Decentralized finance (DeFi) project 1inch Network has just integrated the fiat cryptocurrency purchase service Transak into its 1inch Wallet, Yahoo Finance has reported.
Sergej Kunz, co-founder of 1inch, has said:
"The addition of Transak as a fiat on/off ramp provider enables users to choose from a wider variety of tokens on more networks available to be bought for fiat."
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He has added that the integration of Transak is part of a larger 1inch Network strategy aimed at connecting more such providers to the wallet. According to him, the project will eventually become a "fiat gateway aggregator."
The 1inch Network team launched the Android version of its wallet last month, while the app for iOS users was released in April last year.