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- Through USDC on the Polygon network, users can now send and receive money instantly around the world through SukuPay.
- This signifies the growing adoption of the Polygon network with real value being built around the ecosystem.
Suku World, a project that enables seamless cross-border payments has introduced a platform that allows users to send and receive money around the world with just their phone number. According to an announcement by the Suku World team, users are only required a phone number, with users having total control because of the SukuPay non-custodial nature.
The platform hails its technological prowess, stating that sending money is now as easy as sending a text. The announcement reveals that SukuPay will leverage Circle’s USDC on the Polygon network. This integration could lead to the mass adoption of the network, seeing it build real value and drive demand.
SukuPay aims to revolutionize money transfers with its user-friendly, global reach. Forget downloads, installations, or hidden fees – simply send money to a phone number. Recipients don’t need prior setup either; a quick login with their phone number grants them access to the funds.
🟢 The team at Suku is thrilled to introduce SukuPay! 💸
Send & receive money instantly with just phone numbers across 150+ countries.
Fully non-custodial. You own your money.
Test it now at https://t.co/AUlhLWTMQZ and experience the revolution. pic.twitter.com/8h13yRbu6O
— Suku (@Suku_world) April 16, 2024
This frictionless approach positions SukuPay to disrupt traditional payment and remittance services. Unlike solutions built solely for crypto enthusiasts, SukuPay leverages blockchain technology to deliver a seamless money transfer experience for everyday users, regardless of their crypto expertise.
Celebrating this accomplishment, Yonathan Lapchik, CEO of Suku, stated;
SukuPay can revolutionize payment transfers globally with its free, fully non-custodial solution that is easy for anyone to use in sending payments or remittances anywhere in the world. SukuPay is designed to make financial transactions more accessible to all, without the complexities that traditional crypto solutions have.
Polygon (MATIC) Price Outlook
Despite the announcement, Polygon’s MATIC has plunged 4.1% and is trading for $0.6744. The altcoin has been under intense bearish pressure, extending its losses by 24% in the last week.
With the Bitcoin halving fast approaching, this could offer some bullish relief for MATIC holders with BTC expected to rally. With a market cap of around $6.25 billion, the 19th-ranked altcoin has fallen out of favor with investors in the short term but its long-term bullish outlook is still promising.
As CNF recently reported, Polygon has officially announced that EURC (EURC.e) is now live on its zero-knowledge Ethereum Virtual Machine (zkEVM), expanding the list of tokens available to users. Furthermore, Polygon has unveiled the EIP-4844 proposal which promises to drive mass adoption for the network and drive MATIC prices higher. These developments will successfully see the network grow its capabilities and attract value to the ecosystem.
With the recent developments around the ecosystem, investors are eyeing the all-time high of $2.92 reached in December 2022. At current prices, the altcoin offers a 76% discount making it a low risk high-reward investment option for some investors.