Polygon Labs Extends Open Money Stack Stablecoin Rails to Solana

Polygon Labs has ported its Open Money Stack, a bundled stablecoin payments toolkit, to Solana — its first deployment on the rival network — the company announced this week.

The expansion gives Solana-based businesses one technical connection and one commercial contract to move money from bank accounts into wallets, convert funds across chains, and pay out to customers and suppliers worldwide.

What problem does the stack solve?

Sending a stablecoin is the easy part of crypto payments. The harder workflow — pulling funds from a bank account into a wallet, converting them, and landing them back in a recipient's bank account — usually requires several providers, each with separate integrations and contracts.

Open Money Stack collapses that chain into a single relationship. Businesses can adopt the full bundle or integrate individual components into existing systems.

Through the platform, a Solana business can:

• Connect bank, card, cash and crypto funding routes
• Spin up embedded wallets
• Route and convert funds across networks including Polygon, Ethereum and Tron
• Deliver payouts into banks, cards or wallets

A remittance provider, for example, could take dollars from a sender, deliver USDC on Solana, and connect the recipient to a bank payout.

Who is building on it?

Sandeep Nailwal, co-founder and CEO of the Polygon Foundation, framed the problem in institutional terms. "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," he said, adding that adding Solana lets more businesses build on the network their customers choose.

Cross-border payments firm Kira is among the first adopters on Solana. Kira uses the stack to help clients convert stablecoin transfers into dollars in their bank accounts to pay overseas suppliers.

Why Solana, and why now?

Solana has processed more than $5 trillion in stablecoin volume this year, according to the Solana Foundation. The figure anchors the network's rising pull as a payments venue.

Two recent developments reinforce that trajectory. Solana rolled out an institutional settlement standard with input from J.P. Morgan, and it shipped its Alpenglow upgrade.

For Polygon, the Solana deployment extends a payments push that includes its acquisition of crypto-cash firm Coinme. Deploying on a competing chain rather than confining tooling to its own network signals a shift in strategy: Polygon is positioning the Open Money Stack as chain-agnostic payments infrastructure, not a Polygon-only funnel.

The operational consequence cuts both ways. Solana businesses gain a single-provider route into banking rails they previously stitched together from multiple vendors. Polygon, in turn, gains transaction flow and commercial relationships on the network currently leading stablecoin settlement volume — effectively meeting rival-chain demand with infrastructure rather than competing for it exclusively at the chain level.

Whether the stack can convert Solana's settlement volume into contracted enterprise relationships will show in adoption over the coming quarters, as more banks and fintechs weigh single-connection integrations against bespoke multi-provider setups.