Solana-Based Wallet Phantom Adds Web3 Payments Infrastructure Transak 

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk, Bitcoin Magazine and Bitcoin.com.

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Last updated:

December 5, 2024 15:22 EST

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Solana-based non-custodial cryptocurrency wallet Phantom announced on December 5 that it has integrated Web3 payments provider Transak to simplify crypto access and improve the user experience.

The wallet update will allow Phantom users worldwide to make crypto purchases with transaction limits of up to $75,000.

Solana Transactions via Phantom Increase

Meld, a platform specializing in on-ramp and off-ramp payment solutions, led the integration of Transak. The firm claims that Solana transactions via Phantom have increased since the update.

SOL transactions now account for 75% of Transak’s Solana activity. Phantom remains a key player in the Solana ecosystem.

The Solana wallet continues to dominate the non-custodial space, with millions of users in over 100 countries. The wallet ranks among the top global wallets.

While originally built for the Solana blockchain, Phantom supports Ethereum, Polygon, and Bitcoin. By integrating Transak, Phantom said, it continues to advance Web3 accessibility, making it easier for users to engage with digital assets across multiple blockchains.

Phantom Safe from Solana Web3.js Bug

On Tuesday, Phantom reassured its users that it is unaffected by a critical vulnerability recently discovered in the Solana/web3.js library.

The exploit, found in versions 1.95.6 and 1.95.7, involved malicious code designed to steal private keys. This flaw severely threatened applications and developers relying on the compromised versions, potentially exposing user funds to theft.

Phantom’s security team confirmed in a statement on X that the wallet provider has never used these versions in its infrastructure, ensuring its users remain safe.