Polygon Labs Extends Open Money Stack to Incorporate Solana Network

This expansion enables businesses operating on Solana to use Open Money Stack for receiving funds from bank accounts, supplying wallets to customers, and managing payouts effectively.

Marc Boaron, CEO of Polygon Labs, told Cointelegraph that customer demand and the increasing activity of stablecoins prompted the decision to expand Open Money Stack onto Solana and, earlier this month, onto Tron.

According to Token Terminal data, Solana handled approximately $5.76 trillion in stablecoin transfers from January 1 to October 27 this year, while Tron recorded $6.94 trillion in the same timeframe.

Vibhu Norby, Chief Product Officer at the Solana Foundation, noted that as stablecoin activity grows, linking Solana with banks, wallets, and global payout networks enables businesses to reach more customers and markets through stablecoin payouts.

Since August, Polygon’s Trails service has facilitated transfers between Solana and Ethereum-compatible networks. The recent expansion adds capabilities for bank, card, and cash funding, customer accounts, integrated wallets, and payout solutions—all within the same integration, said Boaron.

Boaron explained that businesses have informed Polygon that their clients and payment activities are already distributed across multiple networks, and they prefer not to limit themselves to a single blockchain or to assemble separate providers for banking, wallets, routing, and payouts on each network.

He added that this comprehensive stack is already accessible for relevant use cases on Polygon, Ethereum, and other Ethereum Virtual Machine (EVM)-compatible networks.

Data from last year by ecosystem analytics provider The Grid showed 478 companies and 261 projects operating within the Solana ecosystem. Boaron mentioned Kira, a provider of US dollar accounts and cross-border stablecoin payment services for enterprises, as among the first customers utilizing the Solana integration.

This move into Solana comes after Polygon’s acquisition of Coinme, a transaction that granted Polygon’s US payment services access to 37 money transmitter licenses and 11 state exemptions, spanning 48 states.

The expansion of Open Money Stack onto Solana marks a strategic step toward enabling broader financial interoperability across leading blockchain networks, responding to growing stablecoin transaction volumes and customer demand for multi-chain payment and wallet solutions.