COLLATERAL PAY DEBIT CARD REGISTRATION OPEN TO ALL | BACKED BY THE POLYGON NETWORK!
In the final upd8, the eighth of eight key announcements. Today, Collateral Pay is delighted to announce a partnership with Polygon. Collateral has received financial backing from Polygon and taken the commercial decision to move development from Polkadot.
The speed at which the Collateral Pay product development is moving has been really pleasing to see, and this partnership will complement that objective to go-to-market sooner than Polkadot.
Progress is now so advanced that today’s update includes news that ANYONE can now register for the Collateral Pay Debit Card.
The debit card, which instantly collateralizes Cryptocurrency to Fiat and gives customers the ability to pay for goods or services, at the point of sale anywhere in the world, without actually spending their crypto.
Over the last two weeks Collateral revealed news that the more $COLLG Tokens that are held, the higher level of card you will be able to gain access to, along with greater rewards from using the Collateral Pay Debit Card which will launch later this year. Collateral Pay Debit Cards will initially be distributed to $COLLG Tokens holders as a priority. As an example the top tier card, the Black Card can be accessed by holding 8 $COLLG Tokens, earning up to 8% cashback. Similarly, the Classic card has no barriers to entry and requires 0 $COLLG, though earns zero cashback.
Collateral expects that an announcement on finalising an agreement with Visa or Mastercard will come very soon.
PARTNERING WITH POLYGON
Security is the number one priority for Collateral Pay. Polygon, previously known as MATIC network, is an interchain scalability solution that gives an infrastructure for creating blockchain networks that can interface with each other. Polygon bring adaptability and scalability of alt chains along with Ethereum’s security, liquidity, and interoperability.
The Ethereum-centric strategy offers several significant advantages over competing systems. Polygon benefits from Ethereum’s general network effect of DApps and adoption, while also being “inherently more secure” due to Ethereum being the larger and more battle-tested blockchain. Polygon is also more open and powerful, primarily in terms of architecture types it can support. The platform can incorporate any Ethereum scalability solution, while also adopting Ethereum’s ethos of open innovation.
ANYONE CAN REGISTER FOR THE COLLATERAL PAY DEBIT CARD HERE.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 350+ Dapps, ~128M txns, and ~1M+ unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
COLLATERAL is the next generation payment gateway built on Polkadot and accessed through an interoperable crypto wallet, granting access to spending power by using crypto as collateral at the point of sale. The platform allows users to pay instantly by using crypto as collateral, giving its global user base access to funds and the ability to pay and spend crypto instantly anytime, anyplace, anywhere.
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