Polygon Expands Open Money Stack to Solana Ecosystem

Polygon Labs is expanding its Open Money Stack, a suite of services connecting traditional finance to crypto, to the Solana network, following a recent integration with Tron.

The expansion allows businesses building on Solana to use the stack to accept bank account funding, provide customer wallets, and arrange payouts. Polygon Labs CEO Marc Boiron told Cointelegraph that customer demand and high stablecoin activity on Solana and Tron drove the decision. According to Token Terminal data, Solana recorded approximately $5.76 trillion in stablecoin transfers from January through late October.

“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 at the Solana Foundation.

The move follows Polygon’s completed acquisition of Coinme, which gave its U.S. payments business access to money transmitter licenses covering 48 states. Boiron noted that Kira, a provider of stablecoin-based cross-border payment services, is among the first customers using the new Solana integration.