⏱ 2 min read
Businesses on Solana get a single connection for on‑ramps, cross‑chain conversion and payouts, the company said.
Polygon Labs has extended its Open Money Stack to Solana, bringing its stablecoin payments toolkit to the network for the first time, the company said. The report describes one integration that lets Solana businesses fund from bank accounts, move value across chains, and settle to bank, card or wallet.
One connection for funding, conversion and payout
The pitch targets a common bottleneck: moving money between bank accounts and crypto wallets usually means stitching several providers together, each with a separate integration and contract. According to the report, Open Money Stack reduces that to one technical connection and one commercial relationship. Firms can adopt the full stack or plug individual modules into existing systems.
Through the platform, a Solana business can connect bank, card, cash and crypto funding routes, spin up embedded wallets, route and convert funds across networks including Polygon, Ethereum and Tron, and deliver payouts to banks, cards or wallets, the report says. A remittance provider, for example, could take dollars from a sender, deliver USDC on Solana, and connect the recipient to a bank payout.
“Every bank and fintech that wants to use crypto faces the same problem: connecting them to the accounts and payment systems its customers already use,” said Sandeep Nailwal, co‑founder and CEO of the Polygon Foundation. The report adds that Solana support is meant to let more businesses build where their customers already are.
▲ 0.78%
Prices as of 2026-10-29 15:02 UTC. Source: CoinGecko.
Early adopters and Solana payments context
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 to pay overseas suppliers, according to the report.
The report also cites the Solana Foundation saying the network has processed more than $5 trillion in stablecoin volume this year. It adds that Solana recently rolled out an institutional settlement standard with input from J.P. Morgan and went live with its Alpenglow upgrade.
For Polygon, the move builds on a broader payments push that includes acquiring crypto‑cash firm Coinme, the report says. The report does not specify when full Solana support becomes available, what it will cost, or which banking partners are involved.
Source: Decrypt.
This article was written with AI assistance and reviewed by an editor.
This content is for informational purposes only and does not constitute financial advice.
🧠 HafidWatch Take
Polygon’s support for multiple blockchains could broaden its market reach but also expose it to competition from each network’s native players. Balancing the complexity of routing payments across Solana, Ethereum, and Tron while maintaining seamless user experience will be crucial. Without clear details on pricing or partner banks, it remains to be seen how effectively Polygon can leverage this multi-chain approach to capture a significant share of cross-border payments.
Daily crypto intelligence. Before the market opens.
Including the Divergence Index — the sentiment gap no other newsletter tracks. Free, every morning at 7:30am ET.
✓ Free forever · ✓ No spam · ✓ 50+ sources monitored
