According to a Twitter announcement, coinbase Users will soon be able to send and receive Ethereum (ETH), Polygon (MATIC) and USD Coin (USDC) on Polygon in the coming month. For the first time, Coinbase has made it possible to send and receive these assets on the L2 or sidechain thanks to the Polygon integration.
We’re making it faster, easier and cheaper to access Web3: Next month, eligible Coinbase customers will be able to send and receive ETH, Matic and USDC @0xPolygon and USDC on @solana.https://t.co/vVLnk1DTZ2 pic.twitter.com/j93F4rKd6C— coinbase (@coinbase) 23 June 2022
Additionally, Coinbase launched support for USDC transfers on Solana, while soon committing to adding additional tokens and support for the network.
The leading cryptocurrency exchange outlined the rationale behind the move in an official blog post. According to the post, sending cryptocurrencies over Ethereum has become more and more expensive for users, reducing the cost of millions of potential users.
Although cheap networks such as Polygon and Solana have grown in popularity recently as a result of these high gas prices, funding wallets on these networks can be difficult and time-consuming.
Coinbase claims that it wants to reduce time, effort, and exorbitant fees by enabling customers to convert fiat currency into cryptocurrency and fund their Polygon and Solana wallets in minutes and at a fraction of the cost.
In this way, multichain asset support enables easy deposits and withdrawals in Solana, Polygon and Ethereum, with trading and settlement in a single orderbook independent of the chain used to deposit funds.
coinbase pro migrate
Recently, Coinbase announced its plans to launch Coinbase Advanced Trade in the coming months. This will create a new, integrated Coinbase account that will give consumers the option to have an enhanced trading experience by merging the features and pricing structure of Coinbase Pro.
In a simple interface that links all Coinbase accounts in one place, it seeks to provide a much better experience where users no longer need to maintain two completely separate apps and balances when they use advanced trading tools. want to do.