- Founded
- 2019-01-01 in United States
- Headquarters
- Miami, Florida, United States
Transak is a global payments infrastructure company that connects traditional fiat currencies with stablecoins and cryptocurrencies through a single API. Founded in 2019 by Sami Start and Yeshu Agarwal, the platform enables wallets, fintech apps, DeFi platforms, and enterprise systems to integrate fiat-to-crypto on- and off-ramps without building their own compliance or banking rails. Transak now powers over 450 applications and serves more than 10 million users across 75+ countries, processing over $2 billion in transaction volume. The company holds regulatory approvals including money transmitter licenses in 11 U.S. states, FCA registration in the UK, and authorizations in the EU, Canada, Australia, and India. In August 2025, Transak raised a $16 million strategic round led by Tether and IDG Capital to expand its stablecoin payment stack and enter new markets. Headquartered in Miami, Florida, Transak positions itself as a compliant, localized infrastructure for global value transfer using stablecoins.
Detailed Review
Company History and Founding
Transak was founded in 2019 by Sami Start and Yeshu Agarwal, who recognized the friction in moving between fiat currencies and digital assets. The company initially focused on building a compliant on-ramp for wallets and DeFi applications, and has since evolved into a full-stack payments infrastructure provider.
Business Model
Transak generates revenue primarily through transaction fees on fiat-to-crypto and crypto-to-fiat conversions. Its API-based model allows partners to embed the service directly into their applications, with Transak handling KYC/AML, payment processing, liquidity routing, and settlement. The company also offers premium services such as virtual IBAN accounts and white-label customization, with pricing typically based on volume and additional compliance needs.
Core Products and Platforms
Transak’s product suite includes: an On-Ramp & Off-Ramp Widget that embeds a buy/sell interface into host apps and supports hundreds of local payment methods across 75+ countries; a White-Label API that gives partners full UI control while leveraging Transak’s banking and compliance rails; Virtual Account Payments that create named IBANs for instant fiat-to-stablecoin deposits; Headless Cards & Apple Pay for one-tap checkout experiences; a KYC & Compliance Suite with plug-and-play workflows and identity reuse; and Stablecoin Payment Rails optimized for MiCA-compliant tokens like EURC and USDG. An experimental Programmatic On-Ramps for AI Agents enables automated fiat-to-crypto flows without a user interface.
Market Position and Competitors
Transak competes with MoonPay, Ramp, and Banxa in the fiat-to-crypto on-ramp space. It differentiates through its deep compliance registry, stablecoin-first focus, and enterprise-grade virtual account capabilities. The company targets not only consumer wallets but also business use cases such as employer-of-record payroll, cross-border remittance, and direct deposit flows. Its white-label API and KYC reliance model make it a backend choice for platforms that want to maintain their own user experience.
Licensing and Regulatory Footprint
Transak holds money transmitter licenses in 11 U.S. states, full FCA registration as a crypto-asset firm in the United Kingdom, Digital Currency Exchange approval in Australia, and regulatory authorizations in the European Union, Canada, and India. This regulatory portfolio is one of the most extensive among fiat-to-crypto infrastructure providers, enabling it to offer localized payment methods and comply with regional requirements.
Recent Developments (2025)
In August 2025, Transak raised $16 million in a strategic round co-led by Tether and IDG Capital, with participation from Primal Capital, 1kx, and Protein Capital. The company became the core on-ramp for Story Network’s tokenized IP marketplace, launched 1:1 stablecoin on-ramps inside MetaMask using virtual IBANs, and expanded asset coverage for SOL and MON at mainnet launches. Transak also partnered with Cross River for faster compliant fiat-to-crypto transactions and joined the Fireblocks Network for Payments to serve enterprise clients. Stablecoins now account for nearly 30% of Transak’s processed volume.
Key Products
Corporate On/Off Ramp
Supports high‑volume transactions (up to $5 million per transaction) for businesses and high‑net‑worth individuals, with expedited approval.
Virtual Account Payments
Provides named virtual IBANs for instant on‑ramp (fiat → stablecoin) and dedicated wallet addresses for off‑ramp settlement.
Transak Whitelabel API
Full UI control for developers to embed custom fiat checkout flows inside their own applications.
Transak Widget
A pre‑built, plug‑and‑play widget that can be integrated into any website or app in minutes, handling all KYC and payment steps.
On‑Ramp
Allows users to buy cryptocurrencies using fiat via credit/debit cards, bank transfers, Apple Pay, Google Pay, and other local payment methods.
Off‑Ramp
Enables users to sell cryptocurrencies and receive fiat instantly (within minutes) to their bank accounts.
NFT Checkout
Lets users purchase NFTs directly with fiat (cards or bank transfer) without needing a crypto wallet or prior crypto holdings.
Headless Cards & Apple Pay
Enables one‑tap checkout by tokenizing user cards and integrating with Apple Pay, reducing friction.
KYC Services
Multi‑level identity verification (Lite, Standard, Enhanced) with liveness checks and address validation; can be used standalone or via KYC Reliance.
Transak Stream
Stablecoin‑powered payment flows that allow fintechs, payroll platforms, and remittance services to send and receive value without exposing crypto complexity to end users.
On-Ramp
Enables users to purchase cryptocurrencies using fiat via cards, bank transfers, or local payment methods; available as a widget or white-label API.
Off-Ramp
Allows users to sell cryptocurrencies and withdraw fiat to a bank account or card, with instant settlement options.
KYC/AML Services
Multi-level identity verification (Lite, Standard, Enhanced) with liveness checks, address verification, and regulatory compliance.
White-label API / Widget
Two integration modes: full UI control via API or rapid deployment via a pre-built widget.
Stablecoin Rails
Support for 1:1 stablecoin deposits (e.g., USDC, EURC, USDG) and instant stablecoin settlements for both consumers and institutions.
On-Ramp & Off-Ramp Widget
A plug-and-play embeddable widget that allows end-users to buy or sell cryptocurrencies directly within a host application, supporting 75+ countries and hundreds of local payment methods.
White-Label API
A fully customizable API that gives developers full control over the user interface while leveraging Transak’s compliance, liquidity, and banking rails.
KYC & Compliance Suite
Pre-built KYC/AML workflows that can be used out-of-the-box or integrated via KYC Reliance, allowing partners to reuse their existing user verification data.
Stablecoin Payment Rails
Optimized infrastructure for stablecoin deposits and withdrawals, including support for MiCA-compliant tokens (EURC, USDG) and bank-to-wallet stablecoin flows via ACH, SEPA, and local payment networks.
Programmatic On-Ramps for AI Agents
Experimental headless API that enables automated, non-UI fiat-to-crypto flows for AI-driven applications.
Key Persons
Sami StartCo‑Founder & CEO
Yeshu AgarwalCo‑Founder