It’s no secret that Southeast Asia is a booming market for crypto and blockchain technology. According to White Star Capital, over 600 crypto and blockchain companies are now headquartered in Southeast Asia, with $1 billion received in funding just in 2022. While Vietnam and Singapore lead the change, it’s essential not to overlook other key players that pioneer blockchain adoption: the Philippines, with its growing entertainment and GameFi industry, and Thailand, where DeFi solutions are rapidly developing.
Even as the potential for blockchain revolution spikes in Southeast Asia, there is a growing need for more intuitive and accessible ways to bank, finance, and the crypto economy.
Leading the change with Coinbase Wallet
Coinbase Wallet, a self-custodian solution for crypto management, integrates Transak, a leading API-driven solution and Web3 onboarding infrastructure provider. With a goal of easier user onboarding in the Philippines and Thailand, Coinbase Wallet and Transak bridge the gap between crypto potential and access to blockchain assets.
Coinbase Wallet, with its top-industry security, intuitive UX, and now integration with Transak, removes barriers for SEA customers to access crypto and Web3. Together, they provide a self-hosted wallet solution that allows users to both buy crypto using local payment methods via Transak and secure their assets on Coinbase Wallet.
Transak integration simultaneously unlocks crypto assets from 125+ countries and simplifies access to fiat payment methods. For users in the region, buying crypto now is as easy as joining Coinbase Wallet and using Transak to on-ramp to 130+ crypto assets using GCash, Maya, GrabPay, bank transfers, or simply through a debit/credit card.
What’s next for Transak?
Transak is determined to empower the world with decentralization and easier access to crypto economy, so this is likely not the first exciting partnership we’ll see for SEA and other key regions for Web3. Transak is backed by top VCs, including Consensys and Animoca Brands, and graduated from the Tachyon accelerator program. Throughout 2022 and transitioning into ‘23, Transak continues to partner with Web3 solutions across the globe and expand to new regions in order to increase crypto adoption. To learn more about their plans, visit their website here.
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