• Polygon has partnered with BitGo to provide MATIC holders with staking capabilities and rewards.
• BitGo decided to support Polygon due to its benefits like fast speed, low gas fees, higher security, and commitment to carbon neutrality.
• This is the latest in a series of strategic partnerships struck by Polygon.
Polygon, a decentralized Ethereum-based scaling platform, and BitGo, a provider of regulated custody, financial services, and core infrastructure for investors, have recently announced a strategic partnership. Through this partnership, MATIC token holders will now be able to stake their ERC-20 MATIC tokens and earn rewards.
The partnership was motivated by the various benefits that Polygon offers, such as fast speeds, low gas fees, and higher security protocols. Additionally, Polygon is committed to carbon neutrality, which was a huge selling point for BitGo. The COO of BitGo, Chen Fang, stated, “By offering more features for MATIC, we’re providing investors with a safer way to custody their assets and providing platforms with the tools they need to build the future.”
The partnership will provide MATIC holders with wallet and custody services. BitGo will offer Polygon’s native MATIC token in hot wallets and qualified custody. This means that MATIC holders will now have the ability to stake their tokens through BitGo and earn rewards.
This is the latest in a series of strategic partnerships struck by Polygon. The platform has also entered several partnerships with other platforms, most recently announcing a partnership with Mastercard to launch the Web3 Artist Accelerator Program.
The price of MATIC has been trending downward this week. At the time of writing, MATIC was priced at $0.969 on the one-day chart. Despite this, the partnership between Polygon and BitGo is still a huge milestone and will likely have a positive impact on MATIC’s price in the long-term.