Transak Integrates with Chainlink to Connect Smart Contracts with Fiat / Crypto Payment Gateways

Transak is proud to announce an integration with Chainlink, the market-leading decentralized oracle network, that will make our fiat/crypto onramp aggregator solution available to smart contracts. Through Chainlink’s external adapter technology, Chainlink nodes can bi-directionally connect decentralized applications directly to Transak’s API, allowing dApps to initiate the buying and selling of crypto using traditional fiat payment gateways. It also allows Transak’s API to trigger on-chain transactions in DeFi protocols. Transak’s API currently supports over 200 cryptocurrencies and fiat payments in 10 fiat currencies in 28 countries.

Bringing Traditional Payment Methods to Smart Contracts

An oracle is a piece of middleware that connects smart contracts to external systems. Chainlink is a decentralized oracle network that extends the security guarantees of a smart contract, allowing it to take in data and send commands to external systems in a highly secure and reliable manner. This brings end-to-end functionality and security to decentralized applications.

While there are a plethora of new opportunities created by connecting smart contracts to Transak’s crypto/fiat gateways, we have identified three initial use cases that bring immediate value to crypto users and decentralized applications.

Recurring crypto to fiat and fiat to crypto payments

Real-World Examples include: Allowing people to withdraw a percentage of their salary automatically from their crypto wallet to their fiat bank account every month/quarter/or instantly. Similarly, companies can use centralized data, such as from wakatime, to pay developers automatically based on the number of hours they spent on the project

Crypto to fiat payments triggered by on-chain data

Real-World Examples: DeFi protocols can make interest payments in fiat directly to the user’s bank account. Additionally, service providers can be paid in fiat using crypto funds stored in a smart contract, e.g. a DAO paying for office space.

Automated on-chain allocation of funds based on fiat/crypto payments

Real-World Examples: Receiving fiat payments to a smart contract, such as a DAO, and automatically allocating it into a specified crypto portfolio.

There are numerous other use cases that open up for smart contracts by combining the fiat/crypto on-ramps of Transak and the secure and reliable connectivity of Chainlink’s decentralized oracle network.

“This integration is one of those moments when you realize that smart contract technology is not just a theoretical construct used by crypto natives, but it can actually interface with the real world. Through an integration with Chainlink, smart contracts can now use Transak to enable fiat deposits and withdrawals from mainstream users who don’t own or understand crypto, substantially lowering the barrier to entry for larger retail adoption of blockchain applications.

Sami Start, Transak Co-Founder and CEO

About Transak

You can use Transak to buy over 200 cryptocurrencies in 28 countries (more coming soon). Check it out here:

To learn more about Transak, visit:

Applications can integrate their own fiat gateway with Transak here:

About Chainlink

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.

Global fiat on/off-ramp for apps and wallets. Try it at Integrate at