Mobilum Technologies Inc., a technology driven company making traditional finance accessible through compliant digital payment infrastructure and digital asset management technologies, is pleased to announce that it has signed a Memorandum of Understanding to partner with Matic Network BVI Limited (“Matic”) to develop an on-ramp and off-ramp solution for Matic users and developers.
Matic is the creator of Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Polygon provides the core components and tools to join the new, borderless economy and society. With polygon, any project can easily spin-up a dedicated blockchain network which combines the best features of stand-alone blockchains (sovereignty, scalability and flexibility) and Ethereum (security, interoperability and developer experience). Additionally, these blockchains are compatible with all the existing Ethereum tools and can exchange messages among themselves and with Ethereum.
Mobilum’s hosted fiat-to-crypto on-ramp solution will be utilized to create a fiat-to-crypto bridge for Matic. Users will be able to purchase MATIC (Polygon), MATIC (ERC-20) tokens, and USDC stablecoins using their credit card without having to set up an account on a cryptocurrency exchange. Matic developers will also be able to integrate their DApp with Mobilum’s fiat-to-crypto on-ramp solution to allow their users to buy Polygon tokens and other cryptocurrencies from inside their DApp. This seamless integration will keep the user inside the DApp since the user will no longer have to purchase and send cryptocurrency from an exchange.
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In addition to the on-ramp solution, Mobilum has developed an off-ramp platform that will be available to the Polygon community to provide a global corridor for crypto-to-fiat microtransactions. The Mobilum off-ramp will enable Matic users to redeem Polygon tokens and other cryptocurrencies for gift cards across 80 different countries with over 2,000 retail brands without any fees. Matic developers will also be able integrate the Mobilum off-ramp widget inside their DApp. The solution aims to make cryptocurrencies spendable in regions with large unbanked and underbanked populations that have limited access to crypto-to-fiat off-ramps. Matic will provide technology support, guidance and possibly development grants to Mobilum to enable further development on the Polygon ecosystem.
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Mobilum estimates to launch it’s hosted on-ramp and off-ramp solution for Matic by the end of Q3 of 2021.
“Our mission is to fill a gap and become a real bridge between traditional finance and the new digital economy. We are very excited to announce this strategic ecosystem partnership with Matic and its Polygon protocol. Matic has a world-class team and is one of the fastest and is one of the most promising protocols in the blockchain space. With the upcoming launch of the beta version of our off-ramp solution, Mobilum is providing a much-needed service that is not yet readily available to the market,” said Mobilum OÜ CEO Wojciech Kaszycki. “Not only will users and developers be able to purchase MATIC tokens with a credit card, soon they will also be able to use their cryptocurrency in the real-world by redeeming them for gift cards.”
