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In PS, select all then refine edge.

 

I managed to do it just about perfectly with only one side effect. All the black is gone too. But if you are ok with gray lines, than here you go:

 

Whisper, your's looks like my first attempt the corners are sharp and not rounded.

 

In PS, just Ctrl Click the image, then refine the edge (as Whisper said) and contract by, say, 10% and Feather by 50%.

 

Or what i did was Select>Color Range>Localized Clusters and then i set the range to 100% and the fuzziness to 100%

 

You could magic wand the transparent part and modify the selection with a 1 maybe 2 px feather?

 

unfortunately that is indeed the result of the most efficient and best way to remove the white.

 

I pick Whisper's... haha. Most refined and retains the original quality from what I can see.

 

When did he ever say they needed to be round?

 

Yeah whispers is the best so far ;D