Everchain Joins Polygon, Grants Access to Stablecoin

Everchain Joins Polygon, Grants Access to Stablecoin
  • Everest collaborates with the Polygon network
  • Polygon users can access Everest security features

Decentralized finance service provider Everest officially announced its collaboration with the Polygon network. The partnership will enable Polygon users and developers to access Everest’s eKYC/AML, biometric-based identities, and regulated CRDT stablecoin for fiat-in/out worldwide to the different DeFi projects in the space.

The integration of Everest technology to Polygon enables developers to program CRDT to represent any fiat deposits and limit its use to a specific purpose, retailer, or timeframe. It also enables the MATIC community to store CRDT natively in their Polygon wallets. 

Bob Reid, CEO of Everest, explained, 

With interoperability between Everest and Polygon, partners and users can transact across fully-regulated bridges between DeFi and TradFi. The new technologies will enable identity-driven services, new types of DeFi, and additional capacities to be built on the Polygon network.

He added, “Projects like Polygon are leading the way on this path, working to build the infrastructure for the next-generation economy. We look forward to further integrations and innovation to bring new kinds of financial services to all EVM-compatible chains in the world.”

On the other hand, the Ethereum network nowadays powers most of the project’s in the DeFi ecosystem. However, not all DeFi projects were able to have a seamless experience due to some unexpected system glitches and flaws that the ETH network is experiencing. This event made other crypto networks such as Polygon showcase their blockchain to all startup investors in the space.

In other news, Crypto.com has recently partnered with Los Angeles Lakers star LeBron James. Through his LeBron James Family Foundation, the NBA star has started a program to teach kids in his hometown Akron, OH to learn blockchain.

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