Banxa, a compliant fiat-to-crypto payment infrastructure firm, has integrated LI.FI, a cross-chain bridging and liquidity infrastructure entity. The integration aims to streamline access to cutting-edge digital assets across over 60 blockchains via a single transfer. The partnership permits users to shift from fiat to on-chain assets of choice without any manual swapping or bridging of assets. The development is poised to utilize the liquidity infrastructure of LI.FI to remove technical complexities of cross-chain transfers.
LI.FI Integration Improves Cross-Chain Asset Accessibility on Banxa
LI.FI‘s integration into Banxa underscores the growing interest in effective and seamless on-chain experiences amid the continuous evolution in the world of digital assets. Thus, Banxa’s ecosystem of up to 400 collaborators will leverage the liquidity routing mechanism of LI.FI. The integration permits consumers to buy more than 300 crypto assets as well as other assets on-chain, with the platform automatically determining the most effective route in the background.
Simultaneously, the intent-based execution model eliminates the requirement for separate moves like buying, swapping, and bridging assets ahead of moving to the intended destination. Additionally, LI.FIs infrastructure has reportedly processed over $81B in transfer volume across more than 100M transfers. The platform also reported nearly 99.9% uptime as well as over 98% execution success.
Apart from that, LI.FI also provides enterprise-scale reliability for apps working across over sixty-five blockchain networks. The respective capabilities are anticipated to enhance transfer efficiency in addition to supporting wider accessibility of assets across chains. Moreover, Banxa has worked for over a decade on the development of regulated infrastructure linking digital assets with conventional finance.
Joint Effort Streamlines Fiat-to-On-Chain Transfers, Says LI.FI CEO
While discussing the development, LI.FIs CEO and Co-Founder, Philipp Zentner, mentioned that consumers should have to comprehend bridges, blockchain ecosystems, or liquidity routes just to get a required asset. He added that the integration widens access to more chains, a broader asset range, and deeper liquidity, letting platforms provide a relatively seamless experience for those looking for diverse on-chain opportunities. Ultimately, by merging the compliant fiat gateway of Banxa with the cross-chain liquidity ecosystem of LI.FI, both companies attempt to widen the accessibility of on-chain assets via a streamlined one-tap experience.
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