Polygon: BitPay to offer Support for MATIC

As per an official announcement, Polygon’s native token, MATIC, will finally be available on BitPay, one of the largest crypto payment services in the world. The BitPay app will allow users to purchase, store, exchange, and use MATIC, as well as a number of other ERC-20 tokens on Polygon, including USDC, DAI, BUSD, and WBTC.

Polygon co-founder Sandeep Nailwal stated,

“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.”

Some of the largest projects, such as Aave, Uniswap, and OpenSea, are housed at Polygon. Low prices, quick transaction speeds, and carbon neutrality are a few of the factors that have led businesses like Starbucks, Robinhood, and Stripe to select the network as their Web3 gateway.

BitPay is one of the largest crypto payment service providers, with thousands of clients. And as such, it would open the door for MATIC to be more widely used around the world.

BitPay CEO, Stephen Pair, 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.

Polygon’s MATIC getting close to $1

This morning the general crypto market received some much-needed relief. Major crypto projects began to rally in the positive direction, with Bitcoin (BTC) crossing the $20k mark. Ethereum (ETH) on the other hand rallied double digits, up by 13.4% in the last 24 hours.

Polygon (MATIC) also witnessed a surge in its charts. The token is up by 6.7% in the last 24 hours, and up by 19.7% in the last two weeks. The project broke a two-month downtrend and is finally in the greens. Nonetheless, MATIC is still 67.5% down from its all-time high of $2.92, which it attained in December of 2021.

Apart from the price angle, Polygon also attained a new all-time high number of active addresses. On October 12th, the network recorded 449.67k active addresses.

At press time, Polygon (MATIC) was trading at $0.946710, up by 0.9% in the last hour. The token is moving closer and closer to the $1 mark.