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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.