Southeast Asia continues to ride the wave of crypto development and use, consistently ranking as leaders by crypto adoption and creating key blockchain solutions that build the infrastructure of the future of Web3.
Even with those existing achievements and many more in the future, there are still barriers to higher mass adoption that stop the region from further acceleration toward full decentralization. Aspiring Web3 enthusiasts in the Philippines and Thailand have to jump through numerous bureaucratic hoops and unintuitive tech to access crypto assets. What’s more, over 70% of the population remains “underbanked” or “unbanked”, according to Bain & Company.
Coinbase integrates with Transak to bring mass adoption to Thailand and the Philippines
One of the solutions that actively works on bridging the gap between blockchain onboarding and the needs of crypto trading hotspots in Thailand and the Philippines is Transak. Today, Transak announced their integration with Coinbase, enabling their Southeast Asian customers to buy crypto as a fiat on-ramp.
Transak is a leading Web3 onboarding infrastructure solution that supports 130 cryptocurrencies on 75+ blockchains via cards, bank transfers, and other local payment methods in 125+ countries. Transak onboards users from fiat to crypto in over 100 top Web3 apps.
Transak’s integration with Coinbase eases onboarding for global users, especially for users in Southeast Asia (SEA). Transak recently announced local payment methods for the Philippines and Thailand that will continue to remove barriers to self-custodial wallets like Coinbase Wallet. In the Philippines, users can buy crypto via Transak using leading local payment methods like GCash, Maya, GrabPay, or simply through a debit/credit card. In Thailand, users can pay via bank transfers as well as debit/credit cards.
With over 100M verified users, 100+ countries supported, and $101B+ stored and managed on the platform, Coinbase is a full-service self-custody Wallet to securely invest, spend, save, earn, use, and now buy crypto. It supports Ethereum and all EVM-compatible networks in both the mobile app and browser extension, in addition to Bitcoin, Dogecoin, Litecoin, Stellar Lumens, and Ripple network.
According to Transak’s plans, the infrastructure provider will continue to remove barriers to self-custodial wallets like Coinbase Wallet, and has plans of partnering and integrating with more Web3 solutions that align with their core mission of simplifying access to crypto worldwide.