Transak

Transak is a web3 payment infrastructure company that lets any application embed fiat-to-crypto and crypto-to-fiat conversion flows without building the underlying compliance, banking, and payment-rail plumbing from scratch. Founded in 2019 and integrated across 600+ wallets, exchanges, and decentralized applications, Transak functions as the fiat gateway layer for a wide swathe of the onchain economy — including a deep and growing presence on Solana.

Origins and Team

Transak was co-founded in London in 2019 by Sami Start (CEO) and Yeshu Agarwal (Co-founder, President, and CTO). Start brought traditional banking technology experience; Agarwal contributed expertise in decentralized exchange protocols. Their founding insight was blunt: up to 90% of prospective users abandoned dApps when forced to leave an application, navigate to a centralized exchange, acquire funds, and transfer them back. The founders initially operated from a shared London workspace, manually verifying the first several hundred transactions to build a risk engine that later became a core competitive advantage.

Funding has come in stages. An initial $660,000 seed round from ConsenSys, The LAO, and Lunex Ventures validated the model during DeFi Summer 2020. A $20 million Series A in May 2023, led by CE Innovation Capital, funded the expansion of off-ramp and NFT checkout capabilities alongside Transak One, a single-payment smart-contract onboarding product. In August 2025, Transak closed a $16 million strategic round from Tether and IDG Capital focused specifically on scaling stablecoin payment infrastructure. Total funding stands at approximately $37 million across four rounds and 33 investors. The company operates registered entities in the United States (NMLS ID: 2362652), United Kingdom, Canada, Australia, and Hong Kong.

Core Mechanism

Transak's infrastructure is designed to be embedded inside other applications rather than operated as a standalone consumer destination. Partners integrate via two primary options: a pre-built widget that can be dropped into any interface in days, or a white-label API that gives partners full control over the user interface and experience.

Under the hood, Transak handles the components that make fiat-crypto conversion legally and operationally complex: identity verification, regulatory compliance, banking relationships, and payment rail connectivity. When a user initiates a purchase inside a partner application, Transak's KYC flow (powered through a Sumsub integration) screens the user, processes the fiat payment through local payment rails, acquires or settles the corresponding cryptocurrency, and delivers it directly to the user's specified wallet address.

A key differentiator is KYC Reliance — partners who have already verified their users can pass those credentials to Transak, allowing users to skip re-verification and complete a transaction without leaving the partner's interface. Similarly, Auth Reliance means returning users can transact using their existing session, removing the login step entirely.

Products and Features

On-Ramp: The core fiat-to-crypto product supports credit and debit cards, bank transfers (SEPA Instant in Europe, ACH in the US, UPI in India, PIX in Brazil, and more than 20 additional local payment methods), Apple Pay, and Google Pay. Transaction limits reach up to $75,000, and geographic coverage spans 160+ countries and 49 US states.

Off-Ramp: The crypto-to-fiat direction allows users to cash out holdings directly to bank accounts. Transak expanded off-ramp capabilities in 2025 through integrations with MetaMask and Uniswap wallets.

Virtual Account Payments: Partners can issue named virtual bank accounts (IBANs) that provide dedicated wallet addresses and enable instant settlement for recurring or institutional use cases. In 2025, Transak launched 1:1 stablecoin on-ramping with named IBANs through MetaMask, enabling SEPA and ACH flows directly within the wallet.

Stablecoin Infrastructure: Transak added support for Circle's EURC and Paxos's USDG in 2025, enabling MiCA-compliant euro and dollar stablecoin flows across Europe and beyond. Partnerships with Cross River and Fireblocks extended these rails to institutional users.

Headless and Agentic Payments: For applications that need programmatic on-ramps without visible UI redirects — such as AI agents handling payments on behalf of users — Transak offers headless card processing and Apple Pay integrations that operate invisibly within native interfaces.

Asset and Network Coverage

Transak supports 136+ cryptocurrencies across 45+ blockchain networks. Solana is a first-class supported network: users can purchase SOL and other Solana-native tokens, with settlement delivered directly to Solana wallet addresses. The platform's Phantom integration made Solana particularly prominent: within seven weeks of Phantom embedding Transak in December 2024, SOL purchases via Transak surged 400%, with SOL transactions accounting for 75% of Transak's total Solana volume.

Solana Ecosystem Presence

Transak's relationship with the Solana ecosystem is anchored by its December 2024 integration with Phantom, Solana's largest wallet by user count. The partnership embedded Transak's on-ramp directly within Phantom's interface, allowing users to purchase SOL and Solana tokens with local fiat payment methods without leaving the wallet. In 2025, Transak also enabled SOL purchases within MetaMask's Solana-compatible interface. The scale of Solana volume flowing through Transak's rails positions it as one of the primary fiat entry points for the Solana ecosystem.

Beyond SOL itself, Transak's infrastructure supports the broader Solana economy: stablecoin flows into Solana DeFi protocols, NFT checkout paths, and any Solana-based application that embeds Transak's widget or API.

Security and Compliance

Transak holds ISO 27001:2022 certification (information security management) and SOC 2 Type II compliance, both externally audited standards that verify controls over data handling, availability, and security. On the regulatory side, the company has secured money transmitter licenses in 11 US states, enabling wire transfer capabilities alongside card and ACH processing, and obtained Digital Currency Exchange approval in Australia. Its UK entity operates within Financial Conduct Authority (FCA) Travel Rule requirements.

These compliance layers are central to Transak's value proposition for partners: by integrating Transak, applications gain access to licensed, audited fiat rails without independently securing regulatory approvals across dozens of jurisdictions.

Competitive Position

Transak competes primarily with MoonPay, Ramp, and Coinbase's onramp product in the embedded fiat gateway category. Transak's differentiators include the breadth of local payment methods (particularly in emerging markets), the depth of KYC/Auth Reliance features that reduce user friction, and the scale of partner integrations across both custodial wallets and decentralized applications. Card fees typically range from 3.5% to 5.5% depending on region and issuer; bank transfer fees (SEPA) are substantially lower at roughly 0.99%.

With 10 million users, 600+ integrated platforms, and regulatory standing across five major jurisdictions, Transak functions less as a consumer product and more as critical infrastructure — the fiat-to-crypto plumbing that many of the most-used Solana applications and wallets depend on to bring new users onchain.