What is POL (ex-MATIC)
Polygon (previously known as MATIC, renamed POL in 2024) is a scaling solution (layer 2) for Ethereum, launched in 2017, enabling faster, cheaper transactions while remaining tied to the security of the main Ethereum network.
The switch from the MATIC token to the new POL token in 2024 is part of a broader plan to expand into an ecosystem of connected networks ("AggLayer") rather than a single chain — an important technical and branding change for anyone who previously held MATIC.
Frequently asked questions
Is POL (ex-MATIC) regulated in the UK?
The UK has its own evolving regime for cryptoasset regulation, separate from the EU's MiCA framework. Crypto exchanges and custodians must register with the FCA for anti-money laundering purposes, but this doesn't equate to the investor protections that regulated financial instruments like ETFs and shares carry.
What's the difference between buying POL (ex-MATIC) on an exchange versus via an ETP?
On an exchange you hold the keys directly (or the exchange custodies them for you); an ETP (Exchange Traded Product) is instead a listed financial instrument that tracks the price, purchasable through the same broker account you'd use for ETFs and shares.
How is POL (ex-MATIC) taxed in the UK?
Gains from cryptocurrencies in the UK are generally subject to Capital Gains Tax, with specific rules that differ from those for ETFs and shares held in an ISA — this is an evolving area, so check the latest HMRC guidance or speak to a tax adviser for your situation.
