Cryptocurrency Digital Payments News

BitPay Adds Polygon Network Expanding Crypto Payment Options

BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, has announced support for Polygon and MATIC. Consumers can buy, store, swap and spend MATIC within the BitPay app later this week. For the first time, BitPay app holders will have access to spend 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.

“We’re thrilled the utility of MATIC is expanding and adding further value to the Polygon ecosystem.”

As the first merchant to accept MATIC through BitPay, Panini America is supporting its customers with a new digital payment option. Panini is the International brand leader within the world of sticker and trading card collectibles with over 1,000 collection launches each year and one of the leading publishers of children 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.

The Polygon 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 governance, paying transaction fees, and participating in decentralized apps (dapps). The network is fast becoming the de facto platform for Web3, working with major brands and corporations such as DraftKings, Meta, Starbucks, Reddit, and Stripe, among others, and boasting over 37,000 dapps.

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”When adding a new coin for merchants to accept, we look at many factors, but among the most important is its payment utility and community involvement. 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 offers businesses 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 funds.”

“Working with BitPay opens up a new world of commerce to MATIC holders, allowing them to spend with a host of global merchants including Airbnb and Shopify for the first time,” said Sandeep Nailwal, Co-Founder of Polygon “We’re thrilled the utility of MATIC is expanding and adding further value to the Polygon ecosystem.”

The update to BitPay merchants and BitPay app holders is automatic to add MATIC to the mix of cryptocurrencies. Merchants do not need to make any changes or adjustments in order to accept Polygon payments.

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