VCs in Talks to Invest $50-$150M in Polygon: Report

Posted on by American Coins & Gold

VCs in Talks to Invest -0M in Polygon: Report
A group of venture capital (VC) investors are in talks to back Ethereum scaler Polygon with an investment of $50 million – $150 million, according to a report from TechCrunch on Monday.Sequoia Capital India and Steadview Capital are looking to make said investment through the purchase of MATIC tokens, the native coin of the Polygon network, TechCrunch reported, citing sources familiar with the matter.Polygon is a “Layer 2″ product, which work on top of primary blockchains in order to speed up transactions. It aims to solve the scalability problems associated with the Ethereum network, which has suffered from congestion and…