App note from Nexperia that presents their LSF010x voltage level translator which uses parallel channels of pass transistors. Link here (PDF)
System level designers are confronted with increasing complexity of modern electronic systems in which lower power and logic voltage levels are used. This may lead to incompatibility between input and output levels if different interface voltage are required within a system. The level shifters can have different input/output (I/O) voltage levels on A and B port side which allows safe communication between various devices without damage from overvoltage or malfunction due to improper high-state levels at the higher voltage side.