MATIC boosted as the crypto-friendly city of Lugano integrates Polygon PoS

November 23, 2023 06:09 AM PST | By Invezz

MATIC boosted as the crypto-friendly city of Lugano integrates Polygon PoS — Image source: Invezz

A boost to Polygon and MATIC

The development reinforces Polygon as a leading protocol for entities and jurisdictions seeking a slice of the growing Web 3.0 arena. The Indian state government of Maharashtra is the other jurisdiction to tap into Polygon to democratise its service delivery.

Given its growing role in Web 3.0 popularity, Polygon is also working on an ambitious upgrade that will see it rebrand to Polygon 2.0. Under the new era, the protocol will usher in newer features, including unlimited scalability, unified liquidity, and multichain interactions. Polygon 2.0 era could unlock value for the native token MATIC due to increased activity on the network.

The integration on MyLugano App now makes MATIC available to over 30,000 users. Following the news, MATIC saw marginal gains of over 3%, erasing some losses over the past week. However, the gains are also part of the broad-based recoveries in the crypto sector. Optimism has been building since the news that Binance has settled its long-standing case with the U.S. Justice Department.

The post MATIC boosted as the crypto-friendly city of Lugano integrates Polygon PoS appeared first on Invezz

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