Mercuryo Integrates with zkSync for Fiat-to-Crypto Conversions on Ethereum

Monday, 29/04/2024 | 10:07 GMT by Tareq Sikder

This integration cuts out the need to bridge assets from Ethereum's mainnet.

The expected benefits include decreased gas fees, expedited transaction speeds, and fortified security protocols.

The Global payments infrastructure provider Mercuryo has announced its integration with zkSync, a Layer 2 scaling solution for Ethereum. This integration introduces an intuitive on-ramp service facilitating the conversion of fiat currency into digital tokens for users of the protocol.

Transaction Simplification and Cost Efficiency Enhancement

The integration aims to enhance the user experience within applications operating on the zkSync protocol. Specifically, it enables these applications to offer direct fiat-to-crypto purchases within their interface.

Omar Azhar, Head of Business Development at Matter Labs, Source: LinkedIn

Mercuryo's involvement as a payments provider is anticipated to streamline transactions and render them more cost-effective by eliminating the necessity for applications to bridge assets from the underlying Ethereum network. This is expected to result in benefits, such as reduced gas fees, faster transaction speeds, and enhanced security protocols inherent to the zkSync protocol.

"Frictionless transfer and conversion of money and cryptocurrencies is a critical piece of the puzzle for mainstream adoption and increased usage of blockchain technology. We're excited to see a leading on-and-off-ramp solution such as Mercuryo integrate with zkSync and be available to continue to provide an unmatched user experience on zkSync," said Omar Azhar, the Head of Business Development at Matter Labs.

On-Ramp Solution Facilitates Access to Layer 2 Scaling

Arthur Firstov, Chief Business Officer at Mercuryo, Source: LinkedIn

Moreover, Mercuryo's on-ramp solution is poised to simplify access to zkSync, a leading Layer 2 scaling solution. This simplification potentially reduces the dependency of most user transactions on direct interaction with the Ethereum mainnet , thereby, potentially improving efficiency within the ecosystem.

"We are delighted to play a part in the transformative technology that zkSync embodies and make it available to a greater number of users as a result of the simplicity and intuitive nature of our on-ramp services," said Arthur Firstov, the Chief Business Officer at Mercuryo. "As a key infrastructure provider, we are providing users easy access to a flourishing ecosystem that has so much to offer."