Coinbase Adds Support for Polygon’s Rebranded Token POL

Coinbase, a leading U.S. crypto exchange, has announced support for Polygon's rebranded token, the Polygon Ecosystem Token (POL).

The token, previously known as MATIC, will be available on Coinbase under an experimental label, signaling potential high price volatility or low trading volume.

Coinbase had earlier indicated the addition of POL to its listing roadmap, a move aimed at transparency and preventing market manipulation.

The rebranding from MATIC to POL was proposed in July as part of a strategy to enhance Polygon’s network usage and foster growth.

Polygon Labs founder, Sandeep Nailwal, explained that POL would enable multi-chain staking with reduced risks, aligning with Polygon 2.0’s vision of creating a network of interconnected layer-2 chains.

As part of this transition, POL will replace MATIC as the primary staking and gas token for the Polygon ecosystem. The community will eventually decide whether to broaden POL’s use cases.