Crypto on-ramp solution Transak is establishing a new entity in Hong Kong to expand into the APAC region. The move is aimed at taking advantage of the city's financial hub status and regulatory framework for cryptocurrencies. Transak plans to integrate local payment methods and comply with Hong Kong's regulatory standards to simplify Web3 accessibility. The company's global operations demonstrate its commitment to regulatory compliance, and it has joined Web3 Harbour to promote collaboration in the APAC's Web3 ecosystem.

According to CoinDesk, Web3 payment infrastructure provider Transak has announced its integration with Visa Direct to simplify the conversion of cryptocurrencies to fiat currencies. This transaction allows Web3 payment infrastructure providers to easily convert cryptocurrencies into local currencies for users in over 145 countries/regions.