Immutable X has just announced its partnership with MoonPay. This partnership will enable instant credit card purchases on the Ethereum Layer 2 (L2) platform with zero gas fees.
This partnership means that the exchange process allows users to buy crypto from the Immutable X platform using a credit card. There are no fees; however, there still is a MoonPay transaction fee.
The user can control the amount, fee, and currency using the MoonPay widget. Sure – there is the limitation of a minimum deposit amount of $20; however, this is undoubtedly an important partnership since it allows users to seamlessly trade on L2.
What’s Immutable X?
Immutable X is the first layer 2 protocol in Ethereum. It’s a secure platform that focuses on NFTs and prides itself in offering instant trading with zero fees. What’s more – it’s an open-source protocol that empowers users to develop their own decentralised platforms.
It also has its own marketplace: Immutable X Exchange. This is a peer-to-peer platform with 9,000 TPS speed and no gas fees. Additionally, the Exchange supports both ERC-721 and ERC-1155, giving its users more options when compared to other marketplaces.
What is MoonPay?
MoonPay is a fintech company that builds payments infrastructure for crypto. The company is known for offering products that convert fiat currencies to cryptocurrencies using all the main payment methods.
Immutable X is following in the footsteps of NFT giants like OpenSea in facilitating payments. Last week, OpenSea acquired crypto wallet startup Dharma and announced that it will onboard and activate fiat payments.