In an exciting development within the cryptocurrency landscape, Lyzi, a payment hub leveraging the Tezos blockchain, has successfully raised 1.3 million euros—or approximately 1.4 million dollars—in a seed funding round. This financial boost comes from notable angel investors, including Christopher Grilhault des Fontaines, the founder of Dfns, and Jean-Luc Bernard, the founder of Astek. This funding is set to accelerate the growth of Lyzi’s platform, which aims to simplify the use of cryptocurrencies for everyday transactions.
Lyzi is designed to empower both consumers and merchants by facilitating cryptocurrency payments in retail and e-commerce settings. Merchants can easily accept payments in digital currencies but receive the equivalent in fiat directly deposited into their bank accounts, creating a seamless experience in transactions. With this innovative approach, Lyzi’s CEO Damien Patureaux expressed a vision of making crypto payments so straightforward that merchants will naturally embrace this modern payment solution.
As part of its strategy for growth, Lyzi plans to launch on Tezos’ layer-2 solution, Etherlink, which is compatible with the Ethereum Virtual Machine (EVM). This move is expected to enhance its capabilities and broaden its market reach, aligning with the growing trend of integrating cryptocurrency into mainstream financial transactions. Patureaux highlighted that expanding into various markets worldwide is a significant milestone in Lyzi’s ambitious journey.
“Our goal is to make accepting payments in crypto so easy that merchants have to ask themselves, ‘Why wouldn’t I do that?'”
Lyzi Secures Funding to Expand Crypto Payments
Lyzi, a Tezos-based crypto payment hub, has made significant strides in the cryptocurrency landscape by raising funds to enhance its platform. Here are the key points related to this development:
- Funding Amount: Lyzi raised 1.3 million euros ($1.4 million) in a seed funding round.
- Investors: Participation included notable angel investors:
- Christopher Grilhault des Fontaines: Founder of Dfns
- Jean-Luc Bernard: Founder of Astek
- Platform Features: Lyzi allows consumers to utilize cryptocurrency for everyday payments in both retail and e-commerce settings.
- Merchants receive payments in cryptocurrency, which is converted to fiat currency and deposited directly into their bank accounts.
- Next Steps: Following the funding, Lyzi plans to launch on Tezos’ layer-2, Etherlink, which is compatible with the Ethereum Virtual Machine (EVM).
- This move is aimed at simplifying the acceptance of cryptocurrency for merchants.
- CEO’s Vision: CEO Damien Patureaux highlighted the goal to make crypto payments so straightforward that merchants will question why they aren’t using the platform already.
“Our goal is to make accepting payments in crypto so easy that merchants have to ask themselves, ‘Why wouldn’t I do that?’” – CEO Damien Patureaux
These developments indicate a significant shift towards the mainstream adoption of cryptocurrency in everyday transactions, which could impact consumers’ purchasing options and merchants’ payment flexibility.
Tezos Innovation Takes Center Stage: A Look at Lyzi’s Seed Funding Success
The recent announcement of Lyzi, a Tezos-based crypto payment hub that has successfully raised 1.3 million euros ($1.4 million) in seed funding, highlights a significant movement in the crypto payments landscape. With backing from notable angel investors such as Christopher Grilhault des Fontaines and Jean-Luc Bernard, Lyzi is well-positioned to leverage its unique approach to facilitating crypto payments in retail and e-commerce.
When compared to other players in the field, such as BitPay and Coinbase Commerce, Lyzi offers a distinctive competitive edge by integrating with Tezos’ layer-1 blockchain and planning to expand into layer-2 solutions like Etherlink. This could potentially enable faster transaction times and lower fees, which are significant pain points for merchants currently utilizing more established platforms. Furthermore, by allowing merchants to receive fiat currency directly in their bank accounts, Lyzi addresses a common concern about volatility and liquidity that many business owners face when accepting cryptocurrency.
However, while Lyzi enters a growing market, it still faces challenges. The nascent nature of the Tezos blockchain compared to the more widely adopted Ethereum ecosystem might make some merchants hesitant. Although the integration with Ethereum Virtual Machine (EVM) is a step toward bridging that gap, merchants accustomed to established solutions may require additional convincing. Additionally, Lyzi’s success hinges on widespread adoption within the crypto space, which is often unpredictable and can be influenced by regulatory changes and market fluctuations.
For retail businesses and e-commerce platforms looking to diversify payment methods, Lyzi’s model presents an exciting opportunity. Companies that are eager to embrace cryptocurrency may find that Lyzi provides a seamless solution that simplifies the transaction process. Conversely, businesses hesitant to adopt digital currencies might find themselves at a competitive disadvantage as consumer preferences continue to shift towards crypto adoption.
Ultimately, as Lyzi embarks on this ambitious journey to broaden its reach and simplify crypto payments, its success could spark a new wave of innovation in the payment processing sector, pushing competitors to evolve or risk obsolescence.
