Payments

BitPay adds Polygon to network

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November 3, 2022

BitPay, a bitcoin and cryptocurrency payment services company, has integrated support for the Polygon blockchain development platform and its native token MATIC. With this integration, customers can buy, sell, spend or swap MATIC along with other ERC-20 tokens, according to a press release.

Merchants can also receive Polygon payments through Polygon wallets with this partnership. Polygon provides a carbon-neutral layer two Ethereum scaling platform, and customers can use the MATIC token for blockchain governance, paying transaction fees or decentralized apps.

"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," Stephen Pair, CEO of BitPay, said in the release. "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."