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Polygon Labs extends Open Money Stack payments suite to Solana
Solana businesses can now reach bank funding, embedded wallets and cross-chain payouts through one Polygon integration, with Kira among the first adopters.
Key takeaways
- One connection. Solana businesses can tap bank funding, embedded wallets, cross-chain routing and payouts through a single Polygon integration instead of assembling several vendors.
- First adopter. Kira is using the Solana route to turn stablecoin transfers into dollars in client bank accounts for overseas supplier payments.
- Builds on earlier steps. The launch follows Polygon's addition of Tron to the stack on Oct 8 and its completed acquisition of Coinme, which added licensing coverage across 48 states.
What happened
Polygon Labs has extended its Open Money Stack payments suite to Solana, the company said on Oct 29, opening its bank connections, wallet tools and payout rails to businesses building on the network. The announcement, reported by Decrypt, Cointelegraph and crypto.news, means teams can reach Polygon's payments infrastructure without moving their products off Solana.
Through the integration, a Solana business can accept funding from bank transfers, cards, cash and crypto, create customer accounts and embedded wallets, route and convert funds across Solana, Polygon, Ethereum, Tron and other EVM-compatible networks, and deliver payouts to bank accounts, cards or wallets. Companies can adopt the full stack or plug individual components into systems they already run.
Kira, a fintech that pairs U.S. dollar accounts with stablecoin-based cross-border payments, is among the first to adopt the Solana route. Its chief executive and co-founder, Edrizio De La Cruz, said the company already moves stablecoins on Solana but needed banking links to get the money to clients, and that working with Polygon helps convert those transfers into dollars in client bank accounts when suppliers must be paid.
First $119.76Latest $100.62-16.0% over the period
Points are daily observations, not closing prices.
Why it matters
The pitch targets a familiar gap in crypto payments: moving a token is straightforward, but pulling funds from a bank account, converting them and landing them in a recipient's bank account usually means assembling several providers, each with its own integration and contract. Sandeep Nailwal, co-founder and CEO of the Polygon Foundation, described that as the same problem every bank and fintech faces when connecting crypto to the accounts and payment systems customers already use, adding that support for Solana lets more businesses build on the network their customers pick.
Marc Boiron, Polygon Labs' CEO, told Cointelegraph that customer demand and stablecoin activity drove the decision to add Solana, after Tron earlier in the month. He said businesses tell Polygon their customers and payment activity are already spread across chains, and that they do not want to force a chain choice or stitch together a bank provider, wallet, routing service and payout partner for each network.
What the data shows
Figures cited around the launch measure different things. Token Terminal data put Solana's stablecoin transfers at about $5.76 trillion between Jan 1 and Oct 27, against $6.94 trillion on Tron over the same period. The Solana Foundation's chief product officer, Vibhu Norby, said the network handled more than $5 trillion in stablecoin volume in 2026 and described the Polygon integration as another path for businesses to reach those capabilities alongside existing Solana infrastructure. Polygon Labs said Polygon Chain, one of the settlement networks inside Open Money Stack, has passed $3 trillion in cumulative stablecoin transfer volume. The Grid, an ecosystem data provider, counted 478 companies and 261 projects on Solana last year.
Background
The Solana rollout follows Polygon's addition of Tron to Open Money Stack on Oct 8, which brought USDT deposits, wallet management and transfers between Tron and compatible networks through Polygon Trails. Trails has supported transfers between Solana and Ethereum-compatible networks since August. Polygon also completed its acquisition of crypto-cash firm Coinme, adding 37 state money transmitter licenses and 11 exemptions to its U.S. payments business, coverage it says spans 48 states. Kira had already been named alongside Tazapay, Mesh and Toku as an early Open Money Stack customer after that deal closed.
What to watch
Attention now turns to how many Solana businesses follow Kira. Polygon has not disclosed volume targets or how much of the stack's traffic it expects to route through Solana, and the commercial results of the Tron and Coinme additions are likewise not yet established. The Solana Foundation's own payments effort, including the September appointment of former Polygon Labs executive Jamal Raees as general manager of payments, is a related thread to follow.
Questions readers ask
What is Polygon's Open Money Stack?
It is a bundle of payments tools that connects bank accounts, cards, cash and crypto funding to digital wallets, cross-chain routing and payouts, offered as a single technical connection and commercial relationship or as individual components.
Does this mean Polygon is moving to Solana?
No. The expansion lets businesses keep their products on Solana while using Polygon's payments infrastructure for the money movement around them, including transfers to Polygon, Ethereum, Tron and other compatible networks.
Who is using it so far?
Kira, which provides U.S. dollar accounts and stablecoin-based cross-border payment services, is among the first customers adopting the Solana integration.
Sources · 5 publishers
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Polygon Labs brings Open Money Stack to Solana for payments -
Polygon adds Solana to payment stack linking bank accounts, crypto and payouts -
Polygon expands Open Money Stack to Solana, after Tron rollout
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Polygon Adds Solana to Open Money Stack in Major Expansion -
Polygon Extends Its Stablecoin Payments Infrastructure to Solana
