Coinbase Ventures invests in blockchain scaling platform Matic Network

Matic Network, a blockchain scaling development platform and user interface tool, today announced Coinbase Ventures as an investor in its seed round. Coinbase Ventures is the investment arm of Coinbase, the popular US-based bitcoin and crypto exchange platform

This investment is aligned with the project’s goals to achieve adoption through better usability alongside scalability and will help the team realize its vision to achieve scale for decentralized applications.

Matic Network will offer scalable, secure and instant blockchain transactions using sidechains, while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.

“When one thinks about crypto adoption for real-world use cases, usability and stability are extremely crucial aspects. We have been exploring different ways to achieve to deal with these. For usability, Coinbase Wallet fits perfectly with our goal alongside Matic Wallet. Coinbase wallet will help Matic’s decentralized-app interact with Matic Network easily and securely. It will help users move their assets from Ethereum to Matic. Once the user’s assets are on Matic, they will be able to transfer and trade them on Coinbase Wallet instantly. Users can use DApps built on Matic directly on Coinbase Wallet’s browser or can use WalletConnect to access them through Matic Wallet.”

The Matic Network team has been busy and recently completed an IEO on Binance Launchpad.