Key Highlights:

• Lyzi has successfully raised $1.42 million in seed funding to advance its payment platform.
• This service, which operates on the Tezos layer-1 blockchain, facilitates the use of cryptocurrencies for everyday retail and e-commerce payments.
• The next phase involves launching on Tezos’ layer-2 Etherlink, allowing compatibility with the Ethereum Virtual Machine.

Tezos-based crypto payment provider Lyzi announced it has secured 1.3 million euros ($1.4 million) in a seed funding round to enhance its platform’s development.

This funding includes contributions from angel investors Christopher Grilhault des Fontaines, the founder of Dfns, and Jean-Luc Bernard, the founder of Astek, as detailed in an announcement made to CoinDesk on Tuesday.

Lyzi aims to simplify cryptocurrency payment acceptance for merchants, enabling seamless transactions where sellers receive payments in crypto and convert these to fiat currency directly in their bank accounts.

Damien Patureaux, the CEO of Lyzi, stated, “Our goal is to make accepting payments in crypto so easy that merchants have to ask themselves, ‘Why wouldn’t I do that?’” This development represents an important step in their goal to expand their services into global markets.