Polygon expands Open Money Stack to Solana for stablecoin payments
Polygon Labs has integrated its Open Money Stack payment infrastructure with the Solana blockchain. The solution will allow businesses to conduct cross-border stablecoin settlements, transfer funds between networks, and interact with traditional banking systems through a single interface.
According to the official press release, the platform combines tools for funding accounts, creating crypto wallets, converting digital assets, and sending payments to recipients in different countries.
The expansion is part of Polygon's strategy to develop infrastructure for corporate payments. Kira, a company specializing in cross-border payments, has become one of the first users of Open Money Stack on Solana.
How Polygon's payment infrastructure works
Open Money Stack allows companies to connect bank accounts, payment cards, cash, and cryptocurrency wallets without having to enter into separate agreements with multiple service providers.
The system supports asset transfers and conversions across Solana, Polygon, Ethereum, and Tron. Recipients can withdraw funds to bank accounts, cards, or digital wallets.
For example, a payment service could accept U.S. dollars from a sender, convert them into USDC on Solana, and arrange for the funds to be deposited into the recipient's bank account.
Companies can use either the full suite of Open Money Stack tools or individual components, integrating them into their existing infrastructure.
Polygon co-founder Sandeep Nailwal noted that one of the main challenges in adopting cryptocurrency payments remains connecting blockchain services to conventional bank accounts and payment systems.
Kira is already using the new integration to convert stablecoins into U.S. dollars and subsequently transfer the funds to the bank accounts of overseas suppliers.
According to the Solana Foundation, stablecoin transaction volume on the network has exceeded $5 trillion since the beginning of 2026. For Polygon, the expansion also builds on its efforts to develop its payments business, including the acquisition of Coinme.
Polygon expands payment infrastructure in the U.S.
The expansion of Open Money Stack to Solana follows the completion of Polygon Labs' acquisition of U.S.-based Coinme. The deal has strengthened Polygon Labs' position in the regulated cryptocurrency payments market and expanded the platform's capabilities.
Through the acquisition of Coinme, the company gained access to licenses and regulatory exemptions allowing it to provide money transfer services in 48 U.S. states. The infrastructure will be used to process payments, distribute salaries, and conduct stablecoin settlements.
Earlier, we reported that analysts identified a suspected connection between two major traders on the Polymarket prediction market. After the swisstony wallet ceased activity, funds moved to the Flaznorp address, which exhibits a similar trading strategy across the Polygon and Ethereum networks.
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