According to Transak, users of the Coinbase self-custody wallet in Southeast Asia can now use its Web3 onboarding platform “as a fiat on-ramp to buy crypto.” Transak’s integration with the Coinbase wallet comes at a time when more users are becoming “aware of the importance of keeping their assets safe and in control.”

Overcoming the barriers to non-custodial wallets

Transak, a Web3 embed infrastructure provider, recently said that Coinbase wallet users can now use its platform “as a fiat on-ramp to buy cryptocurrency.” According to a statement, the integration “facilitates [the] onboarding” of users in Southeast Asian countries like Thailand and the Philippines.

According to a Nov. 29 statement, the Coinbase wallet integration announcement followed the recent addition of local payment methods that Transak reported allow users in the two countries to overcome barriers to non-custodial wallets.

In the Philippines, users can now buy cryptocurrency on Transak using local payment methods like Gcash, Maya, and Grabpay or through debit and credit cards. Similarly, users in Thailand can buy cryptocurrencies on Transak with their debit and credit cards and also through bank transfers.

The rise in self-hosted wallet stocks

Commenting on the Coinbase wallet integration with Transak, Hassan Ahmed, Coinbase’s regional director for Southeast Asia (SEA), tried to highlight the growing importance of users controlling their own funds. He said:

Self-hosted wallets are on the rise, especially as more people realize the importance of keeping their assets safe, secure, and in their control. Coinbase Wallet, with its world-class security and ease of use, now integrated with Transak makes it even easier for SEA clients to access crypto and Web3 with peace of mind.

For his part, Sami Start, co-founder and CEO of Transak, said that his platform’s integration with Coinbase makes it “more intuitive for users to participate.” On the other hand, the inclusion of local payment methods means that users in these regions can onboard more efficiently while incurring “lower overall transaction fees.”

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively about the economic problems of some African countries and how digital currencies can provide an escape route for Africans.