1inch, one of the largest decentralized exchange (DEX) aggregators and liquidity protocols for routing trades, made headlines last year when the network released an iPhone wallet. And now 1inch Network has partnered with Transak, allowing users to onramp from fiat to crypto directly within the 1inch Wallet.

In crypto, the expression “KYC” stands for “know your customer." It refers to how crypto onramp solutions, exchanges, dApps, and protocols are verifying the identities of their users in order to comply with anti-money-laundering requirements and federal regulations.

Everyone from crypto natives to brand new users all wants crypto onramp to be smoother and more accessible.

Transak’s recent partnership could drive even more users to Terra’s growing ecosystem—here’s what you need to know

In just a few short months, the Terra ecosystem has grown significantly. While Mirror Protocol and Chai were once the only two decentralized applications (dApps) built on Terra’s network in early 2021, there are now hundreds — plus a growing base of developers.

Just like “normal” iPhone or Android apps, decentralized apps (dApps) must have the functionality to accept payments. But as we know, dApps run on blockchain technology, where these payments are made in the form of cryptocurrency.

During the ETHDenver conference Cask Protocol Dao won Transak’s Hackathon. Team Cask’s Matt Brickley, Mike Machado and Matt Scifo were awarded $5000 USD. Their project centered around reducing the friction of on-ramping users to DeFi, and the Transak team is now working with Cask to integrate their technology into the Transak platform.

Miami, Florida - March 23, 2022 - Transak, a single integration for applications to accept fiat-to-crypto deposits and withdrawals from a global user base, today announces that Apple Pay is now a recognized payment option within the company’s fiat onramp.