According to an official announcement, BitPay, one of the world’s largest cryptocurrency payment providers, will now accept MATIC, Polygon’s native coin. Users will be able to use the BitPay app to buy, store, trade, and use MATIC and several other ERC-20 tokens, such as USDC, DAI, BUSD, and WBTC, on Polygon.
According to Polygon Co-Founder Sandeep Nailwal, “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.”
Polygon plays host to mega projects such as Aave, Uniswap, and OpenSea. Companies such as Starbucks, Robinhood, and Stripe have chosen the network as the Web3 gateway due to factors such as low costs, fast transaction speeds, and carbon neutrality, to name a few.
The massive user base of BitPay would make it easier for MATIC to be used more widely around the world.
Stephen Pair, CEO of BitPay, said: “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.”
$MATIC Approaches $1
The general crypto market experienced some much-needed reprieve today. With Bitcoin (BTC) passing the $20k mark, major cryptocurrencies have started to rise. Ethereum (ETH) has been on a double-digit uptrend, increasing by 13.4% in the last 24 hours.
The price of $MATIC has increased by 6.7% in the last 24 hours and by 19.7% over the past two weeks. The project finally entered the green after a two-month slump. MATIC is still down 67.5% from its all-time high of $2.92, reached in December 2021.
In addition to the pricing factor, Polygon also obtained a new record-high number of active addresses. The network had 449,670 active addresses as of October 12. At the time of publication, Polygon (MATIC) was trading at $0.946710.
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