Former Fidelity Executive Luc Froehlich Joins Layer N Advisory Board

LAYER N 2024-02-22 42

According to CoinDesk, Layer N, an Ethereum StateNet designed to scale financial applications on Ethereum, has appointed former Fidelity International executive Luc Froehlich to its advisory board. Layer N is a network of specialized rollups optimized for the financial ecosystem, aiming to onboard institutional liquidity. Froehlich previously led Fidelity International's foray into cryptocurrencies and tokenized assets as global head of digital asset solutions for seven years.

Froehlich stated in an email interview that he joined Layer N's advisory board because its architecture addresses the core challenge of fragmentation in financial technologies. Layer N introduces a network of customizable virtual machines that can communicate and share liquidity seamlessly, overcoming the often siloed operation of traditional systems. Additionally, Layer N's use of zero-knowledge proofs (zk) addresses the need for confidentiality in transactions by enabling verification without revealing the transaction's content, meeting regulatory and competitive requirements.

Layer N recently announced its entry into the Asian market through a strategic investment from BlackPine and a partnership with VSFG, aiming to expand its Web3 offerings in the region.