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HomeNewsBusinessPolygon Network Expansion by BitPay Increases Crypto Payment Options

Polygon Network Expansion by BitPay Increases Crypto Payment Options

The leading Bitcoin and cryptocurrency payment service provider in the world, BitPay, has announced support for MATIC and Polygon. Later this week, customers will be able to purchase, store, swap, and use MATIC via the BitPay app. For the first time, users of the BitPay app will be able to use other ERC-20 tokens, including as USDC, DAI, ETH, and WBTC, to make purchases on the Polygon Network. The most well-known Polygon wallets will be able to send payments to BitPay merchants.

“We’re very happy to be able to support another coin in the Panini Wallet, especially one that is so closely related to the NFT market. A significant factor in our decision to collaborate closely with BitPay is the chance to further enhance the Panini NFT platform and provide our collectors with more flexible payment alternatives throughout this NFT market cycle, according to Jason Howarth, vice president of marketing for Panini America.

Panini America is offering its consumers a new digital payment choice as the first retailer to accept MATIC through BitPay. With more than 1,000 new collection launches annually, Panini is the global market leader in the world of sticker and trading card collections. It is also one of the top publishers of children’s magazines, books, comics, and graphic novels. Through Panini’s NFT marketplace, users have access to thousands of NBA, NHL, NFL, and other NFTs.

For both web3 consumers and creators, the Polygon frictionless and carbon-neutral Layer-2 Ethereum scaling platform provides a quick, scalable, and ultra-low fee environment. Its native coin, MATIC, is utilised for decentralised app participation, transaction fees, and blockchain governance (dapps). With over 37,000 dapps and partnerships with major brands and companies including DraftKings, Meta, Starbucks, Reddit, and Stripe, the network is quickly emerging as the de facto Web3 platform.

“Working with BitPay allows MATIC holders to transact with a variety of international merchants, including Airbnb and Shopify, for the first time, opening up a new realm of commerce, according to Sandeep Nailwal, Co-Founder of Polygon. “We are delighted that MATIC’s capabilities are growing and the Polygon ecosystem is becoming even more valuable.

“We consider several variables before introducing a new coin for retailers to accept, but its payment usability and community involvement are among the most crucial. By letting blockchain networks to connect and scale to support both new and existing users, the Polygon network promotes widespread adoption, according to Stephen Pair, CEO of BitPay. “Including MATIC in the range of cryptocurrencies that BitPay supports offers businesses a quick, secure, and safe alternative to conventional payment methods and opens the door for blockchain payments to upend how customers and businesses receive and spend money.”

The automatic update to add MATIC to the mix of cryptocurrencies is sent to BitPay merchants and BitPay app users. Merchants can accept Polygon payments without making any modifications or changes. Customers can choose to pay using their supported wallets, including the BitPay Wallet. BitPay supports 15 cryptocurrencies in addition to Polygon (MATIC), including Ape Coin (APE), Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC), XRP (XRP), Wrapped Bitcoin (WBTC), as well as six stable coins: Euro Coin (EUROC), Dai (DAI), Binance USD (BUSD), USD Coin (USDC), Pax (GUSD).

News Summary:

  • Polygon Network Expansion by BitPay Increases Crypto Payment Options
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