Transak, a leading fiat-to-crypto gateway solution provider, announced a strategic partnership with Zengo, a self-custodial crypto wallet known for robust seed phrase security features.
The collaboration represents a major step towards simplifying and fortifying the process of purchasing and safeguarding cryptocurrencies.
Understanding the Transak-Zengo collaboration
Central to the partnership is the shared commitment of both platforms to enhance the ease and security of crypto acquisition for end-users.
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As the first consumer-focused multi-party computation (MPC) wallet to offer institutional-grade security, Zengo swears by its no-seed-phrase architecture, a cutting-edge approach to crypto security leveraging advanced biometrics and threshold signature technology.
Zengo users can now acquire cryptocurrencies with just a few taps, facilitated by Transak’s Multi-Level know-your-customer (KYC) system, and securely store their assets in the non-custodial Zengo wallet, all while bypassing the risks associated with seed phrases.
Transak’s Multi-Level KYC system is designed to enhance user experience by streamlining the onboarding process, offering a range of verification options from Lite KYC, which enables users to onboard in under 30 seconds, to Enhanced KYC, which accommodates high-value transactions up to $75,000.
What the collaboration brings to the crypto market
Yeshu Agarwal, Transak CEO, emphasized the importance of accessibility and security in the crypto landscape, stating:
“At Transak, we believe everyone should be able to access cryptocurrencies. While ease of access is crucial, security is undeniably important in an ownership-based financial landscape. Our partnership with Zengo is a great inflection point of secure and easy crypto access for the masses.”
— Yeshu Agarwal, Transak CEO
The integration of Transak into Zengo reflects a natural synergy between the two companies, driven by a shared vision of democratizing crypto.
Ouriel Ohayon, CEO of Zengo, highlighted this alignment, saying:
“Integrating Transak into Zengo was a natural progression for us, as both companies share a common vision of making cryptocurrencies more accessible. While Transak excels in providing an efficient acquisition experience, Zengo complements this by focusing on seamless storage and usage. This integration is a perfect alignment of our complementary strengths, aiming to offer our users a holistic crypto journey.”
— Ouriel Ohayon, CEO of Zengo
Transak meets the needs of its global users by providing over 20 payment options for Zengo wallet users, including popular choices like Google Pay and Apple Pay and more localized venues.
