Lyzi Secures $1.4M to Enhance Tezos-Backed Retail and E-Commerce Cryptocurrency Payment Solutions

Tezos-based crypto payment hub Lyzi announced that it has raised 1.3 million euros ($1.4 million) in a seed funding round aimed at further developing its platform. The funding round saw participation from angel investors Christopher Grilhault des Fontaines, founder of Dfns, and Jean-Luc Bernard, founder of Astek, as detailed in a Tuesday announcement shared with CoinDesk.

Lyzi, which operates on the Tezos layer-1 blockchain, enables consumers to make everyday payments with cryptocurrency in both retail and e-commerce environments. Merchants can accept payments in cryptocurrency and receive fiat directly in their bank accounts.

With the recent funding, Lyzi plans to launch on Tezos’ layer-2, Etherlink, which is compatible with the Ethereum Virtual Machine (EVM), the operating system of the world’s second-largest blockchain. “Our goal is to make accepting payments in crypto so easy that merchants have to ask themselves, ‘Why wouldn’t I do that?'” remarked CEO Damien Patureaux in Tuesday’s announcement. Building on Etherlink represents the next phase of Lyzi’s journey to expand into more markets around the globe, he added.