Mercuryo and Trust Wallet have teamed to power cryptocurrency off-ramps for over 30 digital assets.
Even though cryptocurrencies enable users to hold value in digital assets constructed on top of decentralized networks, many real-world transactions still need to be settled in fiat currency in several nations and jurisdictions.
Payment infrastructure company Mercuryo and massive self-custody provider Trust Wallet will allow customers to “off-ramp”—convert digital currency into physical money.
CEO and co-founder of Mercuryo, Petr Kozyakov, commented on the partnership by stating that “having access to a seamless off-ramp service” is just as crucial as safely storing digital assets.
A news statement states that Trust Wallet customers can utilize the service, accessible in more than 135 countries globally, to change over 30 virtual currencies into euros and US dollars.
In light of the impending implementation of the historic Markets in Crypto Assets Regulation (MiCA) by the European Union, the collaborative endeavor is yet another attempt by web3 firms to facilitate widespread adoption and expand the use cases for digital assets.
Recently, several service providers have extended their reach into Europe, including Kraken, Tether, Robinhood, and Strike, to mention a few. The area is also a hub for virtual currency banking services, with over 63 banks providing digital asset rails.
