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Transak will add a batch of 11 meme tokens for direct access. The payment service will expand purchasing opportunities for some of the hottest assets to rally in 2024.
Transak, one of the widely used on-ramps for Web3 users, will add 11 meme tokens. The decision signals wide-spreading recognition for the new asset class. Meme tokens have been added cautiously to major services, while easily grabbing the attention of social media users.
Transak started out with the most liquid memes, including DOGE, SHIB, PEPE, and BONK. The new meme tokens have a much shorter history and a faster rise to fame. Some of the tokens listed are only weeks away from their Pump.fun launch. The 11 new listings include:
- Peanut the Squirrel (PNUT)
- DogWifHat (WIF)
- FlokiInu (FLOKI)
- Book of Meme (BOME)
- Neiro (NEIRO)
- Goatseus Maximus (GOAT)
- Memefi (MEMEFI)
- Moodeng (MOODENG)
- Popcat (POPCAT)
- Brett (BRETT)
Transak’s move to list these memecoins follows that of Binance but has overlooked other cults and memes like GIGA and SPX. Those assets are still widely known but appeal to a different audience of holders. Transak still picked some of the most liquid listings with mass appeal.
As of December 20, three of those tokens, WIF, FLOKI, and BRETT, are valued above $1B. Others have taken a step back, and are still in their lower range between $500M-$700M. Among them, POPCAT and WIF stand out for their cult-like following, with strong community-driven campaigns encouraging holders to maintain their positions regardless of market conditions
Tranksak moves beyond blue-chip on-ramps, admits meme token influence
Transak picked up the latest batch of memes after noting their real impact and role as an onboarding tool to Web3. Even relatively recent tokens were picked for their direct impact on culture and their potential for the creation of communities. MOODENG and PNUT are among the first Pump.fun tokens to reach major distribution, following their wide social media impact.
“Meme coins have proven that culture and community can do good with the right tools. By listing 11 new meme coins, we hope to hand our users the option to participate in the crypto cultural ride that might pave the way for mass adoption of this revolutionary technology,” said Carlo de Luca Gabrielli, Global Director of Sales at Transak.
The latest direct onboarding of memes changes the recent practice of only listing blue chip tokens for onboarding. Relying on a mix of blue chips and stablecoins required extra steps and cost additional fees compared to directly listing meme tokens.
In 2024, many users started their crypto journeys through meme tokens as their first point of contact. Even app and fintech users may go directly for memes, instead of holding the more stagnant blue chips. Moving between assets also required additional interactions with apps or exchanges, as well as the payment of gas fees. Transak simplifies the process, requiring a single entry point for tokens on multiple chains.
Memes also offer a relatively cheap way to start accumulating crypto that is proven to be tied to a community and offers robust price action. Transak has decided to flip the script and bring memes directly to the end users while making swaps seamless and hidden.
Transak will list the tokens, which run on Ethereum, Solana, or Base, into a single app. Payment gateways include credit cards, debit cards, bank transfers, Apple Pay, and Google Pay.
Meme tokens are still relatively niche when it comes to direct ownership. Even some of the biggest assets have 50K to 100K owners based on blockchain data. Transak will bring the meme market to 8.3M users across 160 countries.
The Transak payment gateways are already linked to 350 user-facing platforms and services to facilitate easy swapping for digital assets, with API for fiat buying and selling. Transak also serves as an NFT trade checkout, with integrated KYC compliance and customer support.
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