- Transak has decided to spread its branches in India as an initiative to expand
- The founders of the application believe that with the growing popularity of crypto in India, it would be the right time for such a venture
- Transak has taken into account the great and talented minds of India, which would help to take the company to the next level
Transak, which is a payment gateway for fiat to crypto transactions, has taken a step of expansion in India after raising an amount of Rs. 4.8 crore. This amount was raised in a seed round which was led by The Lao, Koji, Consensys, Lunex, IOSG, and other well-known angel investors. The working of Transak is based on the buying and the selling of digitized currencies, thereby allowing access to crypto to the users who are strictly mainstream and other businesses as well. It would also grant access to the blockchain. The company aims towards a well-led expansion in all its operations to different places involving mainly the developing countries.
The main reason for bringing Transak to India
Transak has recently chosen India for its new expansion, where it will use the amount of 4.8 crores to hire new well-efficient engineers to work and nurture the company’s technology and take it to the next level. It will hire more and more people and spread its branches in India after flourishing in London. This announcement of a new expansion venture was mentioned by a company member in a recent interview. India is witnessing a huge forward movement in the domain of blockchain. It makes the company feel that it is the right time for them to carry out their expansion process in India, as the country has a large amount of man-power associated with cheap labor. And as we know that the minds and talents that are present in India are famous across the globe, this would provide the company with a brighter future with fresh and talented people on board.
Bridging the gap between crypto trades between countries
The co-founders of Transak, Yeshu Agarwal and Sami Start have mentioned in an interview that they are taking this step to make the usage of crypto and blockchain to the next level making its use more mainstream in a country like India where there exists a lot of opportunities for the company to grow and flourish. They have mainly taken up this initiative to bridge the existing gap between the users at one end who wish to purchase digital currencies in a direct manner to get them transferred to their wallet. This would link India to over 60 countries worldwide in terms of trading in cryptocurrencies. Unlike the traditional exchanging platforms for cryptocurrencies, Transal would enable the users to access all their crypto in fiat.
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