Binance Completes Polygon Mainnet Integration For Deposits and Withdrawals

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Binance Completes Polygon Mainnet Integration For Deposits and Withdrawals

Leading cryptocurrency exchange Binance has completed the integration of Polygon mainnet to support deposits and withdrawals of the MATIC mainnet token.

Leading cryptocurrency exchange Binance has completed the integration of Polygon mainnet to support deposits and withdrawals of the mainnet token of the Ethereum-scaling network. 

Binance Now Supports MATC Mainnet Token

According to a press release shared with CryptoPotato on Friday, Binance users will now be able to make deposits and withdrawals with the MATIC mainnet token. 

They will also be able to utilize several DeFi dApps such as SushiSwap, Aave, Curve, and Balancer, without having to use the Polygon Ethereum Matic bridge and at a relatively low cost.

With the completion of Polygon’s mainnet integration, Binance has now joined a growing list of reputable crypto exchanges and wallet providers, including Coinbase, OKEx, Huobi, and Trust Wallet, to adopt the network.

In addition to allowing users to deposit and withdraw MATIC’s mainnet token, Binance noted that it would continue to allow deposits and withdrawals of ERC20, BEP2, and BEP20 MATIC tokens.

Driving Crypto Adoption

Polygon is an Ethereum scaling and infrastructure formerly known as Matic. The network is rapidly becoming one of the most widely adopted blockchains in the crypto industry, with a list of top players in its portfolio.

The project provides developers with a variety of tools to build and connect various chains that are compatible with the Ethereum network. Polygon’s Proof-of-Stake (PoS) commit chain is currently supported by Infura, Metamask, Alchemy, Etherscan, and many more.

The project’s scaling solutions, which it claims are designed for flexibility and independence, are currently adopted by over 450 dApps, with more than 13.5 million unique users and over 350 million transactions.

Polygon has been in the headlines lately. After announcing that it plans to develop a general-purpose blockchain for standalone chains, sidechains, and other Layer-2 solutions, the project launched a new blockchain unit that focuses on growing the global decentralized gaming and NFT markets.

Earlier this month, Polygon partnered with leading blockchain payments provider Wyre to provide a fiat-to-USDC on-ramp to customers across the world.