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Trustbar is live on Polygon to bridge the gap between blockchain and Fiat

Trustbar has launched the first phase of the decentralized exchange with the integration to Polygon. Trustbar is using the Polygon blockchain as the backend to decentralised exchange with the aim of building fiat capabilities directly to the blockchain.

Trustbar is taking decentralised exchanges to the next level with the integration to polygon. The Polygon Defi ecosystem has exploded over the past 12 months, however getting fiat into and out of defi still remains a challenge that includes multiple hops. To get fiat into and out of any blockchain currently involves going through a centralised exchange, which results in delays and extra fees. As the Polygon ecosystem continues to grow, Trustbar is looking to streamline how users deposit/withdraw fiat into the blockchain whilst also providing a full stack decentralised exchange.  

Trustbar has rolled out liquidity pools on the Polygon network which will allow DeFi users to earn fees on their crypto. Users will also be able to swap from any crypto currency to any crypto directly from their wallets without the need for trusting a third party. Trustbar is now looking to acquire a crypto licence which will enable the exchange to be able to process fiat deposits and withdrawals directly to the blockchain.

Trustbar is looking to eliminate the need of a centralised exchange in order for users to start using defi. At the moment centralised exchanges are the only way to get fiat into and out of the blockchain, and Trustbar is looking to change that. Trustbar is going to link directly to the user’s wallet. When a fiat deposit is received by Trustbar, the user’s nominated wallet will be credited directly with the USD deposit. Withdrawals will be requested by users by calling the Trustbar smart contract and submitting the transaction with the necessary crypto to withdraw. Upon verification, Trustbar will process a fiat withdrawal and send the payment directly to the users bank account.

  • Trustbar Pools are live and users can earn fees by depositing crypto into the pool, and earn further rewards in the form of the Trustbar token, by staking the pool token in the farm.
  • Trustbar Trade is going live on 25 September
  • Trustbar Liquidity generation event starts on 1 October
  • Trustbar Fiat Deposit/Withdraw Feb 2022 (subject to Crypto Licence in Estonia)

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns. If you’re an Ethereum Developer, you’re already a Polygon developer!

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.

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About Trustbar

Trustbar

Trustbar has built a decentralised crypto exchange with a focus on security, performance, and usability. Trustbar is a new decentralized cryptocurrency exchange that leverages blockchain technology and will use the blockchain to process transactions including fiat deposit and withdrawals.

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About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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