BitPay adds Polygon network to expand crypto payment options

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ATLANTA–()–BitPay, the world’s largest provider of bitcoin and cryptocurrency payment services, announced support for Polygon and MATIC. Consumers can buy, store, trade and spend MATIC in the BitPay app later this week. For the first time, BitPay app holders will have access to other ERC-20 tokens including USDC, DAI, ETH, and WBTC on the Polygon array. BitPay merchants will be able to accept Polygon payments from the most popular Polygon wallets.

As the first merchant to accept MATIC via BitPay, Panini America supports its customers with a new digital payment option. Panini is the international brand leader in the world of stickers and trading cards with more than 1,000 collection launches every year and one of the main publishers of magazines and children’s books, comics, manga and graphic novels. Users have access to thousands of NBA, NHL, NFL and more NFTs through Panini’s NFT Marketplace.

“We are really excited to be able to support another coin in the Panini wallet, especially one so related to the NFT market. The opportunity to partner closely with BitPay, to continue to develop the Panini NFT platform and to continue to offer our collectors greater flexibility and payment options during this NFT market cycle is one key reasons why we chose to work closely with BitPay,” said Jason Howarth, Vice President of Marketing, Panini America.

The frictionless, carbon-neutral Polygon Layer-2 Ethereum scaling platform provides a fast, scalable, and ultra-low-cost environment for Web3 users and builders. Its native token, MATIC, is used for blockchain governance, payment of transaction fees, and participation in decentralized applications (dapps). The network is quickly becoming the de facto platform for Web3, working with major brands and companies such as DraftKings, Meta, Starbucks, Reddit, and Stripe, among others, and boasting over 37,000 dapps.

“When adding a new coin to be accepted by merchants, we look at many factors, but among the most important are its payment usefulness and community involvement. The Polygon Network encourages adoption massive scale by allowing 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 for 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. delighted that the utility of MATIC is growing and adding value to the Polygon ecosystem.”

BitPay merchants and BitPay app holders are automatically updated to add MATIC to the cryptocurrency mix. Merchants do not need to make any changes or adjustments to accept Polygon payments. Customers have the option to make payments from the BitPay wallet and other supported wallets. In addition to Polygon (MATIC), BitPay supports 15 other cryptocurrencies, including Ape Coin (APE), Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Dogecoin (DOGE), Shiba Inu (SHIB ), Litecoin, (LTC), XRP (XRP), Wrapped Bitcoin (WBTC), as well as six stablecoins Euro Coin (EUROC), Dai (DAI), Binance USD (BUSD), USD Coin (USDC), Pax Dollar ( USDP) and Gemini Dollar (GUSD).

About BitPay

Founded in 2011, BitPay is one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company’s mission is to transform the way businesses and individuals send, receive and store money. Its business solutions eliminate fraudulent chargebacks, reduce the cost of payment processing, and enable borderless cryptocurrency payments, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and the BitPay Card, enabling them to turn digital assets into dollars to spend at tens of thousands of businesses. The company has offices in North America, Europe and South America and has raised over $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group and Aquiline Technology Growth. For more information, visit bitpay.com.

About Polygon

Polygon Technology is the leading blockchain development platform, delivering scalable, affordable, secure, and durable blockchains for Web3. Its growing suite of products provides developers with easy access to leading scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, standalone and enterprise chains, and data availability . Polygon’s scaling solutions have been widely adopted with over 37,000 decentralized applications hosted, over 2.1 billion transactions processed, over 174.9 million unique user addresses, and over 5 billion dollars of secure assets. The network is home to some of the biggest Web3 projects like Aave, Uniswap, OpenSea, and well-known companies like Meta, Stripe, and Adobe. Polygon is carbon neutral with the goal of leading the Web3 ecosystem by going carbon negative.

If you are an Ethereum developer, you are already a Polygon developer! Take advantage of Polygon’s fast and secure txns for your dApp, get started here.

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