Polygon (MATIC) Onboards First Ever US-Compliant Crypto Payroll Platform

One more Web3 financial application with an unusual use case goes live on Polygon (MATIC) smart contracts.

Franklin crypto and fiat payroll service launches on Polygon (MATIC)

Franklin, a service that empowers businesses and organizations with blockchain-based payment instruments, launches its open beta version for testing on the Polygon (MATIC) network.

We deployed the first U.S. compliant hybrid cash & crypto payroll platform on @0xPolygon because of its speed, cost, and robust developer community. Excited to see this network continue to crush it 🚀🪁 https://t.co/t5aIj35djI

— Franklin 🪁 (@franklinpayroll) November 4, 2022

According to a statement shared by its team yesterday, Nov. 4, 2022, this platform was chosen as a technical basis for new development due to its speed, cost efficiency and robust design.

Right now the platform is waiting for Web3 developers and businesses to join its beta testing campaign. Besides cryptocurrencies, the platform also supports fiat payouts.

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Franklin promotes itself as the only U.S.-regulated automated payroll service that works with digital assets. It streamlines payments to staff and contractors in the B2B segment, creates and fills tax reports and so on.

Polygon (MATIC) founder unveils his sensational endgame goal

Recently, Polygon (MATIC) scored collaborations with Meta’s Instagram and J.P. Morgan. As covered by U.Today previously, J.P. Morgan confirmed its first transaction on Polygon (MATIC) between the tokenized versions of SGD and JPY.

The experiment was helmed by Project Guardian, an initiative supported by the Monetary Authority of Singapore (MAS). Polygon (MATIC) co-founder Sandeep Nailwal stressed that the interest in his platform should be attributed to the opportunities unlocked by its second-layer scaler zkEVM:

This is all when world’s first “FULLY BUILT zkEVM” mainnet is almost here. It is not a promise of a future zkEVM, its not fake zkEVM mainnets to lure in new investors, but actually FULLY BUILT, source code available, verifiable proofs, fully functional and decently efficient production grade mainnet. See you soon on #zkEVM

Polygon (MATIC) zkEVM is a new-gen scalability protocol based on zk-cryptography. It reconsiders the interaction between L1 and L2 and makes it faster and cheaper.

Ultimately, Nailwal adds, he is focused on making Polygon (MATIC) the top three blockchain alongside Bitcoin (BTC) and Ethereum (ETH).