Binance interacts with the Polygon wallet, while the exchange is banned by another country
2 min readBinance according to the press release fully integrated Polygon core network (MATIC) on its platform.
Binance interacts with the Polygon wallet
From now on, Binance traders can deposit and withdraw MATICs through their Binance accounts. At the same time, they can communicate with decentralized applications (DApps), such as Sushiswap, Balancer, Aave and others.
The goal of this integration is to ensure that traders can use these DApps cheaply and efficiently without using the existing Polygon bridge.
Although this announcement specifically targets the main MATIC token, the exchange intends to also support tokens related to ERC20, BEP2 and BEP20 MATIC.
The situation around Binance is not favorable
The network has already worked with other wallets such as Huobi and Coinbase wallet for the same purpose. The scaling solution is also supported by various ETH-focused services, such as Metamask and Infura.
DApps users, meanwhile, are patiently waiting for ETH 2.0 solves scalability issues. However, Polygon seems to be filling this void for now. The network provides developers with a way to build unique side chains for all their DApps. These can provide the necessary growth opportunities for mass adoption.
Developers are already taking advantage of these options. Polygon recently established game-focused Polygon Studios to build decentralized games and use the NFT.
As for Binance, the situation is a little worse. Stock exchange just banned in Malaysia. It has 14 days to stop operating in the region. This report comes shortly after the information that the stock exchange end trade in cryptoderivatives in Europe, despite the fact that the platform has reduced collection limits and introduced tax reporting tools.
