Banxa enables Bitcoin on Lightning on near-instant on-ramp in partnership with Zero Hash

August 29, 2024 at 09:00 AM EDT

CHICAGO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Banxa, the global Fiat-to-Crypto On & Off Ramp, today announced that it has expanded its partnership with Zero Hash to include Bitcoin on the Lightning Network, enabling Banxa to offer near instant and low-cost fiat-to BTC on-ramping.

With a $1.2T market cap (as of August 2024), Bitcoin is the most popular and global digital asset. The Lightning Network aims to expand Bitcoin’s accessibility and adoption by building technical improvements on top of the Bitcoin Network that increase transaction speeds and accessibility.

Zero Hash abstracts the complexity of using Lightning for Banxa, providing the full stack technical and regulatory infrastructure to seamlessly embed bitcoin transfers on the Lightning Network. Zero Hash manages the complexities including bridging assets across networks.

Banxa’s on-ramp has simplified access to crypto and web3, enabling companies including Metamask and OKX to offer their users the ability to seamlessly access the on-chain economy. Building on its existing partnership with Zero Hash, Banxa has added the Lightning Network to enable more options for customers. Banxa also plans on launching Universal Money Addresses (UMAs) through Zero Hash, further simplifying access to the crypto economy. UMAs are designed to enable customers to create user-friendly and customizable addresses {for example $satoshi@banxa.com}, to send and receive Bitcoin 24/7/365, and as easy as sending an email.

“Zero Hash has been a trusted partner of Banxa for over 4 years, and we are delighted to add the Lightning Network to deliver even faster and cheaper fiat-to-crypto on and off-ramps for Banxa’s customers who want to use Bitcoin,” said Josh D'Ambrosio, Chief Commercial Officer at Banxa.

“Getting on the Bitcoin network involves the process of converting analog money into neutral digital currency. On-ramps using Lightning complete this process in seconds at a lower cost, compared to the 10 minutes and higher fees on Bitcoin's Layer 1. The market will naturally, and quickly, gravitate toward this faster, cheaper, and more efficient solution,” said David Marcus, CEO and Co-Founder of Lightspark

“We view crypto as a technology and are pleased to expand our support to include Lightning, which is being quickly embedded by our partners, including Banxa who wish to continuously innovate with crypto and stablecoin technology,” said Edward Woodford, Founder and CEO of Zero Hash. “Customers of Banxa can now unlock access to a near-instant and cheaper transfer of value rail to bring even more users on-chain.”

For companies interested in effortlessly enabling Lightning transactions to unlock access to fast, low cost and secure payments, please contact our team. For more information on this product, please read Zero Hash’s Lightning product guide.

About Banxa

Banxa is an internationally compliant fiat-to-crypto gateway solution for exchanges, wallets and other cryptocurrency businesses.

Banxa offers global and local payment methods like credit cards and retail store networks. With zero chargebacks and an easy to integrate API, exchanges, wallet providers and other industry players can offer their customers an easy and secure way to buy cryptocurrency.

Banxa takes care of all regulations, payment network integrations, operational overheads and fraud management.

About Zero Hash

Zero Hash is a B2B2C crypto-as-a-service infrastructure platform that allows any platform to embed digital assets natively into their own customer experience quickly and easily through a matter of API endpoints. Zero Hash’s turnkey solution handles the entire backend complexity and regulatory licensing required to offer crypto products.

Zero Hash Holdings, through its subsidiaries, powers neo-banks, broker-dealers, payment groups as well as non-financial brands to offer crypto and stablecoin powered products.

Zero Hash Holdings is backed by investors, including Point72 Ventures, Bain Capital Ventures, and NYCA.

Zero Hash LLC is a FinCen-registered Money Service Business and a regulated Money Transmitter that can operate in 51 US jurisdictions. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed to engage in virtual currency business activity by the New York State Department of Financial Services. In Canada, Zero Hash LLC is registered as a Money Service Business with FINTRAC.

Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a Digital Currency Exchange Provider, with DCE registered provider number DCE100804170-001. This registration enables Zero Hash to offer its crypto services in Australia. Zero Hash Australia Pty Ltd. is registered on the New Zealand register of financial service providers, with Financial Service Provider (FSP) number FSP1004503. A FSP in New Zealand is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by a New Zealand regulator to provide crypto services. Zero Hash Australia Pty Ltd.’s registration on the New Zealand register of financial service providers does not mean that Zero Hash Australia is subject to active regulation or oversight by a New Zealand regulator. Zero Hash Europe B.V. is registered as a Virtual Asset Services Provider (VASP) registration by the Dutch Central Bank (Relation number: R193684). Zero Hash Europe Sp. Zoo is registered as a VASP by the Tax Administration Chamber of Poland in Katowice (Registration number RDWW – 1212).

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Zero Hash Contact
Shaun O’keeffe
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Zero Hash Disclosures

Zero Hash services and product offerings may not be available in all jurisdictions. Zero Hash accounts are not subject to FDIC or SIPC protections, or any such equivalent protections that may exist outside of the US. Zero Hash’s technical support and enablement of any asset is not an endorsement of such asset and is not a recommendation to buy, sell, or hold any crypto asset. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide any securities services and is not a custodian of securities, including security tokens, on behalf of customers.