Matic Network & Coinbase Ventures

Matic Network Announced Coinbase Ventures as its Seed Investor

Coinbase is one of the most trusted and best cryptocurrency exchange platforms in the world. Matic Network is elated to announce that it is to obtain seed investment from Coinbase Ventures. This investment is aligned with the goals for achieving adoption via better usability alongside scalability and will help realise the clear vision for achieving scale for decentralised applications.

It comes as no surprise that stability and usability are two extremely important aspects of Cryptocurrency adoption for real-world use cases. Thusly, Matic Network has been exploring various ways to deal with the two. Users can use decentralised applications (dApps) built on Matic directly Coinbase Wallet’s browsers.

An official announcement by the Matic co-founder and CEO, Jayanti Kanani, made on Twitter proclaimed that Coinbase Ventures were one of its seed investors. See the Twitter post –

The advantages of the two parties working together were said in another tweet made by the company itself.

Moving ahead, Matic wallet will be in partnership with the Coinbase wallet that fits perfectly with their goal to improve its usability. The official announcement by the Platform stated that it would help users move their assets from Ethereum to Matic. Coinbase wallet will help dApp of Matic interact with Matic Network easily and in a secure way.

Now, the wallet users will be able to use Matic Network solutions to confer promptly and send resources with Matic-based DAic being directly available from the Coinbase Wallet.

Changpeng Zhao, Binance CEO, put out a tweet in reaction to this integration stating that whenever it comes to growing the ecosystem and building good projects, the firms are together as companions and not competitors.

For improving the network’s payment rails further, the company will be looking into integrating with other stablecoins including DAI and Circle’s USD Coin (USDC).

This can turn out to be a proactive step to prepare for the volatile cryptocurrency market. Etherscan, Alchemy, Block, and Dharma are among the high up crypto-focused projects and blockchains which Coinbase Ventures has invested in along with 30 others.