Polygon Extends Its Stablecoin Payments Infrastructure to Solana

Polygon Labs is extending its stablecoin payments infrastructure to Solana, giving businesses on the rival network a single connection to pull money in from bank accounts, move crypto across chains, and pay out to customers and suppliers worldwide. The company said the expansion brings its Open Money Stack—a bundle of payments tools—to Solana for the first time.

Simplifying Crypto Payments

The platform addresses a persistent headache in crypto payments: while sending tokens is straightforward, getting money from a bank account into a wallet, converting it, and landing it back in a recipient's bank account typically requires stitching together several providers. Open Money Stack collapses that complexity into one technical connection and one commercial relationship.

Through the platform, a Solana business can connect bank, card, cash, and crypto funding routes, spin up embedded wallets, route and convert funds across networks including Polygon, Ethereum and Tron, and deliver payouts into banks, cards, or wallets.

Market Expansion

Cross-border payments firm Kira is among the first to adopt Solana through the stack, using it to help clients turn stablecoin transfers into dollars in their bank accounts to pay overseas suppliers. The move reflects Solana's growing pull as a payments venue, having processed more than $5 trillion in stablecoin volume this year.

For Polygon, the expansion builds on its broader payments push, including its acquisition of crypto-cash firm Coinme. The network recently rolled out an institutional settlement standard with input from J.P. Morgan and went live with its Alpenglow upgrade.