Pancakeswap Adds Transak for More Crypto Buying Options

Uncentralized trade According to a September 21 announcement, Pancakeswap now offers Transak as a provider in its “buy crypto” tab, providing users with an additional option when shopping for cryptocurrencies.

Previously, Mercuryo and Moonpay were purveyors of this feature, making Transak the third addition. Pancakeswap is a decentralized multichain cryptocurrency exchange (DEX).

Caption: Pancakeswap buy crypto tab. Source: Pancakeswap

It is accessible via eight distinct blockchain networks, including BNB Chain, Ethereum, Base, Polygon zkEVM, and others.

According to the crypto analytics platform DeFi Llama, it has more than $1.3 billion worth of crypto tied up in its contracts and transacts more than $150 billion per day. As with all DEXs, Pancakeswap cannot perform its fiat-to-cryptocurrency conversions.

Users must possess cryptocurrency in a wallet before using the exchange. Its development team recently implemented the “buy crypto” feature in an attempt to solve this issue by allowing users to onboard with third-party providers like Mercuryo, Moonpay, and now Transak.

Transak asserts integration with more than 350 Web3 applications, making it one of the most accessible crypto enrollment services.

According to the announcement, Transak will provide Pancakeswap users with “over 20 different payment options based on global needs,” including debit cards, Google Pay, Apple Pay, and bank transfers, as well as nine different cryptocurrencies across seven different blockchain networks.

Mochi, the pseudonymous leader of Pancakeswap, stated that the integration will make it simpler to use decentralized finance protocols.

On May 30, Pancakeswap released the web3 game “Pancake Protectors.” The game grants additional advantages to CAKE, the governance token of the DEX. A governance referendum in April lowered the token’s inflation rate to between 3% and 5%.