Ethereum zkRollup protocol Loopring Partners with RegTech Platform BANXA

Payment service provider (PSP) and RegTech platform BANXA has teamed with Loopring, an Ethereum Zero-Knowledge Rollup (zkRollup) protocol that facilitates scalable, secure exchanges and payments worldwide.

The goal of the partnership is to provide access to a scalable Layer 2 (L2) solution. Gaining access to L2 significantly lowers fees to a fraction of traditional pricing while enhancing the user experience.

According to BANXA, its range of currencies and payment methods, including credit card and bank transfers, will enable Loopring’s users to purchase on L2 easily.

“Friction and complexity are two of the biggest challenges faced within the crypto ecosystem, and we aim to provide solutions that will remove these barriers. We’re proud to announce this new partnership with Loopring to accelerate secure access to L2 for the Ethereum network. By working together, we can provide innovative solutions for the crypto market,” said Jan Hartmann, Strategy at Banxa Labs.

“We’re excited to be partnering with Banxa as we aim to provide users with flexibility and low cost direct onboarding to L2. Security and sovereignty have been our top priority from day one. We are excited to offer our premium user experience of accessibility and security through the accelerated access of L2 to Banxa customers,” said Steve Guo, CEO of Loopring.