Layer N, a rollable network designed to scale financial applications on Ethereum, today announced the appointment of Hong Kong-based former Fidelity International executive Luc Froehlich to its advisory board.
Layer N is an Ethereum StateNet, a network of specialized rollups optimized for the financial ecosystem and aimed at onboarding institutional liquidity.
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Before joining Layer N, Froehlich led Fidelity International’s foray into cryptocurrencies and tokenized assets for seven years as global head of digital asset solutions.
In an email interview with CoinDesk, Froehlich said he is joining the protocol’s advisory board because Layer N’s architecture addresses the core challenge of fragmentation in financial technologies.
“By introducing a network of customizable virtual machines that can seamlessly communicate and share liquidity, Layer N overcomes the often siled operation of traditional systems,” he says.
Layer N’s use of zero-knowledge proofs (zk) addresses traditional financial institutions’ need for transaction confidentiality by enabling verification without disclosing the contents of the transaction, thereby meeting regulatory and competitive requirements. he explained in the interview.
“Blockchain technology is now ripe to seriously challenge the aging infrastructure that underpins TradFi,” he said.
Recently, Layer N announced its entry into the Asian market through a strategic investment from BlackPine and a partnership with VSFG, with the aim of expanding its Web3 offering in the region.
Read more: What are zero knowledge proofs?
