From rivals to partners: Polygon and Solana team to bring stablecoin payments to banks

NewsBusinessPolygon Extends Its Stablecoin Payments Infrastructure to Solana The expansion gives Solana businesses one integration to connect bank funding, embedded wallets, cross-chain transfers and global payouts, with cross-border firm Kira among the first adopters. Polygon Labs is extending its stablecoin payments infrastructure to Solana, giving businesses on the rival network a single connection to pull money in from bank accounts, move crypto across chains, and pay out to customers and suppliers worldwide. The company said the expansion brings its Open Money Stack, a bundle of payments tools, to Solana for the first time.

The pitch addresses a persistent headache in crypto payments: sending the tokens is the easy part, but getting money from a bank account into a wallet, converting it and landing it back in a recipient’s bank account typically requires stitching together several providers, each with its own integration and contract. Open Money Stack collapses that into one technical connection and one commercial relationship, with businesses free to adopt the whole thing or mix individual pieces into their existing systems.