Swapin , an EU-regulated crypto payment provider known for its crypto-to-fiat solutions, has announced it will implement Web3 wallet integration into the Swapin web application. The new Swapin Web3 wallet integration allows for a secure connection between popular Web3 wallets without leaving the Swapin web application to send crypto.

The wallet integration will also provide a convenient payment process when using InstaPay, while reducing the risk of human error associated with sending crypto, as the company says. The wallet owner also remains in control of their private keys, which is a reason why Web3 wallets are increasing in popularity and could soon become the industry standard. At launch, the Swapin Web3 wallet will support MetaMask, Ledger, Trust, Rainbow, Crypto.

com, Argent, and Exodus wallets. Support for other Web3 wallets in the future will include Coinbase Wallet, Binance, and Tron. Additional cold storage or hot wallets may be added in the future as the demand for Web3 wallets grows.

Swapin users can utilize MetaMask and others within the web application for InstaPay at launch, with support for InstaBuy coming in the near future. About Swapin Swapin is an EU-licensed, regulated crypto-to-fiat payment processing company. The company offers a set of turn-key solutions aimed at bridging the gap between digital assets and banks.

The company allows the conversion of crypto funds into fiat by direct deposit to a selected IBAN account, avoiding excessive accounting and legal compliance struggles. Crypto influence on the payments industry The Paypers and Innopay have recently surveyed banks, payment institutions, vendors, and merchants in a bid to gauge their interest in crypto infrastructure, tokens, and services. We found out that 88% of the respondents expect crypto to have an impact on the current payment infrastructure, which is why some are already ‘testing the water’.

Despite this, however, many respondents are not yet offering crypto products or services due to unclear regulations and AML/KYC challenges. Some organisations are now offering services based on crypto technology, but they are still in the minority (24%). Our study shows that most of the respondents see various crypto-related opportunities and are keen to pursue them but are still very much at the exploratory stage: reading and researching the crypto opportunities (53%), talking with customers (43%), or preparing decision-making for usage or going to market (26%).

Crypto wallets on the rise Other companies have also observed the potential of crypto wallets, and that is why players like the Open Banking operator Plaid have ventured into the world of Web3. In October Plaid released its first crypto product, a wallet connector. The ‘Wallet Onboard’ tool allows developers to onboard consumers through a wallet linking experience with Web3.

At the same time, Plaid can enable connectivity to more than 300 self-custody crypto wallets, with one integration. .