Polygon Labs is extending its Open Money Stack stablecoin payments infrastructure to Solana, enabling businesses on the network to connect bank accounts, move crypto across chains, and process payouts globally through a single integration.
The Open Money Stack bundles payment tools that typically require multiple providers and integrations. Through the platform, Solana businesses can connect bank, card, cash, and crypto funding sources, create embedded wallets, route funds across Polygon, Ethereum, and Tron, and deliver payouts to banks, cards, or wallets.
"Every bank and fintech that wants to use crypto faces the same problem: connecting them to the accounts and payment systems its customers already use," said Sandeep Nailwal, co-founder and CEO of the Polygon Foundation. He added that bringing the stack to Solana allows more businesses to build on the network their customers choose.
Cross-border payments firm Kira is among the first adopters, using the stack to help clients convert stablecoin transfers into dollars for their bank accounts to pay overseas suppliers.
Solana processed more than $5 trillion in stablecoin volume this year, per the Solana Foundation. The network recently went live with its Alpenglow upgrade and rolled out an institutional settlement standard developed with input from J.P. Morgan. For Polygon, the expansion builds on its broader payments initiatives, including its acquisition of crypto-cash firm Coinme.