- Everest integrates with Polygon EverChain to be fully interoperable with Polygon PoS chain.
- Polygon users and developers to access Everest’s advanced security features.
- Everest users to access a wide array of features from Polygon’s scalability.
Everest, a licensed company with blockchain solutions for identity verification, eKYC, crypto custodianship, and financial services has announced a major integration with Polygon.
Polygon is a leading platform for Ethereum scalability and infrastructure development. The integration makes EverChain fully interoperable with Polygon’s PoS chain. Everest’s Everchain is a massively scalable payment solution.
By making its EverChain fully interoperable with Polygon PoS chain, Everest brings its suite of regulated financial services to Polygon’s “Internet of Blockchain.” Since Polygon’s is a leading platform for Ethereum scalability, Everest users will access a wide array of features.
Benefits of Everest’s features
Polygon users and developers will access Everest’s advanced security features. Notably, they will benefit from Everest’s biometric-based identities and eKYC/AML capabilities that will allow users to easily move their assets between DeFi and traditional finance through Everest’s network of payment rails.
Additionally, Polygon users will access the regulated $CRDT stablecoin which enables crypto to fiat transfers, interactions with traditional banking systems, and segregated institutional pools to facilitate DeFi projects in the ecosystem.
Importantly, Everest provides users access to over 200+ coin pairs, payouts, foreign exchange, earning and borrowing features, and staking. Finally, the integration will provide immediate access and addresses on both blockchains, bringing in more versatility in the respective ecosystems.
Commenting on the integration, Bob Reid, CEO of Everest said:
With interoperability between Everest and Polygon, partners and users can transact across fully-regulated bridges between DeFi and TradFi. The new technologies will enable identity-driven services, new types of DeFi, and additional capacities to be built on the Polygon network.
Why the integration with Polygon
While Ethereum is the reigning leader of DeFi, powering most projects in the ecosystem, the network is plagued by low throughput and high gas fee. The entry of Polygon, an Ethereum Internet of blockchains, aggregates scalable solutions to support a multi-chain Ethereum ecosystem. This increases scalability.
Moreover, Polygon is an interoperability protocol for exchanging arbitrary messages with Ethereum and other blockchain networks. This links decentralized finance with its traditional counterpart.
Speaking about further integrations Reid said:
Projects like Polygon are leading the way on this path, working to build the infrastructure for the next-generation economy. We look forward to further integrations and innovation to bring new kinds of financial services to all EVM-compatible chains in the world.