After months of development, we are thrilled to make our private beta for crypto bill payments available to all Polygon users, beginning in the US. We chose to launch our crypto bill pay platform on Polygon given the network’s speed, industry-leading security, and ability to scale transactions in a highly cost-efficient manner.
Polygon’s thriving ecosystem creates incredible opportunities for our customers to earn more on-chain and generate passive income streams through DeFi, play-to-earn games, NFTs and their metaverse assets, all of which will soon be connected through Spritz to pay off monthly expenses, such as mortgage and rent, utilities, credit cards, student loans, or even a Netflix subscription.
In an increasingly digital world where earning and managing assets on-chain has grown quickly, we are focused on creating a network of bridges from the TradFi world directly to customers’ crypto wallets, making it simple for them to schedule bill payments on-time each month - without needing to off ramp to a bank.
By launching on Polygon, we will be able to program payments from any Polygon smart contract directly to any US bill pay account, including banks, credit card companies, and utilities providers, both nationally and regionally.
As part of the launch, and in addition to making crypto bill payments simple and secure, you can manage and grow your DeFi yields on popular Polygon apps, such as Aave, Sushiswap, and Quickswap, without needing to unwind positions. This can include growing your stablecoin yield farms and making payments in USDC, or even tapping into other assets held in your Polygon wallet, such as MATIC or LINK.
Enabling customers to earn more through DeFi on Polygon (rather than holding fiat in a checking account earning less than 1%), and using these on-chain assets to pay off real-world expenses, is the next frontier for personal finance in the Web3 era. By launching on Polygon, we are able to not only process these payments faster and cheaper, but can easily connect real-world expenses to the on-chain earnings of customers, in every way possible.
“The future of work is on-chain. People everywhere are increasingly viewing blockchain as a place to save, invest, and earn income--whether through yield farming, P2E games, or NFTs,” said Chris Sheehan, Spritz Founder and CEO. “The missing link for these folks is a way to use their on-chain earnings to fund their real life expenses. Spritz is the first web3 native billpay service, and we’re so proud to be launching on Polygon!”
As part of the beta launch, there are several options for Polygon users to easily pay their bills with crypto using Spritz.
Direct Wallet Pay
As part of the beta launch, there are several options for Polygon users to easily pay their bills with crypto using Spritz.
Direct Wallet Pay is the fastest and easiest way to pay real-world bills using USDC from any crypto wallet.
By integrating with popular wallets like Metamask for those holding, farming, or swapping USDC on Polygon, we can make near-instant payouts to thousands of US bill pay providers seamlessly, including banks, mortgage providers, and other TradFi institutions.
To learn more about how Direct Wallet Pay works, check out our product feature update from earlier this month.
Our crypto bill pay platform offers several important benefits for the Polygon community.
Connect real-world bills to your crypto wallet instantly
We make it easy to connect real-world expenses with crypto wallets. In a matter of minutes, you can create your account, link real-world bills, connect your wallet, and schedule your first payment - all with the flexibility of choosing which bills to pay when, and with which Polygon assets to make the payments with.
By connecting these monthly expenses to crypto wallets and on-chain assets, Spritz unlocks real-world financial utility for Polygon users, without the middlemen. This means taking full control of your everyday finances – with less transactions, less fees and more crypto left to invest and earn from.
Grow your DeFi yields in between payments
Through the Spritz Vault, users can access and manage a range of DeFi positions on Polygon, or start new ones on leading protocols, such as Aave or Quickswap. Any of which provide greater APY% rates and rewards than they ever could have earned through a traditional checking account.
Best yet, income generated from these yield farms can be programmed through the app to pay mortgages, credit cards, student loans, and more, with just the right amount. You can use just enough income generated from active DeFi positions to pay the bills and put the rest to work and maximize earnings!
No fees for on-chain transactions
As an added perk, Spritz beta users will enjoy zero transaction fees for any bills paid through the platform for an extended period of time. Additionally, we will cover the Polygon gas fees (we know they’re never a lot, but hey they’re still covered) when initiating the bill payment transfer.
All your bill pays, all in one place
Managing your personal finances and paying all those bills on time can be daunting and stressful. With our app, you can link all of your bills and expenses on one platform, auto-schedule payments with crypto, track everything (including your DeFi positions), and never have to worry about paying a bill on-time, or your digital assets not being put towards real-world use.
Polygon users in the US can now participate in the private beta, which has been designed specifically for DeFi users, and for anyone holding crypto on the Polygon network.
In order to request access, please join the waitlist from our website. You’ll receive an email with instructions on how to request access to the private beta, where you can also indicate that you’re active on Polygon. Preference will be given to US residents first.
Those qualified who enroll in our beta program will then receive a private beta invite with a link to the app. From there, beta users can instantly make bill payments through their Metamask (or any other crypto wallet on Polygon network) using USDC. Alternatively, you can fund your Spritz Vault in MATIC or other assets on Polygon, including yields generated from Aave, Sushiswap, and/or Quickswap.
By requesting access to the beta program, qualified users in the US will be able to schedule a dedicated 1:1 demo and onboarding session led by a Spritz team member.
Beta users are also encouraged to join the Spritz Discord community and get access to the private #beta-tesing channel to provide real-time feedback, share product requests, and be the first to know (and test out) exciting new product releases.
We will also offer unique rewards to early users, including NFTs and POAPs, Spritz swag, airdrops, and other prizes to be announced soon.
Empowering Polygon users in the US to pay their bills with crypto and DeFi is just the beginning. In the coming months, we plan to integrate with even more popular DeFi protocols on Polygon, as well as the network’s fastest growing p2e games, metaverse projects, NFT lending apps, and more.
Anywhere that you are spending time and earning on-chain, we aim to meet you there and build the bridges back to your real-world bills.
We are also planning to expand beyond the US, welcoming more Polygon users globally to pay their bills through our app.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
About Spritz Finance
Spritz Finance enables bill pay directly from crypto wallets and DeFi protocols, with no bank required, on a path to eventually connecting every smart contract and every traditional use of funds in the entire world – from mortgage payments and credit cards to monthly utility bills.
Through the company’s first product, customers can schedule their bill payments from their crypto wallets and favorite DeFi protocols without ever needing to unwind their positions or off-ramp through a bank. The company is currently in closed beta with a waitlist, which can be joined from the Spritz website.
