According to a recent announcement, BitPay, a cryptocurrency payment processor, will begin supporting Polygon MATIC token this week.
Users will now be able to pay at a variety of global merchants using Polygon’s native token via the most popular Polygon wallets as a result of this new development.
MATIC and several other supported ERC-20 tokens, such as USDC, DAI, BUSD, and WBTC, are also available for purchase, storage, swapping, and spending on Polygon by BitPay app users.
Panini America, a collectibles marketplace, is among the first to accept MATIC payments.
“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 co-founder Sandeep Nailwal said.
Polygon hosted over 53,000 decentralized apps as of the end of September, according to Alchemy data. Polygon PoS has processed over 2.1 billion transactions to date, with 174.9 million unique user addresses and $5 billion in assets secured.
BitPay announced support for the ApeCoin (APE) cryptocurrency and the euro-backed stablecoin Euro Coin (EUROC) in August, as reported by U.Today.
In December 2021, Bit Pay officially began supporting the Shiba Inu coin, allowing SHIB to be spent at hundreds of BitPay merchants that accept Shiba Inu.
Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Wrapped Bitcoin (WBTC), and USD-pegged stablecoins are all supported by BitPay (BUSD, DAI, GUSD, USDC and USDP).