The officials at a major cryptocurrency firm known as BitPay have made a very praiseworthy announcement for their users.
The platform has announced that it has formed a new partnership to offer more cryptocurrency convenience to its users.
BitPay Partners with Polygon Network
The executives at BitPay were glad to share that they have formed a new partnership with the Polygon Network that would prove to be very promising for their users.
According to the executives, their partnership with the Polygon Network would allow the Polygon teams to form a bridge between the Polygon blockchain and BitPay’s network.
This way, the users would gain access to the cryptocurrencies currently being offered and supported through BitPay.
With the new partnership, the BitPay users would gain access to the Polygon Network’s ERC-20 tokens. The users would be able to use these tokens in order to make payments for their day-to-day needs.
BitPay and Polygon Joined Hands
The executives at both BitPay and Polygon confirmed on October 26 that they had joined hands and their collaboration would bring Polygon blockchain-based tokens to the BitPay application.
The teams were glad to reveal that out of all the tokens, the most useful token for the customers would be USD Coin (USDC). It is a stablecoin that is pegged with the USD and it circulates through the entire Polygon blockchain.
Crypto Industry’s Perception
In the past, it was perceived that USDC was available only to the firms and users that interacted with the Ethereum blockchain. However, the situation has changed entirely now that Polygon blockchain has access to the same.
According to the officials, the USDC would be available for usage on the BitPay application by the end of the current week.
Circle, which is the issuance company behind USDC has made things quite interesting for the entire cryptocurrency industry providing USDC to the Polygon Network.
It was in the month of June 2022 when Circle reportedly partnered with Polygon and let it use the USDC on its platform. The entire process took place through the Polygon Bridge that the network formed with Circle.
BitPay Gets More than Just USDC
After the deal, it is not just USDC that BitPay would get from the Polygon Network. It would get much more than that and it would be other tokens that BitPay currently supports on its network.
The users on BitPay would gain access to other ERC-20 tokens that BitPay permits and are available through the Polygon Network.
According to the communication made by the BitPay officials, the users would also gain access to coins such as Polygon Ether, Polygon Wrapped Bitcoin, and Polygon Dai, and the list also includes Polygon USDC.
BitPay to Introduce New Coins in Future
One of the executives at BitPay, Bill Zielke stated that this is not all that they are aiming to offer their users in near future. They aim to expand the list of tokens they want to offer their users.
For now, they are planning to stick with the mentioned tokes but have plans of adding more tokens in near future.
Zielke revealed that they are already reviewing several tokens they want to offer their users through the BitPay application. However, the reviewing process may take some time so the users have to be patient.
Zielke did drop a hint that their users would be filled with joy when they get to know about the new tokens they are aiming to bring to the table.
It is going to be a tremendous news for their users and would end up sending a frenzy across the board.
Price of Polygon to Surge
As the Polygon blockchain is forming a deal with BitPay, it would also benefit significantly. Just like Litecoin (LTC), Ether (ETH), Bitcoin (BTC), and BNB Coin (BNB), Polygon (MATIC) is considered a major crypto.
As Polygon gains more recognition through BitPay, the adoption level of MATIC may also rise, bringing more value to the asset.