Search results for Polygon Labs
Crypto
Polygon seeks up to $100 million investment, targets stablecoin payments business
Polygon Labs is negotiating to raise up to $100 million to build a stablecoin payments business, The Information reported, citing people familiar with the matter. Instead of selling Polygon tokens, it plans to sell $50 million to $100 million worth of equity in the new venture. The business aims to generate revenue from transaction fees and increase transaction volume on the Polygon blockchain, competing with Stripe, Coinbase and others.
Crypto
x402 agent payments protocol moves under Linux Foundation, KakaoPay joins governance
The Coinbase-backed agent payments protocol x402 has been transferred to the Linux Foundation. Under the arrangement, the 402 Foundation will manage and operate x402 within the Linux Foundation. Participants in the governance structure include Amazon Web Services, American Express, Ant International, Base, Circle, Google, KakaoPay, Mastercard, Microsoft, Polygon Labs, Shopify, the Solana Foundation and Visa. The x402 Foundation said it will run x402 on neutral principles under Linux Foundation governance.
Crypto
Polygon-backed Katana blockchain to acquire IDEX, expand into derivatives trading
Katana, a DeFi-focused Ethereum layer-2 blockchain, is acquiring decentralized exchange IDEX to expand the onchain derivatives market, The Block reported on March 23. The Polygon Labs- and GSR-backed project plans to build a new platform, Katana Perps. CEO Matthew Fisher said Katana aims to strengthen its stack and revenue structure and build infrastructure for the onchain perpetual futures market. Terms were not disclosed.
