Matic Network to Obtain Seed Investment from Coinbase Ventures

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Matic network provides scalable, secure and instant Ethereum transactions. Matic wallet will enable users to interact easily with Matic network while having a simplified User experience to make faster transactions.

The key aim is to change the decentralized transactions by leveraging a combination of blockchain scaling, developer platform and tools, and a rapid focus on User experience.

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Matic wallet will help users to interact with DApps and sign transactions easily while keeping their private keys safe on their mobiles. This is a great way of making blockchains reachable to mainstream users.

As mentioned earlier, Matic network aims to solve the problems faced by the blockchain ecosystem by building a decentralized platform using an adapted version of the Plasma framework. This enables low-cost transactions using Matic’s sidechain while also increasing the throughput.

Coinbase is one of the best and most trusted exchange platforms for Crypto in the world. Matic network is elated to announce Coinbase ventures as their investor in their seed round. This investment is aligned with goals to achieve adoption through better usability alongside scalability and will help realize the vision to achieve scale for decentralized applications.

As usability and stability are extremely crucial aspects of Crypto adoption for Real-world use cases, Matic network has been exploring different ways to achieve to deal with these. Users can use DApps built on Matic directly Coinbase Wallet’s browser or can use WalletConnect to access them through Matic wallet.

An official announcement by the co-founder and CEO of Matic network, Jayanti Kanani, made on the social media, Twitter proclaimed that Coinbase ventures were one of its seed investors. The twitter post stated:

The benefits of the two parties working together were stated in another tweet made by the Company.

Further ahead, Matic wallet will be in partnership with the Coinbase wallet which fits perfectly with their goal in order to improve its usability. The official announcement by the Platform stated that would help users move their assets from Ethereum to Matic. Coinbase wallet will help Matic’s decentralized app interact with Matic network easily and in a secure manner.

Now the Wallet users will be capable of using Matic Network solutions to confer instantly and send resources with Matic- based DAic being available directly from the Coinbase Wallet.

The CEO of Binance, Changpeng Zhao put out a tweet in reaction to this integration saying that when it comes to growing the ecosystem and building good projects, the companies are together as companions and not competitors.

It can be confirmed that this news has been received extremely well as a 22% increase in the MATIC token rate has been noted in the last 24 hours.

In order to further improve the network’s payment rails, the company will be looking into integrating with other stable coins like DAI and Circle’s USD Coin (USDC).

This can be a proactive step in order to prepare for the volatile market of crypto. Dharma, Block, Alchemy, and Etherscan are among the high up cryptocurrency centered projects and blockchains that Coinbase Ventures has invested in along with almost 30 several others.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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