The popular crypto exchange platform, Coinbase recently announced that they will now allow customers to send and receive cryptocurrency on multiple networks, starting with Polygon and Solana. Coinbase stated that the integration will make it “fast and simple” for customers to convert fiat to crypto and fund their Polygon and Solana wallets. MATIC and SOL are the native assets of Polygon and Solana, but other native stablecoins will also be supported soon.
The company stated in a blog post: “Over the next month, eligible Coinbase and Coinbase Exchange customers will be able to send and receive ETH, MATIC, and USDC on Polygon, and they’ll be able to send and receive USDC on Solana. Over time, we’ll add support for more tokens and more networks.”
Coinbase also noted that the cost of using Ethereum is driving users towards cheaper overlay systems or alternative networks. And that can cost a lot in transaction fees to send small amounts of Ethereum from the Coinbase exchange to a self-custodial wallet. The company hopes that the newest feature updates will hopefully mitigate some of these issues.
