“Transak Stream bridges the gap between crypto and fiat with the simplicity users deserve and the compliance businesses demand,” said Yeshu Agarwal, Co-Founder & CTO of Transak. “With Visa Direct and stablecoins like USDC at the core, we’re creating an ecosystem where crypto becomes as easy to use as traditional money.”
Limitless Use Cases For Web3: Transforming Payments, Payroll, And More
The technical innovation behind Transak Stream is one of the industry’s biggest for consumer-level crypto accessibility. By enabling near-instant conversions, this new product unlocks use cases across remittances, payroll, gaming, and more.
- Global Remittances: Migrant workers can send stablecoins to family members, with funds seamlessly deposited into local bank accounts as fiat, eliminating traditional remittance fees and delays.
- Payroll Automation: Companies can pay employees globally in stablecoins, which convert automatically into local fiat for immediate access.
- Instant Payouts for Freelancers and Creators: Freelancers earning in stablecoins can access their earnings in fiat within minutes, ready to spend or save.
- Bank-Enabled Crypto Off-Ramping: Banks can integrate Transak Stream to offer their customers direct crypto-to-fiat conversion within their existing banking apps, creating seamless flows and engaging crypto users.
- AI-Driven Financial Automation: Apps can leverage AI-powered tools to automate financial flows. For example, a task management app could verify completed milestones and trigger automated payouts in fiat using Transak Stream.
- Web3 Gaming: Enable seamless in-game asset payouts directly to players' bank accounts in seconds.
- Recurring Payouts: From lending to staking, get recurring yield payouts directly to bank or card.
Key Features of Transak Stream
Whether you’re a freelancer cashing out earnings, a business automating payouts, or a developer integrating next-gen financial flows, Transak Stream sets a new benchmark for speed, accessibility, and global reach.
- One-Click, Crypto-To-Cash: Users send crypto to their unique Transak Stream Address, and fiat is deposited directly into their bank accounts or cards- within seconds.
- Global Reach: Transak Stream leverages Visa, Mastercard and a network of all localized banking providers (SEPA, FASTER, more coming soon) to deliver real-time payouts in over 145 countries, ensuring users have instant access to their funds.
- Broad Asset Compatibility: Supports 40+ popular cryptocurrencies and stablecoins such as USDC, USDT, BTC, ETH, and SOL across 29+ major blockchain networks.
- Designed for Developers: Partners can just pass 5 mandatory query params and enable Stream for their app also available with robust APIs and fully customizable capabilities to enable platforms to integrate one-click off-ramping, enhancing user retention and engagement.
- Industry’s fastest Off-Ramp: The innovation of introducing Transak Stream wallets make it child’s play for users to off-ramp in one -click, making it the fastest and easiest way to cash out crypto.
- Send becomes the new sell: Send crypto from any wallet to Transak Stream Address to off-ramp in under one minute.
Building On Proven Success
Transak Stream builds on the success of Transak’s existing off-ramp solution, which has processed over $50 million across 100,000+ transactions globally in 2024 alone. Across all its products, Transak has processed over $1.4 billion in transactions for its 8 million+ users worldwide.
“Our goal with Transak Stream is to create a future where crypto flows seamlessly into real-world financial systems,” added Agarwal. “Visa Direct and Circle are integral to making this vision a reality, enabling secure, scalable, and compliant transactions across borders.”
Visit Transak.com/integrate-stream to get Transak Stream for your app
About Transak
Transak is the world's most compliant and largest Web3 payments infrastructure provider, serving over 8 million users across 160 countries. It powers 350+ platforms, facilitating the purchase and sale of digital assets with its API-driven fiat-crypto on/off-ramp, NFT checkout, and other solutions that simplify KYC, compliance, payment methods, and customer support.
Headquartered in Miami, US, and incorporated in Delaware, Transak has a tech hub in Bengaluru and offices in London, Milan, Dubai, and Hong Kong.
For more information, visit https://transak.com/ or follow us on x.com/transak and linkedin.com/company/transak
Contact
Harshit Gangwar
Harshit.Gangwar@transak.com