Bitso —the leading financial services company powered by crypto in Latin America— announced that today it will integrate with the Polygon PoS protocols, offering $MATIC token on/off ramping natively on Polygon PoS. This hits a big milestone for Bitso, as it is their first ever native integration with a Layer 2, and a huge step forward that responds to requests of the crypto community in Latin America. 

The $MATIC token is the native token of the Polygon PoS network used to help secure the network and can be used for staking and paying for transaction fees. $MATIC was already listed on Bitso since last year, but only through the Ethereum network. With this integration, Bitso users will be able to acquire $MATIC token on its native blockchain, Polygon PoS, benefitting from its reduced costs (lower gas fees) and increased transaction speeds (more than 100X than currently on Ethereum).

“We are excited to announce this integration, not only because it is our first support of a Layer 2, but also because we acknowledge that Web3 users in Latin America may be priced out of the Ethereum network and its opportunities due to the high gas fees. Therefore we’re thrilled that our millions of users can now participate from Bitso into one of the leading Layer 2: the Polygon PoS Network”, Andrés Salcedo, Head of Crypto at Bitso, said.

The Polygon suite of scaling architecture have positioned it as the “de facto” chain for mass adoption of Web3, having already surpassed the +3Bn total transactions milestone, and an increasing community of developers supporting and building on it.

“With this integration we will be able to support our users on/off ramps into the Polygon ecosystem with MATIC, the native token for the Polygon PoS protocol. Allowing them to participate in the future applications of the digital world at a lower cost with fast settlements, while leveraging the benefits of the Ethereum network from their Bitso account”, Salcedo mentioned.