Transak and Cometh Launch Industry-First Fiat-to-Layer 3 Crypto Onboarding Solution

Transak, a Web3 payments provider, has teamed up with blockchain development platform Cometh to introduce a streamlined fiat-to-Layer three (L3) onboarding solution. This new system reportedly simplifies the purchase of crypto assets directly on Cometh’s L3 blockchain, Arbitrum Orbit.

Transak Partners With Cometh to Simplify Fiat-to-L3 Crypto Transactions

According to the company’s announcement, Transak and Cometh‘s partnership marks a significant advancement in simplifying crypto asset transactions on layer three (L3) blockchains. The integration enables users to buy ethereum (ETH) on Muster, Cometh’s Arbitrum Orbit platform, without dealing with crypto and gas tokens.

By automating interactions directly at the protocol level through Transak One and the Web3 development platform Cometh’s smart contracts, the solution eliminates the need for intermediate steps like token bridging, significantly cutting down transaction times.

According to Steven Goldfeder, co-founder and CEO of Arbitrum’s development firm Offchain Labs, the collaboration “simplifies [the] user experience, unlocks mainstream adoption potential, and showcases the power of building innovative solutions on Arbitrum’s scalable infrastructure.”

Goldfeder added:

It marks a significant milestone in the growth of our Layer 3 ecosystem.

Before this integration, users had to navigate a multi-step process involving purchases on a Layer 2 solution and subsequent bridging to Muster, which was cumbersome and time-consuming. Transak says users can now directly purchase cryptocurrencies using credit cards on Muster, making entry into non-fungible token (NFT) marketplaces and other blockchain interactions a whole lot faster.

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