We are excited to announce the launch of Polygon (MATIC) on Abra. MATIC is now available for trading in the app. Polygon, formerly known as MATIC Network, is built as a layer 2 protocol that allows developers to scale and build infrastructure on the Ethereum blockchain. With Ethereum’s scaling issues tied to robust security and decentralization, Polygon has emerged as an alternative for many blockchain projects that want the best experience on the Ethereum blockchain network.
History of Polygon
Polygon launched in October 2017 on the Ethereum blockchain before moving to its mainnet in 2019. Polygon received support from the Ethereum team and also contributed to the Ethereum ecosystem. They helped integrate a Plasma MVP and the widely popular Dagger event notification engine on the Ethereum network. Since moving to its side-chain network in 2019, Polygon has been focused on developing its ecosystem with numerous partnerships and upgrades to its architecture.
Why did MATIC rebrand to Polygon?
Polygon was previously known as MATIC Network before it was rebranded in February 2021. This was done as a strategic play as they shifted ideology towards becoming the “internet of blockchain” on Ethereum. Polygon incorporates an all-inclusive ecosystem for Ethereum. It will be cross-chain compatible and drive Ethereum’s migration into a third-generation blockchain network. In summary, if you’re a long-term HODL’er of Ethereum, MATIC presents a strong value proposition to complement that network.
How can I buy Polygon (MATIC)?
You can trade MATIC directly in the Abra app. You can also purchase MATIC with a credit card here.
We offer resources such as videos and crypto investing guides to help you conquer crypto. Join our community and find more people achieving their financial goals through crypto. Download the Abra app and start trading today!
Download AppAbout Abra
Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Why Abra
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
Please visit our FAQ to learn more.
