Backed by Credit Suisse and Deutsche Bank, Taurus has partnered with altcoin project Polygon. Alchemy Pay has partnered with Mastercard to bring NFT Checkout, a direct payment method for digital artworks.
Taurus partnered with this altcoin project
Switzerland-based digital asset infrastructure provider Taurus aims to enable financial institutions and companies to issue tokenized assets on Polygon, the Ethereum layer-2 network. Taurus said the partnership with Polygon includes support for staking and decentralized finance (DeFi). The firm raised $65 million in funding in February in a round led by Credit Suisse and DeutscheBank.
According to experts, tokenization is attracting mainstream financial institutions towards the Blockchain industry. Tyrone Lobban, president of JPMorgan’s digital assets platform Onyx, called tokenization a “killer practice” for traditional finance in April. Last November, JPMorgan ran live transactions on Polygon using tokenized versions of the yen and Singapore dollar. In April, Bank of America released a report stating that the tokenized gold market had surpassed $1 billion in the previous month. Taurus made the following statement regarding their latest partnership:
Most Tier 1 financial institutions fall into this area. It is also developing capabilities to manage tokenized securities. They all want an infrastructure independent of blockchain and tokens.
The developers designed Polygon, a layer-2 blockchain, to process transactions at a higher speed than the main Ethereum network. Also, Polygon provides lower costs compared to Ethereum. Therefore, Polygon aims to go beyond Ethereum and become an “internet of blockchains” that connects all Ethereum-compatible networks. Accordingly, it aims to continue to reduce transaction costs and increase speeds. Meanwhile, the news of the partnership had a positive impact on the altcoin price. At press time, MATIC is trading at $0.90, up 0.96% on a daily basis.
Alchemy Pay collaborates with Mastercard
cryptocoin.comAs you follow, Alchemy Pay is collaborating with Mastercard for ‘NFT Checkout’. The partnership will make it possible to pay fiat money directly for NFT purchases. Thus, it will increase the accessibility and convenience of the NFT market. The company aims for the integration to increase accessibility to the NFT market. It also aims to revolutionize the way users interact with digital artworks.
A Medium post announcing the news states that Mastercard operates in more than 210 countries and has a circulation of 1.554 billion debit cards. In this context, he states that there is significant potential for NFT adoption.
Alchemy Pay said businesses can benefit from the ready-made solution. He also emphasized that users, especially those who are not crypto enthusiasts, will have a convenient and common way to purchase Non-Fungible Tokens (NFTs). In this context, he shared the following comment:
This significantly reduces the hurdles associated with long and arduous cryptocurrency purchases and transactions.
As of press time, ACH’s seven-day performance was a 10.2% gain. However, in the last 24 hours, the altcoin dropped 1.8% to $0.02966. Meanwhile, ACH hit an all-time high of $0.198666 on August 6, 2021. However, it still stands 85.1% below the ATH level relative to the current price.
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