Polygon OMS adds Solana accounts and fiat payment flows

The release covers the complete money flow around a Solana application: accepting deposits, identifying owners, holding funds, moving assets between chains or wallets, and processing payouts. Solana can remain the application's settlement layer while Polygon provides surrounding banking, wallet and routing services. Applications can utilize these functions without first transferring their balances onto Polygon's infrastructure.

Fiat Integration

Customers can access the system through bank transfers, cards, cash or cryptocurrency. Polygon's fiat on- and off-ramp infrastructure is backed by money transmitter licenses across 48 US states and supports conversion between dollars and stablecoins on Solana. Virtual accounts identify the owner of incoming bank money, with each customer or business receiving a dedicated account for transfers.

After conversion, funds reside in a separate Solana account from the one used to receive bank transfers. Polygon offers both custodial and embedded wallets for these balances, with the embedded wallets now supporting Solana through the same API used for EVM wallets. Applications can create and manage customer accounts through this interface, keeping wallet and chain operations behind their own product screens.

Cross-Chain Routing

The routing component supports $USDC, $USDT, $PYUSD, $SOL and wrapped $SOL, allowing applications to receive assets on one chain and settle in a different asset on another. For example, an application can receive $USDC from an Ethereum wallet and settle in $SOL for a Solana user, or run the process in reverse.

Implementation Options

Solana businesses can adopt the entire stack or select individual components while retaining their existing wallet, compliance provider, ledger or settlement rail. Polygon offers the stack to fintechs, payment applications, marketplaces and other platforms building on Solana.

Polygon's routing system, called Trails, supports routes between Solana and more than 20 EVM chains in either direction, including Polygon, Ethereum, Base, Arbitrum, Optimism and Avalanche. The system handles infrastructure risks by noting that cross-chain functionality can depend on blockchain networks, smart contracts and third-party bridges outside Polygon's control.

While many components are live, Polygon indicates that additional features, including a single API for easy integration, are forthcoming. The company has not yet clarified the scope of the unified integration interface between its product pages.