Aleph Zero, a Proof-of-Stake (PoS) layer 1 blockchain that aims to improve anonimity, has just partnered with C14, a fiat on-ramp provider, to launch its first fiat on-ramp compliance platform enabling users to interact with AZERO, the native coin of the Aleph Zero blockchain, and to buy the digital token directly to the user’s wallet.
This comes hot on the heels after Aleph Zero concluded a new testnet update with the release of the “Aleph Node 9.0” along with a host of other features, in January. This privacy enhancing blockchain has been making tremendous leaps over the past few months with the platform opening its Mainnet to community validators as well as any individuals who fulfill the hardware requirements and possess the required number of AZERO coins to begin validating and securing the network.
Developers at Aleph Zero are also developing a global decentralized exchange (DEX), “Common”, which will be a privacy-enhancing, multichain, and low-cost exchange for digital assets. It will allow users to transfer cryptocurrencies through the Aleph Zero network.
Fiat On-ramp Service
In the latest development, Aleph Zero has collaborated with C14 to let users interact with AZERO via C14 website and enable decentralized apps (dApps) developers to integrate the widget into their websites and apps. For the uninitiated, a fiat on-ramp is a service that exchanges fiat currencies such as USD, GBP, and EUR among others to cryptocurrency tokens and deposits them directly into an individual’s wallet.
Say hello to AZERO's first fiat on-ramp: @c14_team! 🎆
C14 enables Aleph Zero users to interact with AZERO via https://t.co/Jc37rMUqD3, and empowers builders to integrate the widget into their websites and apps.
Here are the details. 👇 pic.twitter.com/BEMuockxdZ
— Aleph Zero (@Aleph__Zero) March 15, 2023
The move aims to boost Aleph Zero (AZERO) adoption and increase the blockchain’s use cases. It will further make it easier for dApps on Aleph Zero to onboard their users. Many Web3 businesses have found it beneficial to incorporate on-ramp features into their app that helps seamless fiat-to-crypto conversion experience and strengthens their relationship with users. Web3 companies are sustaining customer engagement by offering these services. Antoni Zolciak, co-founder of Aleph Zero noted,
“With C14’s attention to regulatory compliance and proper licensing, we’re certain that users and builders within the Aleph Zero ecosystem will benefit from this collaboration.”
What is C14?
The recent partnership has broadened C14’s offerings in the burgeoning Web3 ecosystem. The platform is a fiat on-ramp provider that allows user to buy cryptocurrencies in the European Union, Canada, and Brazil using their respective fiat currency.
C14 has been accredited with several licenses including a registered Money Service Business (MSB), with FinCEN as well as a Foreign Money Service Business (FMSB), with FINTRAC in Canada. Moreover, C14 has acquired a Virtual-Asset-Service-Provider registration in the European Union. Erich Grant, CEO at C14 said,
“We’ve been following the amazing progress the Aleph Zero team has made over the past twelve months. We’re thrilled to be playing our part in their fantastic growth story. We look forward to make it easier and easier for dapps on Aleph Zero to onboard their users.”