The collaboration between these two entities aims to enhance user convenience for those opting for self-custody by providing Trust Wallet users with an improved payment experience. This includes frictionless transactions and a diverse range of payment options, including standard methods such as credit cards and Apple Pay, as well as various local payment methods such as Interac in Canada, iDeal in the Netherlands, PayID in Australia, and others. The collaboration also aims to offer great conversion rates.
In the company press release, official representatives from Banxa expressed enthusiasm about partnering with Trust Wallet, emphasising the collective effort to simplify and enhance cryptocurrency payment interactions. Trust Wallet's reputation for security aligned well with Banxa's embedded crypto solutions, ultimately improving the user experience for wallet holders.
Trust Wallet, known for its advanced security features, specialises in ensuring the safety and protection of users' digital assets. Trust Wallet representatives highlighted the significance of the Banxa fiat onramp integration in making crypto more accessible globally. In essence, users now have access to new payment methods with lower fees, contributing to increased accessibility.
According to the official press release, the collaboration between Banxa's technology and Trust Wallet's commitment to security aims to establish a foundation for an innovative and seamless cryptocurrency payment experience.
Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa works with businesses to provide a seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates.
In October 2023, BitPay, which is a US-based provider of Bitcoin and cryptocurrency payment services, partnered with Banxa with the shared goal of broadening access to cryptocurrency payments.
The collaboration focused on extending the reach of crypto payments to buyers across various countries, encompassing the Americas, Europe, Asia, Africa, and Oceania. The main goal was to provide crypto enthusiasts with increased access to a diverse array of payment methods. According to the official press release, these local payment methods are often deemed more convenient than traditional options.
Banxa, as part of this collaboration, focused its effors to adhere to global regulatory requirements. The company is actively working to secure the necessary licenses to facilitate the provision of local payment alternatives to end-users.
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