Transak, a provider of Web3 payments, has joined forces with blockchain development platform Cometh to introduce a more streamlined solution for converting fiat currency to Layer three (L3) on Cometh's L3 blockchain, Arbitrum Orbit. This new system aims to simplify the process of purchasing crypto assets directly on Cometh's L3 blockchain.
Transak and Cometh's partnership represents a significant step forward in simplifying crypto asset transactions on L3 blockchains. By integrating Transak One and Cometh's smart contracts, users can now buy ethereum (ETH) on Cometh's Arbitrum Orbit platform, Muster, without the need for dealing with crypto and gas tokens.
This integration automates interactions at the protocol level, eliminating the need for intermediate steps like token bridging and greatly reducing transaction times. Steven Goldfeder, the co-founder and CEO of Offchain Labs, the development firm behind Arbitrum, believes that this collaboration will simplify the user experience, drive mainstream adoption, and demonstrate the power of innovative solutions built on Arbitrum's scalable infrastructure.
Previously, users had to navigate a complex process involving purchases on a Layer 2 solution and subsequent bridging to Muster, which was time-consuming and cumbersome. With this integration, Transak enables users to directly purchase cryptocurrencies using credit cards on Muster, making entry into non-fungible token (NFT) marketplaces and other blockchain interactions much faster.
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