A PayPal for Ethereum: Meet Loopring Pay

A PayPal for Ethereum: Meet Loopring Pay

After creating an Ethereum scaling solution and launching a decentralized exchange, Shanghai-based Loopring is now trying to create an easy payments system for crypto.

In Brief

  • Loopring uses zkRollup to handle Ethereum scaling problems

  • It launched a DEX in December Last week it launched

  • Loopring Pay so users can easily make payments

As the world of Ethereum Layer 2 comes into focus, one player that contributed to solving scaling problems on the eternally clogged network is a Chinese home-grown protocol called Loopring.

Loopring Pay

Loopring just released a new payment product called Loopring Pay, which aspires to be kind of a PayPal for crypto. Built on top of Loopring v3.0, an ETH Layer 2 scaling protocol using zkRollup, Loopring Pay allows users to send ETH and ERC20 tokens without worrying about Ethereum’s usual congestion and expensive gas fees. Read More...