CryptoSlate
Polygon has expanded its Open Money Stack to Solana, giving eligible foreign businesses access to US banking rails in their own legal names without forming a US entity. The service connects bank transfers, cards, cash and crypto to stablecoin conversion and payouts. Solana held more than $15 billion in stablecoins, compared with about $3 billion on Polygon.
Why it matters
The integration targets fintech firms, remittance providers and payment apps that want to offer dollar-denominated services across borders without building separate banking, custody and blockchain systems. Businesses can receive funds, convert them into stablecoins and pay recipients through supported channels, while holding funds in embedded or custodial Solana wallets.
Polygon CEO Marc Boiron said the expansion reflects the company's aim to support money movement across blockchains. Polygon had already added Solana to its Trails routing infrastructure in August, enabling stablecoin and SOL transfers between Solana and more than 20 Ethereum-compatible networks. The new service adds banking access, customer accounts, custody and fiat payouts to that routing capability.
Market impact
Solana is the third-largest stablecoin network, behind Ethereum and TRON, according to DeFiLlama data cited in the seed. Solana also reported more than $5 trillion in stablecoin transfer volume in 2026. The figures give Polygon a route into a substantially larger stablecoin ecosystem than its own, where it ranked eighth with about $3 billion.
A remittance provider could receive dollars, convert them into USDC on Solana and let a recipient withdraw through a supported bank account or another payout channel. The service remains in early access: businesses must apply and pass know-your-business checks, while customers initiating payments face separate identity checks. Geographic restrictions and supported corridors determine which transactions are available.
Frequently asked questions
-
How does Polygon's expansion give foreign businesses access to US banking?
Eligible overseas businesses can use Polygon's Open Money Stack to access US banking rails in their own legal names without establishing a US entity.
-
What payment steps can businesses handle through the service?
Businesses can accept funds through bank transfers, cards, cash or crypto, convert funds into stablecoins and process payouts through supported channels.
-
How does Solana's stablecoin market compare with Polygon's?
Solana held more than $15 billion in stablecoins, while Polygon held about $3 billion, according to the figures in the seed.
-
What does the expansion add to Polygon's existing Solana routing?
Polygon had already enabled stablecoin and SOL transfers between Solana and more than 20 Ethereum-compatible networks. The expansion adds banking access, customer accounts, custody and fiat payouts.
-
Who can use Polygon's Open Money Stack on Solana?
The service is in early access and businesses must apply. Use is subject to business and customer identity checks, geographic restrictions and supported payment corridors.
CoinDesk
Lookonchain
CoinTelegraph
TheBlock
WuBlockchain