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Home Crypto News Market Online Merchants Can Accept Payments in Polygon-Based Cryptocurrencies Through PayBolt

Online Merchants Can Accept Payments in Polygon-Based Cryptocurrencies Through PayBolt

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PayBolt, a Web3 cryptocurrency payment gateway, has made its official debut on the Ethereum Layer-2 scaling solution Polygon. 

The move is part of efforts to enable online merchants to accept Polygon-based tokens such as $USDC, $USDT, $MATIC, and $QUICK, as payments for their merchandise. 

PayBolt is committed to making cryptocurrencies the favorite payment method for online commerce, Polygon noted in a blog and Twitter post today. 


In a bid to make this vision a reality, PayBolt has already developed a crypto-to-fiat payment system supporting 150 fiat currencies, and the company is also making significant moves to lure more online merchants into using the service. 

Reacting to the development, PayBolt took to Twitter to celebrate the groundbreaking launch, saying

Thank you @0xPolygon. Let’s keep building for a better future. With PayBolt, we can.”

Polygon Features Imperative to PayBolt’s Goals

According to the cryptocurrency payment provider, its debut on the Polygon network will help it achieve its set goals faster than expected, as the popular Ethereum L2 scaling solution is endowed with mouthwatering features like performing transactions faster at a relatively lower cost. 

Using PayBolt’s cryptocurrency payment service comes with its benefits such as low transaction fees accompanied by a 0.5% Merchant Discount Rate (MDR), increased security, and near-instant settlement. 

PayBolt’s native cryptocurrency, $PAY fuels the payment ecosystem by rewarding the project’s cryptocurrency app users who use the initiative to purchase goods online. 

Growing Adoption of Polygon 

Polygon is gradually becoming the network of choice for different cryptocurrency-related projects, ranging from payment, and health, to non-fungible tokens (NFTs). 

Last month, Raiinmaker, a social media platform deployed on the Polygon network, launched a create-to-earn platform that will see its users be rewarded with non-fungible tokens for creating exciting content. 

Similarly, Polygon was also tapped by Zostel, an Indian-based hostel chain, to develop decentralized travel NFTs featuring exciting traits. 

The widespread adoption of Polygon has contributed to the growth of the network’s users, as the number of active addresses on the L2 blockchain surges.  

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.


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