Decentralized exchange Pancakeswap has expanded its “buy crypto” tab by adding Transak as a provider, giving users more options when it comes to purchasing cryptocurrencies. This announcement was made on September 21, with the inclusion of Transak making it the third provider for this feature. Previously, Mercuryo and Moonpay served as providers for the “buy crypto” tab.
Pancakeswap is a multichain decentralized crypto exchange (DEX) that operates on eight different blockchain networks, including BNB Chain, Ethereum, Base, Polygon zkEVM, and others. According to DeFi Llama, Pancakeswap has over $1.3 billion worth of crypto locked in its contracts and handles a daily trading volume of more than $150 billion.
As a DEX, Pancakeswap is unable to perform fiat to crypto conversions on its own. Users are required to own cryptocurrency in a wallet before using the exchange. To address this issue, the development team recently introduced the “buy crypto” feature, allowing users to onboard through third-party providers such as Mercuryo, Moonpay, and now Transak. Transak is proud to be integrated into over 350 Web3 apps, making it one of the most accessible crypto onboarding services available.
According to the announcement, Transak will offer “over 20 different payment options based on global needs.” These options include debit cards, Google Pay, Apple Pay, bank transfers, and more. Transak will provide Pancakeswap users with access to nine different cryptocurrencies across seven blockchain networks.
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The integration of Transak into Pancakeswap aims to make decentralized finance protocols more user-friendly. Mochi, Pancakeswap’s pseudonymous leader and head chef, expressed the importance of keeping entry points into the crypto world simple yet robust. The expertise of Transak in fiat on-ramping, combined with Pancakeswap’s platform capabilities, will facilitate a future where accessing decentralized finance becomes intuitive and barrier-free for all.
In addition to this development, Pancakeswap launched a web3 game called “Pancake Protectors” on May 30. This game offers additional benefits to holders of Pancakeswap’s governance token, CAKE. Through a governance vote held in April, the token’s inflation rate was reduced to 3%-5%.
With the inclusion of Transak as a provider in the “buy crypto” tab, Pancakeswap continues to expand its offerings and improve accessibility for users. This integration allows individuals to easily enter the world of decentralized finance while benefiting from the multiple payment options and cryptocurrencies provided by Transak. As Pancakeswap moves forward, it aims to create a seamless experience for users, making crypto transactions and participation in decentralized finance more intuitive and hassle-free.
