Sami Start is the Co-Founder and CEO of Transak, a leading fiat-to-crypto on-ramp provider that enables seamless digital asset transactions across 145+ countries. Under his leadership, Transak has grown to serve over 2 million users globally, offering support for 100+ cryptocurrencies and 75+ blockchains.
Prior to founding Transak, Sami was selected as a member of the Entrepreneur First (EF) 10th cohort, a global talent investor program that supports exceptional individuals in building deep-tech startups.
His professional background includes roles as a software engineer at Smarkets, a developer at Optiver, and a Technology Evaluation Executive at STFC. These experiences in high-frequency trading and B2C fintech have significantly influenced his passion for simplifying fiat onboarding into the crypto space.
Sami holds a Bachelor of Science (BSc) in Physics from Imperial College London and a Master of Science (MSc) in Computer Science from University College London (UCL).
How did you first get into crypto, and was Transak your first venture in the space?
I’m originally from London and studied physics and computer science. I started out in high-frequency trading, then moved to a fintech firm called Smarkets, which focused on prediction markets.
While I was there, I saw how much time and effort went into things like KYC, deposits, and managing global payment rails. It took up over half the company’s resources. That’s when I started thinking about how to make onboarding more scalable. Around the same time, I was experimenting with Ethereum, smart contracts, and investing in crypto as a hobby.
Initially, I was more focused on fixing onboarding for traditional fintechs. But by 2019, as people began using dApps, I saw how painful the process was — setting up a wallet, joining an exchange, transferring funds. Some dApps even had step-by-step guides on their websites. That’s when the idea of building a fiat on-ramp for blockchain apps clicked.
Later that year, I met my co-founder, Yeshu, who was working on similar problems. We joined the Consensys accelerator in New York and launched the product in 2020, just in time for DeFi Summer.
Since that early launch, has your mission changed?
Yes, quite a bit. At first, we focused almost entirely on dApps and wallets. The broader vision was always there, but fintechs and traditional players weren’t ready for fiat on-ramps at the time.
Now, everything is shifting. Web2 and web3 are merging, and we see ourselves as making all finance apps more accessible by embedding blockchain infrastructure in the backend while keeping the user experience simple and familiar.
Have stablecoins played a role in that shift?
Definitely. They now account for over 30% of our volume. We’ve worked with them for years, but recently there’s been a big uptick in interest, especially from non-crypto companies like remittance apps, neobanks, and investing platforms.
Stablecoins just make sense. They’re still USD, but transferred more efficiently using blockchain rails. Web3 apps also want to look and feel more like fintech platforms now. Over time, we think people won’t talk about web2 or web3 — it’ll all just be “finance”.
You’ve integrated with heavyweights like MetaMask, Phantom, and Uniswap. What do you look for in ecosystem partners?
Size and an active user base help, but more important is user intent. For example, MetaMask users often need to top up their wallets, perfect for an on-ramp. But platforms like Aave attract users who already hold crypto, so there’s less immediate need.
We also look for partners who treat blockchain as backend tech. They want a clean, seamless experience for users — something that feels like a regular app. And finally, they need to be compliant and trustworthy. That’s non-negotiable.
Are there any trends in user behaviour you’ve picked up across those integrations?
For sure. DeFi Summer was driven by yield farming, then came NFTs, and now it’s memecoins. But throughout all of that, there’s been consistent demand for high market cap assets like BTC, ETH, SOL, XRP, and stablecoins.
What’s changed is why people engage. It used to be mostly speculative. Now it’s more about utility — staking, cross-border payments, and onchain investing. That’s a positive shift.
Where are you seeing the most traction geographically?
The US is now our biggest market with over 50% of our traffic. That wasn’t always the case, but it’s grown fast, especially recently. Other regions are still strong, but the US has really pulled ahead.
You’re licensed in several regions. Which has been the toughest to navigate?
The US, without a doubt. You have to go state by state, and each one has its own requirements. There’s some overlap, but it’s still a huge effort.
We’re also licensed in Europe, the UK, Canada, Australia, and India. Those were a bit more straightforward. But honestly, licensing is just one part of the puzzle — banking is often harder.
In some places, like the US or India, banks are still hesitant to work with crypto firms. So even if you’re regulated, you might still hit roadblocks.
How do you see regulations evolving in the US and EU?
The US Genius Act is a real turning point. It’s brought clarity around stablecoin issuance, and now big institutions — Fidelity, even the state of Wyoming — are getting involved. They don’t move without regulatory certainty, so when they do, it’s a big deal.
It’s a huge opportunity, and I think most people are underestimating how important it is. We’re talking about potentially trillions moving through stablecoins.
In Europe, MiCA is also bringing more structure. There’s added compliance, but it brings in more serious players, which is worth it.
The UK has been slower. The recent FinProm rules have been a bit of a setback with things like cooling-off periods and intrusive forms. But regulators seem open to revisiting that, which is promising.
Do you have an in-house legal team navigating all of this?
Yes, absolutely. We have a Head of Compliance at the leadership level, plus local compliance officers for each region, including the US, Europe, the UK, and Hong Kong. They work closely with product and operations to ensure everything is implemented correctly.
But it’s not just about having licences — it’s about making sure the product behaves the way regulators expect. That’s part of what we offer our partners: a compliance framework they don’t have to build themselves.
Your Transak One product lets users go from fiat straight into smart contracts. Was that difficult to build?
Very. The goal was to make something complex feel simple. Without it, a user might need to buy USDC, then ETH for gas, and then manually interact with a smart contract.
Transak One bundles all of that into a single step. Under the hood, we execute the smart contract, so to the user, it’s just a one-click experience. It’s a product built on top of our core on-ramp.
Building it meant we had to generalise smart contract execution, design intuitive dev tools, and make sure it integrated smoothly with partner apps. But the outcome is a web2-feeling product running on web3 rails.
What’s next on the roadmap?
We’re launching new local payment methods in the US, Canada, and Australia. India and Hong Kong are coming soon — we already have the groundwork in place.
We’re also making the product more modular. Right now, it’s mostly widget-based, but we’re shifting towards APIs and white-labeled flows. That means deeper integration with partners, from remittances to investing to neobanking.
The more modular we get, the more flexible and invisible the experience becomes. That opens the door to entirely new markets.