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

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

Trust Wallet, a self-custody provider, and Mercuryo, a payments infrastructure firm, have teamed up to allow users to convert their digital coins into real-world money, a process known as “off-ramping.” Mercuryo co-founder and CEO Petr Kozyakov highlighted the importance of having access to a seamless off-ramp service alongside 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 this service, which is available in over 135 countries worldwide.

The joint initiative is another effort by web3 companies to support mass adoption and increase digital asset use cases, particularly across Europe, as the Markets in Crypto Assets Regulation (MiCA) is set to take effect soon.

Other service providers have also expanded their services into Europe in recent months. The region has become a hotspot for virtual currency banking services, with over 63 institutions offering digital asset rails.

For more updates on cryptocurrencies, investing, and finance, explore the latest news on Global Crypto News.

Post Views: 10