Trust Wallet onboards Mercuryo for crypto-fiat swaps

Trust
Wallet
and
Mercuryo
have
partnered
to
power
crypto
off-ramps
for
more
than
30
digital
assets. 

While

cryptocurrencies
allow
participants
to
store
value
in
virtual
assets
built
atop
decentralized
networks,
many
real-world
payments
still
require
fiat
vehicles
for
settlement
in
many
countries
and
jurisdictions.

Giant
self-custody
provider
Trust
Wallet
and
payments
infrastructure
firm
Mercuryo
have
teamed
up
to
enable
users
to
turn
their
digital
coins
into
real-world
money,
a
process
dubbed
“off-ramping.” Commenting
on
the
collaboration,
Mercuryo
co-founder
and
CEO
Petr
Kozyakov
said,
“having
access
to
a
seamless
off-ramp
service”
is
just
as
important
as
securely
storing
digital
assets.

According
to
a
press
release,
Trust
Wallet
users
can
convert
over
30
virtual
currencies
into
euros
and
U.S.
dollars
through
the
service,
which
is
available
in
over
135
countries
worldwide.

The
joint
initiative
marks
another
effort
by
web3
companies
to
support
mass
adoption
and
increase
digital
asset
use
cases,
particularly
across
Europe,
as
the
bloc’s
landmark
Markets
in
Crypto
Assets
Regulation
(MiCA)
kicks
in
soon. 

Other
service
providers
like

Strike,

Tether,

Robinhood,
and

Kraken,
to
name
a
few,
have
expanded
services
into
Europe
in
recent
months.
The
region
is
also
a
hotspot
for
virtual
currency
banking
services,
with
over
63
institutions
offering
digital
asset
rails,
as
crypto.news

reported.