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FollowingBanxa integrates LI.FI to simplify cross-chain asset access
Compliance legal currency-Cryptocurrency payment infrastructure company Banxa has integrated cross-chain bridging and liquidity infrastructure entity LI.FI. The integration aims to simplify access to more than 60 cutting-edge digital assets on the blockchain through a single transfer. This cooperation allows users to directly convert from fiat currencies to selected on-chain assets without the need to manually convert or bridge assets. This development will leverage LI.FI's liquidity infrastructure and eliminate the technical complexity of cross-chain transfers.
By integrating LI.FI, Banxa users can directly exchange from fiat currency to any token on more than 60 blockchains. With LI.FI, Banxa's more than 400 partners and their users now have access to stablecoins, tokenized stocks and other on-chain assets in more than 180 countries/regions.
LI.FI integration improves cross-chain asset accessibility on Banxa
In the context of the continuous evolution of the digital asset world, the integration of LI.FI and Banxa highlights the market's growing demand for efficient, seamless on-chain experiences. As a result, Banxa's ecosystem of up to 400 partners will leverage LI.FI's mobility routing mechanism. The integration allows users to purchase more than 300 cryptographic assets and other on-chain assets, and the platform automatically determines the optimal path in the background.
At the same time, the intent-based execution model eliminates the need for users to individually purchase, redeem, and bridge assets before moving to the target chain. In addition, LI.FI's infrastructure has processed more than US$81 billion in transfers, involving more than 100 million transfers. The platform also reported a uptime of nearly 99.9% and an execution success rate of over 98%.
In addition, LI.FI provides enterprise-class reliability for applications running on more than 65 blockchain networks. These capabilities are expected to improve transfer efficiency and support broader accessibility of assets across chains. In addition, Banxa has been working for more than a decade to develop regulated infrastructure that connects digital assets and traditional finance.
Jointly working to simplify fiat to chain transfers, LI.FI CEO stated
While discussing this development, LI.FI CEO and co-founder Philipp Zentner mentioned that consumers should not have to understand bridges, blockchain ecosystems, or liquidity routing in order to obtain the assets they need. He added that the integration expands access to more chains, a wider range of assets and deeper liquidity, allowing the platform to provide a relatively seamless experience for users seeking diversified opportunities on the chain. Finally, by combining Banxa's compliant fiat gateway with LI.FI's cross-chain liquidity ecosystem, the two companies aim to broaden the accessibility of assets on the chain through a simplified single point of operation experience.
