The non-custodial crypto to fiat payment gateway, Cross Finance (CrossFi) has launched its own Mainnet, taking a step forward in web3 payments. With this feature, CrossFi will be able to scale up decentralized crypto payments.
Built by using Cosmos SDK, this platform has Ethereum Virtual Machine (EVM) compatibility which is necessary for more secure and faster crypto transactions. CrossFi seeks to lessen the gap between web3 technology and traditional finance through this feature.
The platform has the potential to process up to 10,000 transactions per second (TPS). CrossFi has built partnerships with companies like Alchemy and CoinList with the aim of redefining global payment systems. Having its own Mainnet will take it a step further.
CrossFi’s Mainnet has integrated web3 payments with everyday transactions which solidifies the company's position as a blockchain-based payment platform.
Its blockchain network is certified by PCI DSS, a standard that major payment processors use to safeguard data. Additionally, CrossFi's blockchain model has Mint Power (MPX) token which is a decentralized framework for managing the platform. The transaction fees of this platform is as low as $0.02 which supports high-volume transactions favored by most e-commerce websites.
With this launch, many CrossFi features like the CrossFi Chain and CrossFi App will be introduced into the crypto ecosystem. Services like P2P payments, staking, lending, virtual debit cards and crypto-fiat exchanges will simplify the management of both crypto and fiat assets for users, further expanding the accessibility of Web 3 payments.
The company tested 1 million wallets which showed an increasing interest in DeFi solutions.
In recent times major web3 payments service providers Celo and Flexa have also introduced blockchain payment technology with the same emphasis on speed and scalability as CrossFi. However, CrossFi’s claim of 10,000 TPS positions it as a high-performance solution, especially for merchants and e-commerce platforms aiming for low-cost, high-speed transactions.
CrossFi’s modular infrastructure, backed by the Cosmos SDK, enables seamless integration of Ethereum-native assets. This flexibility allows enterprises and developers to create decentralized payment applications (DApps) that leverage CrossFi’s high throughput, making the platform a serious competitor in the global payments landscape.