A strategic alliance has been formed between Transak and LogX Network to streamline trading and onboarding via Transak One. The LogX Network, a ground-breaking platform created for institutional and retail trading across more than 50 blockchain ecosystems, has integrated Transak One, a one-step fiat to smart contract.
By integrating Transak’s unique and user-friendly Transak One solution into LogX’s platform, traders from all over the globe will be able to easily buy & deposit funds into smart contracts, greatly lowering the barriers to entry into the decentralized derivatives market.
By default, Transak One is the sole on-ramp on LogX and the only solution of its type in the sector. LogX Network bills itself as a “DeFi superapp,” designed to exceed conventional exchanges with features like multi-asset compatibility, gasless trading, and scalability. It provides sophisticated trading features, such as trading tokenized RWAs, leveraged prediction markets with up to 20x leverage, and perpetual futures and memecoin trading with rapid order matching.
Cryptocurrencies were traditionally needed to engage with significant smart contracts on the blockchain. Users would normally have to go through a multi-step procedure, first on-ramp to cryptocurrencies and then interacting with smart contracts using the cryptocurrency they have obtained. No cryptocurrency. no significant interaction with the smart contract. No DeFi exploration. That was altered by Transak One.
Transak One streamlines the process for LogX users by eliminating the need for intermediary cryptocurrency transactions by allowing them to deposit USDC directly into their trading account using fiat payment methods, eliminating the need for the multi-step process of purchasing $ETH, exchanging it for $USDC (while keeping $ETH for gas), and then depositing USDC into the trading account.
The Hyperlane Network for cross-chain messaging, the Avail Network for dependable data availability, and the Arbitrum Orbit Stack for high scalability are all part of LogX’s technological stack. With the support of well-known ecosystem participants like Sequoia Capital, Coinbase Ventures, Antler, and others, LogX hopes to establish itself as the preferred platform for both professional and retail traders by providing unmatched speed, security, and trading effectiveness.
The trading experience is much more seamless now that Transak One is integrated as the LogX platform’s exclusive on-ramp. Using only a few clicks, users may buy cryptocurrencies using fiat money, eliminating the need for complicated exchange transactions or external wallets.
Akshit Bordia, Co-founder of LogX Network stated:
New users may begin trading on LogX right away by purchasing cryptocurrency with their local currency. The integration provides a centralized exchange (CEX)-like experience in a decentralized setting without gas fees.
Transak is now regarded as one of the leading providers of Web3 payment infrastructure. Transak ensures that consumers can easily convert fiat currencies to cryptocurrency with its support for more than 180 countries, compliance-first architecture, and local payment methods (such as bank transfers, Apple Pay, and Google Pay).
Transak is renowned for showcasing its dedication to security and data protection beyond its geographic reach by obtaining ISO/IEC 27001 and SOC II certifications, being regulatory-friendly by obtaining licenses such as MTL in the USA, and registering with several countries.
Sami Start, CEO of Transak stated:
By removing the conventional barriers to entry into DeFi, this collaboration opens up cryptocurrency to a larger range of users, from novice retail investors to seasoned traders. Users may now convert fiat into cryptocurrency and interact with DeFi with ease thanks to LogX’s gasless and real-time pricing infrastructure and Transak’s top-notch payment capabilities.
