Banxa, a leading payment service provider in the digital assets industry, has announced its integration with zkSync, a zero-knowledge scaling protocol for Ethereum. This integration will allow Banxa to offer direct fiat on-ramps and off-ramps to zkSync's Layer 2 wallet, bypassing the need for transactions through the Ethereum mainnet. This move is expected to reduce costs and improve transaction speed and user experience, as users can pay for gas in popular ERC20 tokens like USDC. Banxa aims to onboard millions of new users by simplifying access to Layer 2 solutions. Banxa is headquartered in Melbourne, Australia, with a mission to provide equitable financial access globally. Matter Labs, the developer of zkSync, focuses on enhancing blockchain adoption through zero-knowledge proof technology.

<figure><img src='https://sosovalue.s3.us-west-2.amazonaws.com/sosovalue/web3image/24/12/19/b539t0nk6oer.png'/></figure><h4>Banxa integration of zkSync will offer access to the industry-leading zero-knowledge scaling protocol, accelerating secure access to Layer 2 (L2) for the Ethereum network</h4><p>Banxa, the world’s first listed payment service provider (PSP) and RegTech platform for the digital assets industry will integrate its fiat on-ramp platform with zkSync’s wallet.</p><p>Banxa will eliminate the expensive intermediate step of depositing and withdrawing through Ethereum mainnet by supporting direct fiat onramp and offramps to zkSync’s Layer 2 wallet. Transacting on zkSync offers many UX improvements beyond lower gas costs; transactions confirm instantly, and users may pay for gas in any popular ERC20 token such as USDC. Additionally, a direct onramp will make it easier for clients of Banxa to onboard millions of new users.</p><h4>About Banxa</h4><p>Banxa Holdings Inc. (TSX-V: BNXA) (OTCQX: BNXAF) (FSE: AC00) powers the world’s largest digital asset platforms by providing payments infrastructure and regulatory compliance across global markets. Banxa’s mission and vision is to build the bridge that provides people in every part of the world access to a fairer and more equitable financial system. Banxa is headquartered in Melbourne, Australia, with European headquarters in Amsterdam, the Netherlands.</p><p>For further information, go to <a href="http://www.banxa.com" target="_blank">www.banxa.com</a></p><h4>About Matter Labs and zkSync</h4><p>Matter Labs is a mission-driven project rooted in fundamental crypto values. Its purpose is to break financial barriers and enhance the world’s freedom — by accelerating the mass adoption of public blockchains. As the pioneer of Zero-Knowledge Proof technology on Ethereum, their scaling protocol, zkSync, uses advanced math to scale Ethereum in a fully trustless manner. Matter Labs believes that cryptography and blockchain are essential technologies for protecting and fostering freedom globally.</p><p>Matter Labs, a remote-first organization, is <a href="https://boards.eu.greenhouse.io/matterlabs" target="_blank">actively hiring</a>.</p><img src=''/><hr /><p><a href="https://blog.matter-labs.io/banxa-announces-layer-2-fiat-on-ramping-with-zksync-9f4e346b84cc" target="_blank">Banxa Announces Layer 2 Fiat On Ramping with zkSync</a> was originally published in <a href="https://blog.matter-labs.io" target="_blank">Matter Labs</a> on Medium, where people are continuing the conversation by highlighting and responding to this story.</p>

Banxa Integrates zkSync for Direct Fiat On-Ramping to Ethereum Layer 2