Zengo wallet integrates Transak to bolster mainstream adoption of crypto

  invezz.com 4 h

Self-custodial crypto wallet Zengo has integrated with Transak, a Web3 infrastructure provider, to promote the mainstream adoption of cryptocurrency.

An announcement the two platforms shared on Thursday noted that the collaboration will simplify and add a security layer for users when buying and storing crypto.

“Integrating Transak into Zengo was a natural progression for us, as both companies share a common vision of making cryptocurrencies more accessible,” said Ouriel Ohayon, CEO of Zengo.

Zengo wallet users can buy 180+ cryptocurrencies via Transak

Zengo wallet launched in 2018, becoming the first consumer-focused crypto wallet to offer institutional-grade security for regular users.

It uses Multi-Party Computation (MPC) cryptography and a 3-factor secure recovery model – which means no seed phrase vulnerability.

MPC technology has redefined safety for users in the crypto wallets space, with the use of split private keys helping reduce risk of wallet compromise. Zengo uses both biometric and threshold signature technology for its no-seed-phrase wallet.

Transak, on the other hand, is a fiat-to-crypto gateway solutions platform that offers its services to more than 4.5 million users across more than 160 countries. The platform supports over 20 payment methods, including Google Pay, Apple Pay, and multiple local options.

With this integration, Zengo users can now securely buy more than 180 cryptocurrencies via Transak’s Multi-Level KYC system, safely storing these assets in their non-custodial wallets.

Transak’s easy onboarding processes means mainstream users can get into the market within as little as 30 seconds through the platform’s Lite KYC feature. High value transactions of more than $75,000 require the wallet’s Enhanced KYC.

“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,” said Yeshu Agarwal, CTO of Transak.

The Zengo wallet reportedly serves more than 1 million users, who can buy and trade crypto and NFTs.

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