Users of the digital wallet Pitaka can now purchase cryptocurrencies directly with Philippine Peso and pay using their debit cards, credit cards, GCash, Maya, GrabPay, and ShopeePay within the app as Tetrix, the Filipino-led Web3 company behind the digital wallet, has announced its partnership with Transak as its fiat on-ramp support.
Pitaka is a self-custodial digital wallet that allows users to store their crypto assets and interact with non-fungible token (NFT) marketplaces, play and earn games, decentralized autonomous organizations (DAOs), and decentralized finance (DeFi) applications. With Transak’s integration, users do not have to switch to another service and go through many intermediate steps to buy crypto.
Transak is a Web3 onboarding infrastructure provider that enables applications to accept fiat-to-crypto deposits from a global user base. It is known for its application programming interface (API)-driven solutions that enable Web3 platforms to onboard users to more than 130 crypto assets from more than 125 countries, and it is backed by top venture capital investors including Consensys and Animoca Brands.
“Transak is a trusted and reliable provider of fiat on-ramp services with a track record of successful partnerships with leading cryptocurrency companies. The integration of Transak’s fiat on-ramp is a key step in Pitaka’s mission to make it easy for users to buy, sell and use cryptocurrencies,” said Ralph Acabado, founder and chief operating officer of Tetrix.
“Self-custody wallets are on the rise as more people become aware of the importance of keeping their assets safe. They offer a high level of security, sovereignty, privacy, and control over their money and private financial information. Pitaka, now integrated with Transak, makes it even easier for customers to access crypto and Web3 with peace of mind,” he added.
Meanwhile, Etienne Gandon, business development analyst at Transak, said they are glad that they are able to provide new payment methods for Pitaka, “and we hope more and more users benefit from this as we strive to make onboarding easier and more seamless for mainstream adoption.”
For users to add crypto to their Pitaka with Transak, they have to log in into the mobile Pitaka app, then navigate to the “Buy” section of the Pitaka platform, and then select the cryptocurrency that they want to purchase and enter the amount that they want to buy.
Users are then advised to follow the prompts to complete the Transak payment process. This may include entering your personal and financial information, as well as any additional security measures required by Transak. Once the payment has been completed and verified, the purchased cryptocurrency will be credited to the user’s Pitaka account.
To make crypto transactions simpler and more intuitive, Tetrix has also teamed up with NFT domain provider Unstoppable Domains to give users a new feature where they can use human-readable domain names when buying or sending crypto assets.
Unstoppable Domains is a platform that allows users to create and use a special kind of website address called “crypto domains.” These domains are stored on a blockchain, which means they can’t be taken down or censored by anyone and belong to their holders forever.
Instead of having to share a long and confusing wallet address, Pitaka users can purchase crypto wallet address names provided by Unstoppable Domains and use them to send and receive crypto or other digital assets.
“NFT domains provide a secure and user-friendly way to store and manage non-fungible assets on the blockchain. Because they are stored on the blockchain, they are resistant to censorship and control by any single entity, and they can’t be lost or stolen like physical assets can. Additionally, because they use a standard domain name format, they are easy for users to understand and use,” Mr. Acabado explained.
“Pitaka is committed to providing a seamless and secure experience for its users, and our partnership with Transak and Unstoppable Domains is an important part of this effort. We want to provide Pitaka users with an easy and convenient way to transact with cryptocurrency and to promote the use of decentralized technologies such as blockchain and cryptocurrency,” he added.
Sandy Carter, senior vice-president and channel chief at Unstoppable Domains, said they look forward for the partnership “to give more people ownership and control of their identity.”