Crypto Payments Firm Bitpay Adds MATIC Support, Panini America to Accept Polygon Payments

Crypto Payments Firm Bitpay Adds MATIC Support, Panini America to Accept Polygon Payments

Bitcoin and crypto payment services provider Bitpay has announced that the company now supports the Polygon (MATIC) network. According to the firm, Bitpay app users will be able to store, trade, and spend MATIC later this week, and the collectibles company Panini America will be Bitpay’s first merchant to accept MATIC payments. Bitpay Reveals Polygon MATIC Support

Bitpay announced on Wednesday that the crypto payments processing company now supports the Polygon (MATIC) protocol. Polygon is a proof-of-stake (PoS) layer two (L2) Ethereum scaling network that launched in October 2017. In addition to supporting Polygon’s native crypto asset MATIC, Bitpay app users will be able to store, swap, and spend ERC20 tokens associated with the Polygon protocol.

Bitpay’s decision to add polygon (MATIC) follows the company adding apecoin (APE) and euro coin (EUROC) support in August, as well as adding Lightning Network support in April. During the announcement on Wednesday, Bitpay said that the first merchant to accept MATIC Payments will be the collectibles company Panini America in order to support the “new digital payment option.” Polygon users can pay with MATIC for the company’s sticker and trading card collectibles alongside Panini’s NFT marketplace.

”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,” Bitpay’s CEO Stephen Pair said in a statement on Wednesday.

“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,” Pair added. Bitpay further noted on Wednesday that in addition to MATIC, the crypto payments processor also supports 15 other crypto assets and stablecoins. Tags in this story 15 crypto assets, Apecoin (APE), BitPay, Bitpay App, Bitpay CEO, Bitpay merchant, Bitpay merchant directory, Bitpay Merchants, Bitpay Polygon, crypto payments, euro coin (EUROC), lightning network, matic, Panini America, Payment Provider, Polygon, Polygon (MATIC), spend, Stephen Pair, store, swap

What do you think about Bitpay adding Polygon (MATIC) network support? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Report: Saudi Government Privately Mocks Joe Biden"s Mental Acuity, Crown Prince Denies US President"s Oil Requests NEWS | 1 day ago "Sleeping Bitcoin" Spends Slow Down Considerably in 2022, as 92 Decade-Old BTC Worth $1.79 Million Wake Up NEWS | 1 day ago

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