Polygon extends stablecoin payments tools to Solana

• Polygon Labs extended its Open Money Stack to Solana.
• The Open Money Stack bundles crypto payment tools into a single connection.
• Businesses can use the platform to connect bank, card, cash, and crypto funding routes.
• Funds can be routed and converted across networks including Polygon, Ethereum, and Tron.
• Kira is using the stack to help clients convert stablecoin transfers to dollars for overseas suppliers.

Polygon Labs is expanding its Open Money Stack, a suite of services connecting bank accounts, crypto wallets, and payouts, to the Solana network. The move allows businesses building on Solana to use the stack to accept funding from bank accounts, provide customer wallets, and arrange payouts. Polygon Labs CEO Marc Boiron cited customer demand and significant stablecoin activity on Solana and Tron as drivers for the expansion. Solana recorded approximately $5.76 trillion in stablecoin transfers between January 1 and October 27, according to Token Terminal data. Cross-border payments firm Kira is among the first customers utilizing the Solana integration to convert stablecoin transfers to dollars for overseas suppliers. This expansion follows Polygon's acquisition of Coinme, which bolstered its US payments business.