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Coinbase to use Polygon’s Ethereum scaling solution to reduce prices, settlement times

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An exact date for the L2 integration has not yet been made public.

An engineering team at the U.S. cryptocurrency exchange Coinbase plans to integrate Polygon’s layer-two (L2) scaling solution for Ethereum with the exchange platform.

  • The move marks a first for Coinbase’s protocol team, which will attempt to reduce high prices and long settlement times, according to a press release on Tuesday.
  • Integrating with Coinbase will allow exchange users to withdraw directly onto a supported L2 solution.
  • An exact date for the L2 integration has not yet been made public.
  • The Coinbase  is an experienced group of engineers aiming to contribute to the scaling of blockchains and community building. The team focuses on integrating various technologies with Coinbase products.
  • The aim is to help “level the playing field” while ensuring retail users don’t get priced out of being able to participate in this budding ecosystem, according to the release.
  • “This will certainly help to improve the Coinbase user experience,” said Polygon’s co-founder Sandeep Nailwal.
  • Last month,  with rollup platform Hermez Network in a $250 million deal, marking the first complete merger of one blockchain network into another.” FxStreet

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Categories
Crypto News

Coinbase Adds Option To Buy Crypto With Apple Pay, Google Pay To Follow

Coinbase Adding More Payment Options

 addition to Apple Pay, Coinbase also announced plans to add in the option for users to be able to buy crypto using Google Pay later in the year. The feature is set to roll out in the Fall, which would open up over 150 million people in over 40 countries to the option of seamlessly buying crypto.

These additions would add to their existing list of ways their users could already purchase cryptocurrencies. With U.S. customers being able to purchase crypto using debit cards, wire transfers, or ACH, or just using funds currently available in their Coinbase USD wallets.

Coinbase continues to work on more ways to provide users access to buy crypto. Providing global access continues to remain a key focus, and on this note, Coinbase now allows users to purchase crypto using Visa and Mastercard credit and debit cards in over 20 countries presently. And the crypto exchange plans to add more countries to this list as time goes on. Newsbtc