Banxa, the leading on-and-off ramp solution for web3, has integrated with The Graph, the leading decentralized infrastructure protocol, to allow users to pay with fiat currency to access blockchain data organized by The Graph. This integration, now available directly in The Graph’s user interface, decreases barriers to decentralized protocols and provides a way to access blockchain data as easily as with methods common in traditional SaaS products. The integration also marks the first use of Banxa’s new OpenRamp product, which enables fiat payments to directly interact with smart contracts, opening up a broad array of use cases and more fluid crypto experiences.
By leveraging Banxa’s new OpenRamp, The Graph offers direct access to blockchain data without the need for users to engage with centralized exchanges or platforms. Banxa’s integration fulfills all fiat transactions directly to The Graph’s billing contracts, so dapp developers and data consumers alike can start using The Graph’s decentralized network for any indexing needs without having to complete multiple transactions between fiat and crypto. As the internet continues to move towards an increasingly decentralized, multi-chain future with web3, it will be more essential than ever for users to be able to transact seamlessly across protocols and networks using their preferred currencies and methods of payment.
Edge & Node Chief Business Officer and Co-Founder, Tegan Kline, commented on today’s news: “Creating a seamless experience on The Graph’s decentralized network means making it as streamlined as possible for users and developers to pay for queries. Integrating Banxa as a fiat on-ramp opens The Graph to an even broader audience, making the decentralized network as easy to use as a traditional SaaS.”
The Graph’s integration with Banxa has created an entirely new way to empower B2B2C projects in both Web2 and Web3 by providing the ability to pay in a way familiar to common software-as-a-service (SaaS) platforms using Banxa’s vast array of payment methods. This capability paves the way for a user experience on par with traditional enterprise SaaS models while maintaining all the benefits of decentralized technology, unlocking an ecosystem in which all fiat-to-crypto and crypto-to-crypto interactions can occur.
“Banxa’s integration with The Graph represents a major first step toward opening up the decentralized landscape to more users, and we can’t wait to see how developers and companies harness the access to this data through the embedded platform capability,” said Holger Arians, CEO of Banxa. “We believe the future of crypto lies in interoperability – a prime example of which lies in enabling seamless value movement in fiat and crypto across The Graph Network.”
This integration is one of many steps on The Graph ecosystem’s roadmap to enhance the billing process for developers and data consumers, and represents Banxa’s efforts to accelerate blockchain adoption by serving as the premier entry point for the decentralized space.
About BANXA Holdings Inc.
Banxa’s mission is to accelerate the world to Web3 with its leading global on-and-off ramp solution. Through its extensive network of local payment solutions paired with the required crypto licences, Banxa gives its partners and projects access to global audiences with less friction and higher conversions. Banxa has a global team of Web3 natives – with operating headquarters in the USA, Europe and APAC regions.
For further information go to www.banxa.com.
About The Graph
The Graph is the indexing and query layer of web3. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL. The Graph currently supports indexing data from over 39 different networks including Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche, Celo, Fantom, Moonbeam, IPFS, Cosmos Hub and PoA with more networks coming soon. To date, 74,000+ subgraphs have been deployed on the hosted service. Tens of thousands of developers use The Graph for applications such as Uniswap, Synthetix, KnownOrigin, Art Blocks, Gnosis, Balancer, Livepeer, DAOstack, Audius, Decentraland, and many others.
Source : The Graph Integrates Banxa to Increase Access to Blockchain Data