Polygon Labs Extends Stablecoin Payments Stack to Solana

Polygon Labs is extending its stablecoin payments infrastructure to Solana, giving businesses on the rival network a single connection to move funds between bank accounts, wallets and cross-chain payment rails. The expansion brings Polygon's Open Money Stack — a bundle of payments tools — to Solana for the first time. The platform lets businesses connect bank, card, cash and crypto funding routes, launch embedded wallets, route and convert funds across Polygon, Ethereum and Tron, and deliver payouts to banks, cards or wallets. "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. Cross-border payments firm Kira is among the first adopters, using the stack to convert stablecoin transfers into dollars for overseas supplier payments. Solana has processed more than $5 trillion in stablecoin volume this year, according to the Solana Foundation.