CoinDesk
Polygon Labs is bringing its Open Money Stack payments infrastructure to Solana, combining stablecoin transfers on the rival network with access to bank funding, digital wallets, cross-chain transfers and payouts. The partnership does not merge the blockchains: businesses can keep using Solana while relying on Polygon's payment services through a single integration.
Solana Foundation payments chief Jamal Raees said Solana has recorded more than $5.7 trillion in stablecoin transfers so far this year. Polygon has recorded more than $3 trillion in total transfers since launch. Both figures include wallet-to-wallet transfers, not just payments for goods and services.
Why it matters
Banks and payment companies are increasingly exploring stablecoins, but serving customers across multiple blockchains can require separate infrastructure. Polygon and Solana are offering businesses a way to connect existing banking and payment services with activity on Solana, without asking them to choose one network or rebuild their setup for each chain.
Cross-border payments firm Kira is among the first users. It combines Solana stablecoin transfers with Polygon's banking connections to help customers pay overseas suppliers in dollars. Open Money Stack also supports bank transfers, card payments and cash through providers, alongside customer wallets and transfers between blockchains.
Market impact
The agreement gives Polygon a route to provide payment infrastructure to businesses using Solana, while Solana activity can connect with Polygon's banking and payout services. The companies see that reach as increasingly important as financial institutions look to connect existing systems with multiple blockchains.
Polygon has also added TRON support to Open Money Stack and acquired U.S. crypto payments company Coinme as part of its expansion into banking and payments. The partnership with Solana extends that strategy across a network that Polygon has previously competed with for developers, users and transaction activity.
Frequently asked questions
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Does Polygon's partnership with Solana merge the two blockchains?
No. Businesses can continue transferring stablecoins on Solana while using Polygon's payment infrastructure and banking connections.
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What services does Polygon's Open Money Stack provide?
It connects businesses with bank funding, digital wallets, cross-chain transfers and payouts. Supported providers can also handle bank transfers, card payments and cash.
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How much stablecoin activity did Solana and Polygon report?
Solana reported more than $5.7 trillion in stablecoin transfers so far this year. Polygon reported more than $3 trillion in total transfers since launch. Both figures include wallet-to-wallet transfers.
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How is Kira using the Polygon-Solana integration?
Kira combines Solana stablecoin transfers with Polygon's banking connections to help customers pay overseas suppliers in dollars.
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Why are the companies connecting Polygon services with Solana?
The integration lets businesses connect banking and payment services to Solana without building separate infrastructure for each blockchain or leaving the network.
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