ATLANTA–(BUSINESS WIRE)–BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, has announced support for Polygon and MATIC. Consumers can buy, store, exchange and use MATIC in the BitPay app later this week. For the first time, BitPay app holders will have access to use other ERC-20 tokens including USDC, DAI, ETH and WBTC on the Polygon Network. BitPay merchants will be able to accept Polygon payments from the most popular Polygon wallets.
As the first merchant to accept MATIC through BitPay, Panini America supports its customers with a new digital payment option. Panini is the international brand leader in the world of sticker and trading card collectibles with over 1,000 collection launches each year and one of the leading publishers of children’s magazines and books, comics, manga and graphic novels. Users have access to thousands of NBA, NHL, NFL and more NFTs through Panini’s NFT Marketplace.
“We are very excited to be able to support another coin in the Panini wallet, especially one that is so connected to the NFT market. The opportunity to work closely with BitPay, continue to develop the Panini NFT platform and continue to give our collectors greater payment flexibility and opportunity during this NFT market cycle is a key reason we have chosen to work so closely with BitPay,” said Jason Howarth, VP Marketing, Panini America.
Polygon’s frictionless and carbon-neutral Layer-2 Ethereum scaling platform offers a fast, scalable and ultra-low-fee environment for web3 users and builders alike. Its native token, MATIC, is used for blockchain management, payment of transaction fees and participation in decentralized apps (dapps). The network is quickly becoming the de facto platform for Web3, working with major brands and companies such as DraftKings, Meta, Starbucks, Reddit and Stripe, among others, and boasting over 37,000 dapps.
“When we add a new coin for merchants to accept, we look at many factors, but among the most important are the payment tool and community engagement. The Polygon network encourages mass adoption by enabling blockchain networks to connect and scale to support new and existing users,” said Stephen Pair, CEO of BitPay. “Adding MATIC to the mix of cryptos that BitPay supports provides businesses with a fast, safe and secure alternative to traditional payment methods and paves the way for blockchain payments to disrupt the way consumers and businesses receive and spend money on.”
“Working with BitPay opens up a new world of commerce for MATIC holders, allowing them to use with a number of global merchants, including Airbnb and Shopify for the first time,” said Sandeep Nailwal, co-founder of Polygon “We are excited about the utility of MATIC expands and adds further value to the Polygon ecosystem.”
The update to BitPay merchants and BitPay app holders is automatic to add MATIC to the cryptocurrency mix. Merchants do not need to make any changes or adjustments to accept Polygon payments. Customers have the option to make payments from the BitPay wallet and other supported wallets. In addition to Polygon (MATIC), BitPay supports 15 other cryptocurrencies, 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 stablecoins Euro Coin (EUROC), Dai (DAI), Binance USD (BUSD), USD Coin (USDC), Pax Dollar (USDP) and Gemini Dollar (GUSD).
About BitPay
Founded in 2011, BitPay is one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform how businesses and people send, receive and store money. The business solutions eliminate fraudulent chargebacks, reduce the costs of payment processing and enable limitless payments in, among other things, cryptocurrency. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Card, enabling them to turn digital assets into dollars for spending by tens of thousands of businesses. The company has offices in North America, Europe and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group and Aquiline Technology Growth. For more information visit bitpay.com.
About polygon
Polygon Technology is the leading blockchain development platform, providing scalable, affordable, secure and sustainable blockchains for Web3. The growing suite of products gives developers easy access to large scale solutions, including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, standalone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 37,000+ decentralized applications hosted, 2.1B+ total transactions processed, 174.9M+ unique user addresses, and $5B+ in assets secured. The network is home to some of the biggest Web3 projects such as Aave, Uniswap, OpenSea and well-known companies including Meta, Stripe and Adobe. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.
If you’re an Ethereum developer, you’re already a Polygon developer! Take advantage of Polygon’s fast and secure txns for your dApp, get started here.
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