Banxa Integrates with ZenGo Wallet to Provide Self-Custodial Onramp Alternative to Exchanges

With all eyes on centralized exchanges after the collapse of Celsius, Voyager, and now FTX, –  ZenGo and Banxa have partnered “to enable the most simple and trusted crypto onramp directly into the industry’s most secure crypto wallet with no private key vulnerability.”

This partnership will “enable a Banxa-powered, frictionless & secure payment experience for ZenGo’s 700,000+ users across 150+ jurisdictions.”

Banxa now claims that it “becomes the preferred on-ramp provider, allowing ZenGo users to securely purchase crypto using the widest range of global and local payment methods.”

Within just a few minutes of any crypto purchase, the customer’s digital assets “will arrive and be safeguarded by ZenGo’s industry-leading MPC security infrastructure.”

ZenGo is accessible to users of all backgrounds and experience levels, “as its wallets do not require prior knowledge of crypto to use and include live 24/7 in-app support.”

Banxa also claims that it  “provides a fast and easy KYC process to ZenGo’s users and full handling of regulatory compliance.”

Banxa CEO Holger Arians said:

“Banxa is thrilled to partner with an industry-pioneering company like ZenGo that places such a premium on security, which is now more important than ever. Banxa’s mission is to provide a more accessible means for global and local payment options, and I am confident ZenGo users will reap the benefits of seamless and secure digital asset transactions.”

ZenGo is the first consumer-focused Web3 crypto wallet “powered by multiparty computation (MPC), powering guaranteed account recovery, no seed phrase vulnerability, and a built-in web3 firewall.”

In April 2022, ZenGo became “the first multichain Web3 crypto wallet with account-phishing protection and seamless wallet recoverability, deploying their ClearSign web3 firewall to industry acclaim.”

Banxa serves more than 100 million users “through major crypto exchanges, wallets, and DeFi apps.”

Offering risk and compliance regulatory services, Banxa is “supported by 80 different coins and chains, which continue to grow through its plentiful partner network.” Partners include industry heavyweights “such as Binance, KuCoin, dYdX, OKX, and other emerging Web3 companies.”

The partnership will ‘launch with a 0% fee purchase promotion for new users up to USD $200, and a 0.1% fee on stablecoin purchases via wire transfer.”

As noted in the update, Banxa’s mission is “to accelerate the world to Web3 with its leading global on-and-off ramp solutions.”

Through its extensive network of local payment solutions paired with the required crypto licenses, Banxa “gives its partners and projects access to global audiences with less friction and higher conversions.”

Banxa has “a global team of Web3 natives – with operating headquarters in the USA, Europe, and APAC regions.”

As mentioned in the announcement, ZenGo is “the next-gen wallet to secure your crypto: More secure than a hardware wallet, more trustworthy than an exchange.”

ZenGo claims it has “never been hacked, thanks to guaranteed account recovery, no seed phrase vulnerability, and a built-in Web3 firewall.”

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