Ethereum’s second-layers solution Polygon is on a partnership spree. The latest one to team up with the scaling protocol is the leading fiat-to-crypto and payment infrastructure company, Wyre.
Payment solutions related to digital assets have slowly exploded in the scene. Over the past couple of years, several companies and ventures have worked around this concept to offer payment solutions. According to the latest announcement, the main objective behind the integration of Polygon and Wyre is to provide a fiat-to-USDC on-ramp to users across the globe via through Wyre’s API.
What does the Polygon-Wyre partnership entail?
Currently, Polygon developers can integrate with the payment firm’s Checkout and Card Processing API into their decentralized applications [DApps], for aid users in converting their fiat to the protocol’s USDC token in less than 30 seconds. Wyre’s official press release revealed that the service stretches Polygon users worldwide which includes 43 states in the United States.
Ioannis Giannaros, CEO of Wyre acknowleged that Polygon was working to solve Ethereum scalability which is a big one to overcome. He also went on add,
“We’re looking forward to working with their developer ecosystem to make it easier than ever before for end users to purchase USDC with fiat. This is a huge step forward for the network and we can’t wait to be part of that journey.”
Sandeep Nailwal, the co-founder of Polygon revealed that the payment processor is “putting everything” into creating a safe and secure fiat-to-crypto onramp for the entire world to use. The exec also added,
“As the latest project to join Wyre’s mission, we’re doing what we can to bring millions of potential users into the crypto space.”
Wyre: In brief
The blockchain payment system had first entered the DeFi ecosystem in the year 2013. Wyre has reportedly integrated its API into several projects in the space, thereby streamlining the fiat to crypto on-ramp mechanism. With this, it has been providing its services to millions of customers.
Polygon’s other ventures
Polygon network has seen tremendous growth in recent times that resulting in scorsing some crucial partnerships. It is needless to say that, the network has sprouted as one of the most popular scaling solutions which has set the stage for various tech-savvy, institutional investors to swarm into the platform amid rising demand for Ethereum second-layer solutions.
Crypto-economy had recently reported that MoonPay, the leading crypto payment provider, revealed its plans to release the platform on Polygon blockchain. More recently, the popular NFT platform, Nifty Comedians announced its decision to launch on the Polygon network.
If you found this article interesting, here you can find more Blockchain and cryptocurrency news