Layer N Welcomes Former Fidelity Executive as Advisor

Layer N, a network of specialized rollups that aims to scale financial applications on Ethereum, has announced the addition of Luc Froehlich to its advisory board. Froehlich is a former global head of digital asset solutions at Fidelity International, where he led the exploration of cryptocurrencies and tokenized assets for seven years.

Layer N: A Solution for Scalability and Confidentiality

Layer N is an Ethereum StateNet, a network of rollups that are optimized for the financial ecosystem. Rollups are a layer 2 solution that bundle transactions off-chain and periodically submit them to the main chain, reducing congestion and fees. Layer N uses zero-knowledge proofs (zk), a cryptographic technique that allows verification without revealing the transaction’s content, to ensure confidentiality and privacy for its users.

Layer N claims to offer several advantages over other layer 2 solutions, such as:

• Customizable virtual machines that can communicate and share liquidity seamlessly, overcoming the fragmentation of traditional systems
• Support for real-world assets (RWA), traditional finance (TradFi), and tokenization strategies, enabling the integration of various asset classes and markets
• Compatibility with Ethereum and Web3 standards, allowing easy access and interoperability for developers and users

Luc Froehlich: A Veteran in Digital Asset Solutions

Luc Froehlich is a Hong Kong-based former executive at Fidelity International, one of the world’s largest asset managers. He joined Fidelity in 2016 as the head of investment directing for Asia Pacific fixed income, and later became the global head of digital asset solutions in 2019. In this role, he was responsible for exploring the potential of cryptocurrencies and tokenized assets for Fidelity’s clients and partners.

Froehlich has over 20 years of experience in the financial industry, working in various roles and regions for leading institutions such as J.P. Morgan, Deutsche Bank, and UBS. He holds a master’s degree in economics from the University of Zurich and is a CFA charterholder.

Froehlich said that he decided to join Layer N’s advisory board because he believes that Layer N’s architecture addresses the core challenge of fragmentation in financial technologies. He also said that Layer N’s use of zk proofs meets the regulatory and competitive requirements of traditional finance, which is often concerned about confidentiality and compliance.

Layer N’s Expansion Plans

Layer N is a project of Matter Labs, a Berlin-based company that develops zk-based solutions for Ethereum. Layer N was launched in December 2023, with the support of several investors and partners, including Alameda Research, Dragonfly Capital, ParaFi Capital, and Polygon.

Layer N recently announced its entry into the Asian market, through a strategic investment from BlackPine, a Singapore-based crypto fund, and a partnership with VSFG, a Hong Kong-based digital asset platform. Layer N said that it aims to expand its Web3 offerings in the region, where there is a high demand for scalable and confidential financial applications.

Layer N’s advisory board also includes other prominent figures in the crypto and finance space, such as:

• Robert Leshner, founder and CEO of Compound, a leading decentralized lending protocol
• Santiago Roel Santos, partner at ParaFi Capital, a crypto-focused investment firm
• Arthur Breitman, co-founder of Tezos, a blockchain platform for smart contracts and decentralized applications
• Alex Gluchowski, co-founder and CEO of Matter Labs, the company behind Layer N

Layer N said that it is looking forward to working with Froehlich and leveraging his expertise and network to advance its vision of bringing institutional liquidity and innovation to Ethereum.