Polygon USDC becomes the first bridged version of USDC to attract support from Circle that facilitates faster payments and transactions at lower costs. The benefits extend to institutional traders and businesses looking to swap fiat currencies to and from Polygon USDC.
Swap and transfer of Polygon USDC to & from its native USDC are also available now across eight blockchains, including Ethereum, Avalanche, Algorand, Flow, and TRON, with three others.
Polygon Team shared the update through an official blog post wherein it highlighted that the update solidifies its strength as an entry point to the world of Web3. Businesses looking to enter the new world of decentralization will be able to do it with others based on the proven effectiveness of the technology.
Polygon has been built as a layer-2 solution on the Ethereum blockchain to scale operations further, and this assists the network offers a faster and lower-cost transaction. With brand new support in place, these benefits will enhance the ecosystem that offers functions off the main network for bridging various ERC-20 tokens and non-fungible tokens.
Conversion of fiat currency to & from Polygon USDC was a manual process. That now becomes automatic for businesses and decentralized applications, saving time and efforts while delivering better results effectively.
Customers on Circle will be able to avail these benefits despite events occurring exclusively for Polygon USDC. Receiving Polygon USDC would be an easy task as they discover how swiftly payouts can be processed at the most affordable cost.
Also, institutional traders can automate access to Polygon USDC in their Circle accounts to use stablecoins within the Polygon capital market. Known for carrying less volatility, stablecoins coming to effect has been a huge blessing for those who wish to balance the risk in the digital investment portfolio.
Developers would be able to transact the token through Circle APIs to experience the Web3 ecosystem. Future is here in the present, and traders have the opportunity to feel it with every inch of credit going to the partnership between Circle and Polygon USDC.
The addition of support is a significant step to promoting the adoption of Polygon’s scalability solution, which already is a base for 1.6 billion transactions by more than 142 million unique addresses and the hosting of more than 19,000 applications.
Earlier known as MATIC, the brand was founded in 2017 by a bunch of passionate geeks who believed in the power of crypto. Their belief is intact, resulting in better innovations with time. MATIS was officially rebranded to Polygon in February 2021, giving it a name that is now synonymous with success and gateway to the Web3 world.
Team Polygon took the platform carbon-neutral in April 2022 to add a new feather in recent days. This milestone followed the success of Polygon Zero Launch and Polygon ID Launch.