Polygon brings its stablecoin payments tools to Solana

Technology · First reported 29 Oct, 13:01 · Updated 17:52

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Polygon Labs has expanded its Open Money Stack to Solana, aiming to give businesses a single connection for bank, wallet and cross-chain payment services. A CoinDesk headline describes the move as the networks working together to connect Solana stablecoin activity with Polygon’s banking, wallet and payment infrastructure.

Polygon Labs says the expansion brings its Open Money Stack, a bundle of payment tools, to Solana for the first time.
The stack can connect funding routes, wallets, cross-network transfers and payouts; businesses may use the full platform or select components.
Cross-border payments firm Kira is among the first to use the stack on Solana, helping clients turn stablecoin transfers into dollars in bank accounts.

Summary written by Lux AI from 2 articles

Key facts

Expanding company: Polygon Labs
Product: Open Money Stack, a bundle of stablecoin payment tools
New network: Solana
Early adopter: Cross-border payments firm Kira
Reported stablecoin volume: More than $5 trillion on Solana this year, according to the Solana Foundation as reported by Decrypt