Crypto news

zkSync integrates Banxa’s off-ramp

04 July 2022

Banxa, the leading global on-and-off ramp solution for Web3 is excited to announce its off-ramp integration with zkSync, allowing users to sell USDT and USDC on the zkSync chain. zkSync has joined forces with Banxa and is one of the first to integrate the in-demand solution.

zkSync is a Layer 2 protocol that significantly lowers fees to a fraction of traditional pricing and halves transaction times, creating flexibility and a multitude of opportunities overall enhancing user experience.

This integration extends beyond the already integrated on-ramp in December 2021 allowing zkSync-based applications, wallets and users to seamlessly facilitate withdrawals of USDT and USDC using Banxa’s large network of local bank transfers.

Banxa’s off-ramp integration with zkSync provides enhanced access to the scalable L2 solution by removing barriers such as friction and complexity for both users and developers helping to scale the Ethereum based ecosystem and opening up the market for mass adoption of web3.

Banxa is now leading the industry by providing customers the opportunity to sell their USDT and USDC and receive bank transfer payouts directly into their accounts  in AUD, CAD, GBP and EUR with USD coming very soon!

“We are delighted to integrate the first stablecoin offramp into the zkSync platform with Banxa, providing our users with greater control over their assets and paving the way for more use-cases than ever.” said Will Macfie, Ecosystem Lead for zkSync.

“We are excited to provide zkSync with the ability to offer off-ramping to its developers and users, utilizing our strong local payment network, accelerating scalability and mass adoption of L2s. With plans to expand our offering into more key markets such as the US, we are committed to bringing new opportunities to the zkSync ecosystem.” said Holger Arians, CEO, Banxa.

About zkSync

zkSync is an open-source Layer-2 blockchain that eliminates Ethereum’s costly gas fees, scaling constraints, and performance barriers using zero-knowledge proofs. Built by a distributed team of leading cryptographers and engineers, zkSync is designed to unlock the full potential of blockchain technology while scaling the core values of Ethereum.

Bootstrapped by initial funding from the Ethereum Foundation, zkSync has powered over 10 million transactions, fuels major web3 applications including Argent and Gitcoin, and recently launched the first EVM compatible zero-knowledge rollup allowing developers to deploy general-purpose applications written in Solidity.

  Off-ramp your stablecoins here!