- The payments solution provider continues to bridge the gap between fiat and crypto by bringing USDC to millions through Polygon.
- This partnership will enable users to make fiat-to-USDC conversions in less than 30 seconds.
Fiat-to-crypto and payment solutions provider Wyre has announced a partnership with Ethereum scaling and infrastructure development platform Polygon. The collaboration was announced on July 22. Details of the partnership indicate that Polygon developers can use Wyre’s Checkout API to bring Polygon’s USDC token to their customers. This partnership has resulted in a fiat to USDC on-ramp that will be able to service customers globally and in 43 U.S states. Users will be able to make fiat to USDC conversions in less than 30 seconds. USDC will also be accessible via Wyre’s Check and Card Processing API.
Wyre CEO Ioannis Giannaros stated;
Wyre is excited to announce our integration with Polygon. Our Checkout API enables developers to quickly and easily provide fiat to USDC on-ramp for their users, making the Polygon network more accessible than ever before. We are really looking forward to working together with the Polygon team, as well as their developer ecosystem, to enhance their customer experience for everyone interacting with this ambitious protocol.
Sandeep Nailwal, Co-Founder at Polygon stated;
Wyre is putting everything into building a secure fiat-to-crypto onramp for the world to use. As the latest project to join Wyre’s mission, we’re doing what we can to bring millions of potential users into the crypto space.
Founded in 2013, Wyre has over the past years, worked at improving the world of decentralised finance (DeFi) by building infrastructure aimed at ‘bridging the gap between traditional banking and digital assets’. Developers have made use of its user-friendly APIs. Through various partnerships, the company has been able to process payments worth over $10 billion with upwards of 15 million end-users. The company’s start product is “Checkout”, self-described as “the world’s fastest fiat-to-crypto gateway”.
Wyre also recently partnered with NFT ecosystem Palm in an effort to raise artist awareness about NFTs earlier this month.
In June, it was announced that the company had integrated its payment gateways into Avalanche’s DeFi ecosystem. This enables developers using Avalanche to integrate Wyre’s fiat-to-crypto features into their applications. This brought users in the United States and over 50 countries to convert the US dollar and eight other currencies into the network’s network token, AVAX in roughly 30 seconds.
Speaking about the partnership, John Wu, President of Ava Labs stated’
Wyre’s integration into the Avalanche ecosystem dramatically improves the user experience for US individuals accessing DeFi on the platform. Wyre will also play a key role in bringing Avalanche to the masses with upcoming applications and marketplaces that are likely to be users’ first introductions into cryptocurrencies.