Binance Now Supports Polygon [MATIC] Trading.

Binance Now Supports Polygon [MATIC] Trading.

2021-07-31 | Eddy Morgan

Binance Now Supports Polygon [MATIC] Trading.

Binance has fully integrated the Polygon [MATIC] mainnet onto its platform, consistent with an official update. From now on, Binance traders can deposit and withdraw MATIC via their Binance accounts while also interacting with decentralized apps, or DApps, like Sushiswap, Balancer, Aave, along others. This integration is supposed to make sure that traders can utilize said DApps cheaply and efficiently without using the prevailing Polygon bridge. While this announcement specifically focuses on the MATIC mainnet token, Binance also intends to support ERC20, BEP2, and BEP20 MATIC-associated tokens. Binance marks Polygon’s latest integration, as the network has already worked with Huobi and Coinbase Wallet, among others, to an equivalent effect. The scaling solution is supported by various Ethereum-centric services along with Metamask and Infura. DApp users are waiting patiently for Ethereum 2.0 to unravel several of its scalability issues. However, it appears that Polygon is filling that void for now. The network gives developers how to create unique sidechains for all of their DApps, which can indeed offer the required growth capabilities for mass adoption. Devs are already taking advantage of these capabilities, too. Recently, Polygon established the gaming-focused Polygon Studios to create decentralized games and harness the capabilities of NFTs [Non-fungible-tokens]. As for Binance, things may be a little more cloudy. The leading cryptocurrency exchange has just been banned in Malaysia. It has 14 days to cease operations within the region. This news comes shortly after learning Binance will pack up crypto derivatives trading in Europe, despite the platform’s cutting of withdrawal limits and its introduction of tax reporting tools.

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