LogX Integrates Transak One Solution for Streamlined Fiat Support

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As a seasoned researcher with a keen eye for technological advancements and their impact on the financial landscape, I find this partnership between Transak and LogX Network particularly intriguing. With my background in blockchain technology and decentralized finance (DeFi), I’ve seen firsthand the challenges users face when it comes to navigating the complex world of DeFi trading.

Transak and LogX Network have teamed up to make it easier for users to sign up and trade through Transak One, a service that seamlessly connects fiat currency with smart contracts. This collaboration boosts the liquidity system of LogX, enabling it to operate efficiently across more than 50 different blockchain networks.

Sequoia-backed LogX integrates Transak One

LogX Network, a cutting-edge, decentralized perpetuals trading platform operating on Ethereum’s popular Layer 2 network Arbitrum, has teamed up with Transak, a leading crypto-to-fiat payments processor. This collaboration will introduce Transak One, their user-friendly and innovative payment solution, to the LogX platform. As a result, traders globally can now effortlessly purchase cryptocurrencies and directly deposit funds into smart contracts on LogX.

Fragmented liquidity is under one roof of LogX✨

Our mission to unify across 50+ chains is underway! With 13+ EVM & Non-EVM compatible chains already live—including Arbitrum, Base, Mantle, Scroll, SEI, Kroma, Taiko, Optimism & BTC L2s like BOB—Solana, Ton & more are coming soon.

— LogX 🪵 (@LogX_trade) November 18, 2024

For users of LogX, instead of the common sequence of purchasing ETH, swapping it to USDC while keeping ETH for gas costs, and then depositing the USDC into their trading account, Transak One streamlines this process by allowing users to directly deposit USDC into their trading account using various fiat payment methods.

As an analyst, I’m excited to share that I’ve integrated Transak One as the sole on-ramp for our LogX platform. This means a more streamlined trading experience for users. Now, they can effortlessly purchase cryptocurrencies using fiat currencies with just a few clicks. Gone are the days of dealing with the complexity of external wallets or exchange transfers.

Akshit Bordia, a co-founder at LogX Network, emphasizes that this integration offers DeFi traders within the EVM ecosystem and beyond a completely fresh territory to explore.

Using Transak’s pioneering ability to convert fiat directly into smart contracts, users can sign up instantly and tap into our gasless, top-tier trading environment. By incorporating the finest Web3 payment systems, we are paving the way for a more seamless introduction to DeFi for global traders, fulfilling our commitment to efficiency, transparency, and scalability.

For newcomers, it’s immediately possible to purchase cryptocurrencies using their native currencies and promptly begin trading on LogX, bypassing any waiting periods. The seamless integration eliminates gas fees, thus offering a centralized exchange (CEX) quality experience within the decentralized realm.

Arbitrum Orbit developments supercharge trading on LogX

In its day-to-day functions, LogX leverages cutting-edge technologies from the Arbitrum (ARB) environment. Specifically, the technology infrastructure of LogX encompasses:

With support from well-known figures within the industry such as Sequoia Capital, Coinbase Ventures, Antler, among others, LogX aspires to establish itself as a leading destination for both casual and seasoned traders. It plans to deliver unmatched speed, security, and trading efficiency through its platform.

In simple terms, Transak has proven itself as a leading supplier of Web3 payment solutions. With services available in more than 180 countries worldwide and popular local payment methods such as Apple Pay, Google Pay, and bank transfers supported, Transak makes it easy for users to quickly convert traditional currencies into cryptocurrency while maintaining strict compliance standards.

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2024-11-28 19:14