Polygon Labs has extended its Open Money Stack, a comprehensive suite connecting bank accounts, crypto wallets, and payout services, to the Solana network. This development enables businesses and developers building on Solana to access funding from bank accounts, offer customer wallets, and orchestrate payouts through integrated solutions.
Expansion to support stablecoin demand
Polygon Labs CEO Marc Boiron identified strong customer demand and robust stablecoin activity as key drivers behind the decision to bring Open Money Stack to Solana. Earlier this month, a similar expansion was made to Tron amid rising usage across various blockchain ecosystems.
Token Terminal data shows Solana registered approximately $5.76 trillion in stablecoin transfers between January 1 and October 27. Tron saw an even greater figure, with $6.94 trillion in stablecoin transfers during the same period.
Vibhu Norby, chief product officer at the Solana Foundation, emphasized that as payment activity increases, connecting Solana to bank accounts, wallets, and global payout networks positions businesses to deliver stablecoin payments to a broader customer base and reach new markets.
Integrated payment solutions and ecosystem adoption
Polygon’s Trails service has already facilitated transfers between Solana and Ethereum-compatible networks since August. Boiron noted that the latest improvements enable businesses to leverage bank, card, and cash funding, customer accounts, embedded wallets, and streamlined payout options using a single integration point.
He also observed that businesses increasingly operate across multiple blockchain networks and want to avoid the complexity of piecing together separate bank providers, wallets, routing services, and payout partners for each network.
Boiron explained that the Open Money Stack had previously been available for eligible use cases on Polygon, Ethereum, and other Ethereum Virtual Machine (EVM) networks, and that expanding to Solana broadens the reach of integrated payments infrastructure.
Ecosystem data compiled by The Grid indicated that, as of last year, there were 478 companies and 261 projects operating within the Solana ecosystem. Among the early adopters of the new integration is Kira, a service offering US dollar accounts and stablecoin-based cross-border payment solutions for businesses.
Regulatory foundation and acquisitions
The move to include Solana follows Polygon’s acquisition of Coinme, which provided its US payments division with 37 money transmitter licenses and 11 state-level exemptions, allowing the company to serve customers in 48 states across the country.
With stablecoin transaction volumes remaining high on Solana, businesses invested in this blockchain may require timely access to relevant transfer and funding data. CryptoAppsy’s real-time charts and customizable portfolio tools provide Solana-focused enterprises and users with up-to-date insights, helping them respond quickly to market shifts linked to the network’s expanding payment utility.
Polygon continues to seek opportunities to expand its payments infrastructure as interest in blockchain-based settlement options gains momentum among traditional and digital finance providers.
