LogX Network, a Sequoia-backed trading platform across multiple blockchains, has allied with Transak. Their integration of Transak One, a fiat-to-smart contract solution, aims to simplify user onboarding. It lets users directly buy and deposit funds into LogX smart contracts, cutting out intermediate crypto transactions and easing entry into decentralized derivatives.
LogX is a comprehensive DeFi platform, touting scalability, gas-free trades, and multi-asset support. It offers advanced trading like perpetual futures, memecoin trading, leveraged prediction markets, and tokenized real-world asset trading.
Traditionally, using smart contracts needed crypto. Users had to convert fiat to crypto first. But Transak One changes this. LogX users can now skip the steps of buying ETH, swapping for USDC, and depositing. They can directly deposit USDC into their trading accounts via fiat.
LogX, a “DeFi superapp,” uses technologies like Arbitrum Orbit Stack, Avail Network, and Hyperlane Network. Backed by big investors, it targets retail and professional traders with speed, security, and efficiency.
Akshit Bordia of LogX said, “With Transak One, we’re making DeFi more accessible. Users can buy crypto with local currencies and trade on LogX easily.” Sami Start of Transak added, “Our partnership simplifies DeFi onboarding. Users can directly deposit into smart contracts.”
Combined with LogX’s gas-free and real-time pricing and Transak’s payment, users can smoothly convert fiat to crypto and engage in DeFi. New users can buy crypto with local currencies and start trading on LogX right away, enjoying a centralized-like experience in a decentralized world.
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