Banxa and LI.FI Connect Fiat Payments to 60+ Blockchain Networks

Banxa, a fiat-to-crypto payments infrastructure company, has integrated LI.FI, a cross-chain bridging and liquidity infrastructure entity. The integration aims to streamline access to cutting-edge digital assets across more than 60 blockchains through a single transfer. The partnership allows users to switch from fiat to preferred assets on-chain without having to manually swap or bridge assets. The development is poised to use LI.FI’s liquidity infrastructure to remove the technical complexity of cross-chain transfers.

LI.FI integration improves asset accessibility across the chain on Banxa

The integration of LI.FI into Banxa underlines the growing interest in effective and seamless on-chain experiences amid the continued evolution in the world of digital assets. For example, Banxa’s ecosystem of up to 400 employees will leverage LI.FI’s liquidity routing mechanism. The integration allows consumers to purchase more than 300 crypto assets and other assets on-chain, with the platform automatically determining the most effective route in the background.

At the same time, the intent-based execution model eliminates the need for separate steps such as purchasing, exchanging, and bridging assets before moving them to their intended destination. Additionally, LI.FI’s infrastructure has reportedly processed more than $81 billion in transfer volumes across more than 100 million transfers. The platform also reported an uptime of almost 99.9% and an execution success of more than 98%.

In addition, LI.FI also provides enterprise-level reliability for apps operating over more than sixty-five blockchain networks. The respective capabilities are expected to improve transfer efficiency, in addition to supporting broader asset accessibility across chains. Furthermore, Banxa has been working for more than a decade to develop a regulated infrastructure that links digital assets to conventional finance.

Joint effort streamlines transfers from Fiat to the chain, says LI.FI CEO

Discussing the development, Philipp Zentner, CEO and co-founder of LI.FI, said consumers need to understand bridges, blockchain ecosystems or liquidity routes to get the assets they need. He added that the integration expands access to more chains, a broader asset range and deeper liquidity, allowing platforms to provide a relatively seamless experience for people looking for diverse on-chain opportunities. By merging Banxa’s compliant fiat gateway with LI.FI’s cross-chain liquidity ecosystem, both companies ultimately aim to increase the accessibility of on-chain assets through a streamlined one-tap experience.