The move aligns with the platform’s aim to run a Polygon Validator node. Validators are on-chain entities that offer computing power to proof-of-stake networks to process on-chain data and confirm transactions.
Nabil Manji, SVP, Head of Crypto and Web3 at Worldpay, said Worldpay’s entry into the polygon network as a validator would demonstrate the “potential of the Polygon PoS chain for financial services.
The announcement was made during the ongoing SIG FinTech Festival. and according to it, it is part of a wider strategy to become the first global merchant acquirer and fortune 250 company to become a Polygon Validator.
— Polygon – MATIC 💜 (@0xPolygon) November 2, 2022
The settlement of the USDC stablecoin for clients will be enabled byBCW Group, a Fintech-focused strategy consulting & technology firm specializing in next-generation technologies. BCW Group will host and operate a validator node to ensure the processing and validation of transactions.
Hamzah Khan, Head of DeFi and Labs at Polygon, explained that by validating USDC payments and settlements, Worldpay will be “expanding Web3 settlement capabilities” to a “hungry” network of clients across the globe.
Earlier this year, Worldpay announced a partnership with Circle to allow crypto native and traditional businesses to build a customizable settlement and treasury strategy that caters to their preferred currency.
Worldpay is a global leader in the area of Card-to-crypto and Crypto-to-card processing, providing its services to top crypto exchanges.