Polygon plugs Solana into its money machine—because crypto loves a shortcut

Polygon Labs is bringing its Open Money Stack to Solana, giving businesses on the network a single integration for bank, card, cash and crypto funding, embedded wallets, cross-network routing and payouts. The expansion also covers customer accounts and delivery to banks, cards or wallets, while allowing companies to use the full stack or combine individual components with existing systems.

Businesses can connect funding routes, provide customer wallets and arrange domestic or international payouts through one integration. A remittance provider, for example, could accept US dollars from a sender, deliver USDC on Solana and connect the recipient to a bank payout. Polygon’s Trails service has supported transfers between Solana and Ethereum-compatible networks since August, while the broader Open Money Stack was already available for eligible uses on Polygon, Ethereum and other Ethereum Virtual Machine (EVM) networks.

Polygon Labs CEO Marc Boiron said customer demand and stablecoin activity drove the expansion to Solana and, earlier this month, Tron. “We hear from businesses that their customers and payment activity are already spread across networks and that they don’t want to force a chain choice or stitch together a bank provider, wallet, routing service and payout partner for each one,” he said. “As that activity grows, connecting Solana to bank accounts, wallets and global payout networks allows businesses to deliver stablecoin payments to more customers and markets,” said Vibhu Norby, chief product officer, Solana Foundation.

Cross-border payments firm Kira is among the first companies using the Solana integration. Kira provides US dollar accounts and stablecoin-based cross-border payment services to businesses, helping clients convert stablecoin transfers into dollars in their bank accounts to pay overseas suppliers. Last year, ecosystem data provider The Grid cataloged 478 companies and 261 projects in the Solana ecosystem.

The move follows Polygon’s completed acquisition of Coinme, which gave its US payments business access to 37 money transmitter licenses and 11 state exemptions covering 48 states. Token Terminal data showed about $5.76 trillion in stablecoin transfers on Solana between Jan. 1 and Oct. 27, compared with $6.94 trillion on Tron over the same period. The Solana Foundation reported more than $5 trillion in stablecoin volume this year, as the network also launched an institutional settlement standard with input from J.P. Morgan and went live with its Alpenglow upgrade.