Mobilum Technologies Completes Integration with Polygon To Launch Its Hosted On-Ramp & Beta Off-Ramp Solution Direct To DeFi
VANCOUVER, BC, Oct. 4, 2021 /CNW/ - Mobilum Technologies Inc. ("Mobilum'' or the "Company'') (CSE: MBLM) (OTC: MBLMF) (FRA: C0B), a technology-driven company making traditional finance accessible through digital payment infrastructure and digital asset management technologies, is pleased to announce that it has completed its Polygon ecosystem integration with its hosted fiat-to-crypto on-ramp and beta off-ramp solution available at https://polygon.mobilum.com.
Following the announced MOU with Polygon on July 29th, Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.
Platform highlights:
- Mobilum's hosted fiat-to-crypto on-ramp solution will be utilized to create a fiat-to-crypto bridge for Polygon.
- Users will be able to purchase MATIC (Polygon), MATIC (Ethereum) tokens, ETH, and other cryptocurrencies using their credit cards without setting up an account on a cryptocurrency exchange.
- Mobilum, together with Polygon, will provide a fully compliant, dual-protocol onramp service for Polygon users, who will be able to buy MATIC tokens (Ethereum and Polygon based) using Visa and Mastercard, worldwide.
- This solution is one of the first widely available direct to DeFi onramp services, where users will be able to directly buy tokens and stake them in DeFi protocols to be offered later this year)
In addition to the on-ramp solution, Mobilum has developed an off-ramp platform soon to be available to the Polygon community to provide a global corridor for crypto-to-fiat microtransactions. The Mobilum off-ramp will enable Polygon users to redeem Polygon tokens and other cryptocurrencies for gift cards across 80 different countries with over 2,000 retail brands without any fees. Polygon developers will also be able to integrate the Mobilum off-ramp widget inside their DApp. The solution aims to make cryptocurrencies spendable in regions with large unbanked and underbanked populations with limited access to crypto-to-fiat off-ramps. Polygon will provide technical support, guidance, and possibly development grants to Mobilum to enable further development on the Polygon ecosystem.
"Our mission is to fill a gap and become a real bridge between traditional finance and the new digital economy. We are very excited to announce this strategic ecosystem partnership with Polygon to launch one of the world's first payment rails for fiat directly to DeFi. Polygon has a world-class team and is one of the fastest, and is one of the most promising protocols in the blockchain space. With the upcoming launch of the beta version of our off-ramp solution, Mobilum is providing a much-needed service that is not yet readily available to the market," said Mobilum OÜ CEO, Wojciech Kaszycki. "Not only will users and developers be able to purchase Polygon tokens with a credit card, but soon they will also be able to use their cryptocurrency in the real-world by redeeming them for gift cards."
"We are excited to have Mobilum join the Polygon ecosystem and support development efforts on Polygon. The Polygon community believes that there are many untapped potentials and enabling crypto microtransactions in largely unbanked and underbanked parts of the world. We are hopeful that the fiat to crypto on/off-ramp will make crypto more accessible to the blockchain community at large," says Arjun Kalsy, VP of Growth at Polygon.
About Mobilum Technologies Inc.
Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF) (FRA:C0B) a technology driven Payment Service Provider (PSP) with a mission to make traditional finance accessible through digital payment infrastructure and digital asset management technologies. Our goal is to allow consumers around the world to convert fiat-to-digital currency with Mobilum's on-ramp gateway. Mobilum enhances shareholder value by building new technologies to manage digital assets. Mobilum has offices in Canada, Hong Kong, Poland and Estonia. For further information please go to Mobilum.com.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon's scaling solutions have seen widespread adoption with 700+ applications hosted, ~600M total transactions processed, ~60M unique user addresses, and $5B+ in assets secured.
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.
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This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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please contact Soy Garipoglu, Investor Relations, (778) 990-8985 or via email at [email protected].
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