PancakeSwap Expands Payment Options

In a recent announcement dated September 21, PancakeSwap, the popular decentralized exchange (DEX), has integrated Transak as an additional provider in its “buy crypto” tab. This move adds yet another payment option to its already diverse array of fiat-to-crypto solutions, which previously included Mercuryo and MoonPay. With Transak now on board, users can expect a seamless experience when buying cryptocurrency.

The Broader Picture of PancakeSwap

As a multichain DEX, PancakeSwap operates across various blockchain networks, including BNB Smart Chain, Ethereum, Base, and Polygon zkEVM. It boasts an impressive $1.3 billion in total value locked (TVL) and processes a staggering $150 billion in volume daily, according to DefiLlama data.

How Does It Work?

One of the major hurdles faced by users on DEXs is the lack of direct fiat-crypto conversion options. This is where the “Buy Crypto” feature comes in handy. Thanks to third-party integrations like those with Transak, users can effortlessly purchase crypto directly from the exchange.

• Transak offers over 20 payment options tailored for global users, including debit cards, Google Pay, Apple Pay, and bank transfers.
• In addition, Transak supports nine cryptocurrencies over seven different blockchain networks.

What Does This Mean for Users?

PancakeSwap’s pseudonymous figurehead, Head Chef Mochi, emphasized the importance of simplicity in accessing decentralized finance (DeFi):

“It’s imperative that entry points remain simple yet robust. Transak’s expertise in fiat on-ramping, combined with PancakeSwap’s platform capabilities, promises an era where diving into decentralized finance is intuitive and barrier-free for all.”

More Than Just Buying Crypto

Interestingly, PancakeSwap isn’t just resting on its laurels. This DEX has also launched a Web3 game called Pancake Protectors on May 30, incentivizing holders of its governance token, CAKE, with exclusive perks. Meanwhile, the token’s inflation rate was adjusted to a more sustainable range of 3%-5% following a governance vote in April.