ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Altcoins

Chainlink and Transak Join Forces to Bridge Fiat and Crypto Payment Gateways

by Olayode Yusuff
May 13, 2020
in Altcoins, Blockchain, Finance
0
Chainlink
0
SHARES
140
VIEWS
Share on FacebookShare on Twitter

The prestigious financial company, Transak has on Monday, May 11, announced its incorporation with Chainlink, a widely respected blockchain oracle network. The incorporation is done in a bid to make Transak’s fiat/crypto onramp aggregator solution available to smart contracts.

In a statement released by Transak, Chainlink is one of the market-leading decentralized oracle network, hence it will influence the availability of Transak’s fiat and crypto which is presently available on a one-sided aggregator to smart contracts.

Transak’s API offers support for more than 200 cryptocurrencies and accepts 10 fiat currencies in close to 30 countries.

It is believed that the Chainlink, nodes through its external adapter technology, will in two ways connect decentralized applications directly to Transak API, this will birth the use of traditional gateways for the purchase and selling of crypto by dApps.

Making of Traditional Payment in Smart Contracts

The inability to indigenously access external systems remains a major setback for smart contracts, this factor prevents them from linking with fiat payment gateways, thereby serving as an adversary to potential crypto users as a large percent of the world population utilizes fiat currency as their prime exchange value.

Although, the connection of smart contract to Transak’s crypto/fiat gateways would birth quite a number of opportunities, there are no doubt three exceptional use cases that will bring instant value to crypto users and decentralized apps.

This use cases include recurring crypto to fiat and fiat to crypto payments, Automated on-chain allocation of funds based on fiat/crypto payments and Crypto to fiat payments triggered by on-chain data

Tags: ChainLinkChainlink NewsTransak
No Result
View All Result

Highlights

Binance CEO Right about Ethereum Price Prediction

Full-Time Crypto Trader Lists 3 Coins That Will Overtake XRP Soon

Bitcoin is the Absolute Apex Predator in Financial Markets – Morgan Creek Digital Cofounder

Still Scare of Bear? Bitcoin and Ethereum Whales Have a Surprise for You

Germany-Based Software Company to Spread Adoption of IOTA Technology

Ex-Goldman Sachs Executive to Be Named New SEC Chair. Will Ripple Benefit?


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us