Banxa, the on-and-off ramp solution for web3, has integrated with The Graph, the 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:
“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.”
Holger Arians, CEO of Banxa, said:
“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. 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.”