BitGo has announced the rollout of its polygon wallet and custody services for native MATIC token holders. BitGo users will now be able to securely stake their ERC-20 MATIC tokens on the platform and earn rewards.
Polygon (MATIC) staking is now live on BitGo
BitGo, a digital assets trust and security company providing regulated crypto custody services to institutional investors, has added support for polygon (MATIC), making it possible for MATIC token holders to store their tokens on the platform.
With the addition of polygon to the growing list of supported blockchain networks on BitGo, users will now be able to enjoy the firm’s full suite of services, including ERC-20 MATIC staking.
Commenting on the launch of MATIC token staking and custody, BitGo COO Chen 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.”
Launched in 2011, BitGo is one of the oldest crypto custody platforms for institutional investors. The Palo Alto-based firm claims to handle more than 20% of all bitcoin (BTC) transactions and supports over 300 blockchain-based digital assets, with $16 billion in assets under management (AUM).
BitGo’s integration of polygon comes at the heels of a recent hard fork upgrade by the latter to tackle the issue of gas fee spikes and bring several other improvements to the network. Polygon also recently announced the impending integration of zero-knowledge (ZK) rollups into its mainnet for improved scalability and privacy.
At the time of writing, the price of polygon’s native MATIC token is hovering at around $0.94, with a market cap of $8.23 billion, according to CoinMarketCap.