Polygon partners BitGo to provide regulated Matic Coin custody

Now the Matic coin holders will get better support on the BitGo platform.

Polygon blockchain is a popular Proof-of-stake (PoS) consensus-based network. Initially, Polygon jumped into the Crypto industry to support the Ethereum blockchain network as a scaling solution provider but now Polygon standing at the position of Ethereum’s biggest rival.

On 20 Jan 2023, the Polygon team announced that the popular Crypto custody platform BitGo added support for Matic coin. So now Matic coin holders can hold their funds on BitGo with full safety and also can stake their funds easily, which helps Matic holders to generate passive income.

As per Polygon, BitGo added support for Polygon (matic) for several reasons like low gas fees, better security & fast transactions via the Polygon network.

Chen Fang, COO of the BitGo, also stated on BitGo-Polygon partnership.

Fang said:

“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.”

Around a week ago, the Delhi fork was introduced in the Polygon blockchain on 13 Jan and network validators executed the upgrade on 18 Jan. Through the Hardfork, devs introduced more efficiency features in the Polygon network.

Matic price action

The current price of the Matic coin is $1.01 and this price is 28% high than the last 30 days’ trade price.

Perhaps, such news acted as a catalyst to boost the price of Matic coin but still this coin is down by approximately 39% over last one year of trade price.

Read also: Circle exec believes Congress will first take action on stablecoins

Polygon partners BitGo to provide regulated Matic Coin custody

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