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FIS Subsidiary Worldpay to Enable USDC Settlements on Polygon
The company says it aims to run a Polygon validator node soon.
Updated May 9, 2023, 4:01 a.m. Published Nov 2, 2022, 9:11 a.m.
Payments platform Worldpay, a subsidiary of publicly traded FIS Group, will soon enable USD coin (USDC) settlement for clients on the Polygon blockchain as part of a broader strategy.
"We're excited to join the Polygon network as a validator and demonstrate the potential of the Polygon [proof-of-stake] chain for financial services, starting with our USDC settlement offering,” said Nabil Manji, senior vice president and head of crypto and Web3 at Worldpay.
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Validators refer to entities that supply computing power to a proof-of-stake (PoS) network to process on-chain data and confirm transactions.
Worldpay settlement of the USDC stablecoin for clients will be enabled by BCW Group, which will host and operate a validator node to ensure the processing and validation of transactions.
"By enabling USDC settlements, Worldpay from FIS is expanding Web3 settlement capabilities to a hungry market of clients across the globe,” explained Hamzah Khan, head of DeFi and labs at Polygon, in a statement.
Earlier this year, Worldpay announced its partnership with Circle to enable crypto-native and traditional businesses to build a fit-for-purpose settlement and treasury strategy that caters to their preferred currency.
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