The global provider of cryptocurrency payment solutions MoonPay has announced their support for Polygon, a protocol and framework for building and connecting Ethereum-compatible blockchain networks, to enable purchases of MATIC (Polygon’s token and PoS chain) assets with fiat currency.
MoonPay’s infrastructure facilitates the highest fiat-to-crypto on-ramp conversions currently available to the market, and will for the first time, garner an increase in global usership to the MATIC ecosystem. Users will now enable purchases of MATIC ETH, MATIC USDC, and Native MATIC with fiat currency.
MoonPay will reduce the barriers to entry for Polygon users on all payment methods from digital wallets, traditional credit, and debit cards. Their solution will enable users to access NFT marketplaces and decentralised apps – known as DApps – on the Polygon ecosystem. MoonPay will also send a small amount of MATIC for each Polygon USDC and ETH purchase, allowing customers to quickly transact without having to buy additional MATIC to pay for network fees.
Speaking on their support for Polygon, MoonPay’s CEO and Co-Founder Ivan Soto-Wright, who recently authored a guest post for The Fintech Times on the wider implications of NFTs on the financial sector, comments, “At MoonPay, we want to make buying and selling cryptocurrencies across all ecosystems seamless. Our agnostic support with Polygon creates whole new accessibility to MATIC for millions of users, and we are thrilled to have also enabled this access in the U.S. for the first time ever.
“MoonPay has moved beyond being a payment provider and we are now bringing new users from across the globe to the Polygon ecosystem. We are looking forward to crypto users, old and new, enjoying the simplicity this creates.”
MoonPay’s support of Polygon comes after a similar move by the payment solutions provider, who recently integrated their system with the DEX aggregator Matcha to power the crypto industry’s first DeFi platform to natively accept fiat currency.
Sandeep Nailwal, Co-Founder of Polygon added, “Integrating a fiat on-ramp onto our network has been our top priority, and finding the right partner to do this has been so important for us. MoonPay’s reputation and track record of seamlessly integrating fiat on-ramps into blockchain networks made them the perfect choice and we are excited to enable our customers across the world, and particularly in the US where it hasn’t been possible, to get onto the Matic ecosystem with complete ease.