Trust Wallet and Mercuryo Collaborate to Enable Crypto Off-Ramps for 30+ Digital Assets
Cryptocurrencies have revolutionized the way individuals store and transfer value in virtual assets on decentralized networks. However, many real-world transactions still require the use of fiat currencies for settlement in various countries and jurisdictions.
In a significant development for the crypto industry, Trust Wallet, a leading self-custody provider, has partnered with Mercuryo, a payments infrastructure firm, to facilitate the conversion of digital coins into fiat currencies, a process known as “off-ramping.” Petr Kozyakov, co-founder and CEO of Mercuryo, emphasized the importance of offering users a seamless off-ramp service in addition to securely storing digital assets.
Through this collaboration, Trust Wallet users now have the ability to convert more than 30 virtual currencies into euros and U.S. dollars. This service is available in over 135 countries worldwide, providing a convenient and efficient way for users to access their funds in traditional currencies.
The partnership between Trust Wallet and Mercuryo underscores the industry’s commitment to promoting mass adoption and expanding the use cases of digital assets, particularly in Europe. As the European Union prepares to implement the Markets in Crypto Assets Regulation (MiCA), web3 companies are ramping up efforts to support the growing demand for crypto services in the region.
Several other service providers, including Strike, Tether, Robinhood, and Kraken, have also expanded their offerings in Europe in recent months. With over 63 institutions in the region already providing digital asset banking services, Europe has emerged as a key hub for cryptocurrency adoption and innovation.
Overall, the collaboration between Trust Wallet and Mercuryo represents a significant step forward in bridging the gap between the crypto and traditional financial worlds. By enabling users to easily convert their digital assets into fiat currencies, this partnership is set to enhance the usability and accessibility of cryptocurrencies for a broader audience.