Transak and Opera have announced a groundbreaking partnership to enhance stablecoin accessibility across more than 50 countries. This collaboration aims to simplify the process of buying and selling stablecoins, making it easier for users to engage in digital finance without the burden of transaction fees.
Key Takeaways
- Transak and MiniPay collaboration offers on-and-off ramps for stablecoins in over 50 countries.
- Users benefit from zero transaction fees for a limited time to promote global adoption.
- MiniPay enables near-instant transfers and payments with stablecoins, supported by the Celo blockchain.
Partnership Overview
Transak, a leading provider of fiat-to-crypto payment solutions, has teamed up with Opera’s MiniPay, a wallet designed for stablecoins built on the Celo blockchain. This partnership allows users to buy and sell popular stablecoins such as Celo Dollar (cUSD), Tether (USDT), and USD Coin (USDC) using various local payment methods, including credit cards, Google Pay, and Apple Pay.
To encourage adoption, the partnership is offering zero transaction fees for a limited time, allowing users to experience the benefits of stablecoins without the usual financial barriers. This initiative is expected to drive the use of stablecoins for cross-border transactions, making them more accessible to a wider audience.
Features of MiniPay
MiniPay has quickly gained popularity since its launch in September 2023, amassing over 5 million activated wallets. The app is lightweight, requiring only 2MB of storage, and is particularly appealing in emerging markets where users can start with as little as $5 in stablecoins. Key features include:
- On-Ramping: Users can purchase stablecoins directly with local currencies.
- Off-Ramping: Users can convert stablecoins back into fiat and withdraw directly to their bank accounts or cards.
- Utility Bill Payments: In select regions, users can pay utility bills without incurring any fees.
Industry Leaders Weigh In
Carlo de Luca Gabrielli, Global Director of Sales at Transak, emphasized the importance of accessibility in financial tools, stating, "We believe financial tools should be accessible to everyone, everywhere. By joining forces with MiniPay, we’re not only making digital finance affordable but also promoting inclusiveness for communities that need it the most."
Jørgen Arnesen, EVP of Mobile at Opera, expressed excitement about the collaboration, noting, "We’re thrilled to collaborate with Transak to offer MiniPay users a wider range of local payment options as we expand our stablecoin wallet to more countries worldwide. By eliminating fees, we’re breaking down financial barriers, making cross-border transactions and remittances more accessible and affordable."
Conclusion
The partnership between Transak and MiniPay marks a significant step towards creating a more inclusive and cost-effective financial ecosystem powered by blockchain technology. By addressing common challenges such as high transaction fees, this collaboration is set to advance the global adoption of stablecoins, making them a viable option for everyday financial needs and cross-border transactions.