Polygon (MATIC) on board the first US-compatible crypto payment platform

Another Web3 financial application with an unusual use case is going live on Smart Contracts with Polygon (MATIC).

Franklin’s Crypto and Fiat Salary Service Launches on Polygon (MATIC)

Franklin, a service that empowers businesses and organizations with blockchain-based payment instruments, launches its open beta version for testing on the Polygon network (MATIC).

We implemented the first US compatible hybrid cash and crypto payment platform on @0xPolygon due to its speed, cost and robust developer community. Excited to see this network continue to crush it 🚀🪁

— Franklin 🪁 (@franklinpayroll) 4 November 2022

According to a statement shared by the team yesterday, November 4, 2022, this platform was chosen as a technical basis for new development due to its speed, cost-effectiveness and robust design.

Right now, the platform is waiting for Web3 developers and businesses to join the beta test campaign. In addition to cryptocurrencies, the platform also supports fiat payments.

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Franklin markets itself as the only US-regulated automated payroll service that works with digital assets. It streamlines payments to employees and contractors in the B2B segment, creates and completes tax reports, and so on.

Polygon (MATIC) founder reveals his sensational end goal

Recently, Polygon (MATIC) partnered with Meta’s Instagram and JP Morgan. As covered by U.Today earlier, JP Morgan confirmed its first transaction on Polygon (MATIC) between the tokenized versions of SGD and JPY.

The experiment was led by Project Guardian, an initiative supported by the Monetary Authority of Singapore (MAS). Polygon (MATIC) co-founder Sandeep Nailwal emphasized that the interest in his platform should be attributed to the possibilities opened up by its second-tier scale zkEVM:

This is all as the world’s first “FULLY BUILT zkEVM” network is almost here. It’s not a promise of a future zkEVM, it’s not fake zkEVM networks to lure in new investors, but actually FULLY BUILT, source code available, verifiable proofs, fully functional and decently efficient mainnet in production quality. See you soon at #zkEVM

Polygon (MATIC) zkEVM is a new generation scalability protocol based on zk cryptography. It rethinks the interaction between L1 and L2 and makes it faster and cheaper.

Ultimately, Nailwal adds, he is focused on making Polygon (MATIC) a top-three blockchain along with Bitcoin (BTC) and Ethereum (ETH).