Latest News
Sequoia Capital India Leads $450 Million Round for Polygon With SoftBank, Galaxy, Tiger, Republic Capital
The backing from leading global institutions is a vote of confidence in Polygon’s position as Ethereum’s leading scaling solution and the team’s vision for Web3.
Polygon raised about $450 million in a funding round led by Sequoia Capital India with participation from more than 40 major venture capital firms including SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital and prominent investors like Alan Howard (co-founder, Brevan Howard) and Kevin O’Leary (Mr. Wonderful from ABC’s Shark Tank).
Polygon’s first major financing round since the project’s founding in 2017 has also attracted contributions from Alameda Research, Transcend Fund, Makers Fund, Animoca Brands, global video game leader and games industry investor Scopely, dune ventures, Union Square Ventures, Alexis Ohanian’s Seven Seven Six, Elevation Capital, Sino Global Capital, DCG, Standard Crypto, Celsius, Dragonfly Capital, Variant Fund, Blue Pool Capital, WorkPlay Ventures (led by Zynga founder Mark Pincus), and many more. The funds will be raised through a private sale of Polygon’s native MATIC token.
This will allow the team to consolidate its lead in the race to scale Ethereum, obviating the need for alternative blockchains and paving the way for mass adoption of Web3 applications. Polygon is building a suite of scaling solutions, including Polygon PoS, Polygon Edge and Polygon Avail, that is similar to what Amazon Web Services offers Web2 developers — a tool for every possible use case. The team is also investing in cutting-edge zero knowledge (ZK) technology that will be key to onboarding the next billion users to Ethereum.
Polygon has always been a community-first project and owes its success to the ecosystem of early believers, developers and stakeholders. This investment round is the tide that lifts all boats and exemplifies the role the community plays in making Web3 a reality.
“Web3 builds on the early Internet’s open-source ideals, enabling users to create the value, control the network and reap the rewards. Ethereum, scaled by Polygon, will be the bedrock of this next stage in the Web’s evolution,” said Polygon co-founder Sandeep Nailwal. “Technological disruption didn’t start with Web2, nor is it going to end there. That’s why we are very excited to see some of the same firms that funded the previous round of innovation now being our Web3 vision.”
The most pressing question for the Ethereum community has been how to increase the network’s capacity to handle more transactions. The skyrocketing popularity of new applications in decentralized finance (DeFi) and non-fungible tokens (NFTs) brought with it congestion and soaring fees. Polygon has stepped in with a broad range of scaling options and transaction rates that are among the industry’s lowest.
Over the past year, Polygon has attracted some of the biggest projects in Web3, from DeFi protocols such as lending platform Aave to luxury brands company Dolce & Gabbana and NFT marketplaces including OpenSea and Mark Cuban’s Lazy.com. Virtual worlds such as Decentraland and Animoca Brands’ The Sandbox are also laying the groundwork for the metaverse on the network. More than 7,000 decentralized apps (dApps) are currently building on Polygon, making it the main destination for Web3 platforms and developers.
“The platform of choice to build on the blockchain today is Polygon. Thousands of developers across a range of applications are choosing Polygon and their complete set of scaling solutions for the Ethereum ecosystem,” said Shailesh Lakhani, MD at Sequoia India. “This is an ambitious and aggressive team, one that values innovation at its core. Sequoia Capital India is thrilled to lead this significant financing round.”
Polygon PoS adoption has soared exponentially, with a billion transactions recorded last year. The network’s more than 130 million unique addresses and over 2.67 million monthly active users now generate some 3 million transactions per day, more than double the volume of Ethereum. Polygon’s native MATIC token has a market capitalization of over $12 billion.
To make sure the growth can continue into the foreseeable future, Polygon is making major investments into zero knowledge cryptography, a technology widely seen as the end game for blockchain scaling. The core development team made it a centerpiece of its strategic vision in the Zero Knowledge Thesis published in August. As part of that mission, the team has committed $1 billion, a significant portion of the treasury, to ZK-related efforts.
Polygon is now home to an unrivaled collection of ZK efforts. The portfolio includes a zkEVM being developed by Polygon Hermez, privacy-focused Polygon Nightfall rollup built in collaboration with EY, Polygon Miden’s general purpose STARK-based rollup and Polygon Zero team applying a technique called recursion to ZK proofs.
“Adoption by individual users and enterprises, the emergence of real-world applications like DeFi and NFTs, and broader involvement from the institutional community are all strong indicators that Web3 has passed a major installation milestone and is here to stay,” Galaxy Digital CEO Mike Novogratz said. “Together, Polygon and Ethereum are building the base layer for a new Internet, which is why we’re excited to play a role in this important fundraise.”

Latest News
SPAYZ.io expands payment network across Asia, Africa, and the Middle East
Reading Time: 2 minutes
SPAYZ.io, a global payment service provider has expanded its payment network to four new countries across Asia, Africa and the Middle East, with new payment integrations in Turkey, Egypt, South Africa, and Tanzania.
Merchants in Turkey can access Havale bank for pay-in and payout transactions. In Egypt and Tanzania, SPAYZ.io has introduced Mobile Money solutions, supporting the growing demand for mobile-first financial services. Finally, in South Africa, the company has rolled out EFT bank transfer capabilities, providing a reliable and widely adopted payment method for local and international merchants.
Looking to Q4 2025, SPAYZ.io will be launching services in the United Arab Emirates and Singapore. In the UAE, merchants will soon be able to utilize bank transfer options for both pay-in and payout transactions, supporting the region’s dynamic and digitally driven economy. In Singapore, SPAYZ.io will offer PayNow for pay-ins and bank transfers for payouts, aligning with the country’s advanced financial infrastructure and consumer preferences for fast, secure digital payments.
SPAYZ.io will be exhibiting at SIGMA Rome to discuss its current and future payment solutions, including these new launches, as it plans for a host of new announcements in the coming months. Partners, merchants, and industry leaders can visit Booth 6007 at Fiera di Roma from 3rd to 6th November 2025, to find out more and discuss opportunities for collaboration.
Tatjana Meluskane, Chief Commercial Officer, commented: “We’re not just watching the rise of digital payments in Africa, we’re proudly helping to shape it. These are still cash driven economies, where the potential of digitalisation and online payments has not been realised.
“At SPAYZ.io, our mission is to bridge that gap with infrastructure that’s not only fast and secure, but trusted. What we’re seeing now is a tipping point – mobile-first ecosystems, agent networks, and real-time bank rails are converging to redefine the payments sector. We look forward to discussing with our partners at SIGMA Rome.”
You can schedule meetings with SPAYZ.io at SIGMA Rome by emailing [email protected].
The post SPAYZ.io expands payment network across Asia, Africa, and the Middle East appeared first on European Gaming Industry News.
Latest News
Final Sixteen teams confirmed for the BLAST Rainbow Six Munich Major
Reading Time: < 1 minute
Sixteen Teams Locked In for the BLAST Rainbow Six Munich Major
8–16 November 2025 | BMW Park Arena, Munich
The countdown to the BLAST Rainbow Six Munich Major is officially on as the 16 qualifying teams from around the world have been confirmed and are set to battle it out from 8–16 November 2025.
The Major marks the final stop of the 2025 season before the Six Invitational in February next year and will see the world’s best Rainbow Six Siege teams compete for championship glory, crucial Global Standings points and a share of the $750,000 prize pool.
The action kicks off 8–13 November behind closed doors, before culminating in front of a live audience at BMW Park Arena from 14–16 November, as fans bring the noise for three days of top-tier Rainbow Six esports.
The 16 teams competing in Munich:
- Team Secret
- Team Falcons
- Team BDS
- G2 Esports
- FaZe Clan
- FURIA Esports
- Ninjas in Pyjamas
- w7m Esports
- Spacestation Gaming
- Shopify Rebellion
- M80
- Wildcard
- Dplus
- CAG Osaka
- Weibo Gaming
- Enterprise Esports
With high stakes, fierce rivalries and the final Major title of the year on the line, all eyes turn to Munich as the stage is set for an unforgettable week of competition.
Limited tickets are still available – eventim.de/en/event/blast-r6-major-munich-2025-bmw-park-20359451/?srsltid=AfmBOopQhyzSgQxb_US-Zn88vxsiuTymssx09erEQ1eVWWymEFEnisHf
Fans can grab tickets to experience the electric atmosphere live at BMW Park Arena, watch the world’s top teams battle it out for the final Major crown of 2025, and celebrate the very best of global Siege esports.
The post Final Sixteen teams confirmed for the BLAST Rainbow Six Munich Major appeared first on European Gaming Industry News.
Latest News
Cubeia expands Originals Studio with Turbo Crash launch
Reading Time: < 1 minute
Cubeia, a Sweden-based iGaming software solutions provider, has unveiled the latest addition to its Originals Studio, Turbo Crash – a fast-paced, adrenaline-fuelled game designed to test players’ instincts.
Turbo Crash challenges players to make the ultimate risk-versus-reward decisions in search of astronomical returns. Players place their bets and watch the multiplier soar higher and higher – but timing is everything. It’s possible to cash out at any moment with a single click and every round can be verified for total transparency and trust thanks to its Provably Fair design.
Turbo Crash continues Cubeia’s Originals Studio mission to create operator-first, fully brandable games inspired by its Operator-Up philosophy – built from the ground up around what operators and their players need.
Cubeia’s investment in gamification and community-driven features is reflected in its latest release with challenges, achievements, and duels all available to bring players closer together.
A very successful first year for Cubeia Originals has validated this approach, and with Turbo Crash, the company is setting the pace for what an Originals experience can become as it scales the portfolio further.
Cubeia’s Head of Sales, Caroline Björkman, said: “Launching Turbo Crash as we approach our first anniversary is the perfect way to celebrate how well Originals Studio has established itself in the market. In less than a year, we’ve launched ten distinctive titles – from Mines and Crash to Turbo Crash – and built a portfolio that operators can rely on and players genuinely enjoy.”
The post Cubeia expands Originals Studio with Turbo Crash launch appeared first on European Gaming Industry News.
-
Latest News2 months ago
Light & Wonder to Participate in the 2025 Australasian Gaming Expo
-
Latest News2 months ago
ReferOn Shortlisted for Acquisition & Retention Partner of the Year at SBC Lisbon 2025
-
Latest News2 months ago
Gavin Hamilton Joins Sports & Wellbeing Analytics as Chairman to Accelerate Global Expansion
-
Latest News2 months ago
Duels for Friends in Trophy Hunter. Invite your friends and create a shared space for fun and competition.
-
Latest News2 months ago
BC.GAME Launches “Nezha” Slot with Up to 46,656 Ways to Win and 10,000x Max Payout
-
Latest News3 months ago
Uzbekistan Introduces Penalties for Illegal Gambling Operations
-
Latest News4 weeks ago
Announcement: 25th September 2025
-
Latest News2 months ago
NODWIN Gaming Acquires Sony Interactive Entertainment’s Stake in Evo; Becomes Majority Holder
You must be logged in to post a comment Login