Polygon expands Open Money Stack to Solana, after Tron rollout

Polygon Labs is expanding Open Money Stack, its suite of services connecting bank accounts, crypto wallets and payouts, to the Solana network.

The expansion lets businesses building on Solana use Open Money Stack to accept funding from bank accounts, provide customer wallets and arrange payouts.

Polygon Labs CEO Marc Boiron told Cointelegraph that customer demand and stablecoin activity drove the decision to expand to Solana and, earlier this month, Tron.

Solana recorded about $5.76 trillion in stablecoin transfers between Jan. 1 and Oct. 27, while Tron recorded $6.94 trillion in stablecoin transfers over the same period, according to Token Terminal data.

“As that activity grows, connecting Solana to bank accounts, wallets and global payout networks allows businesses to deliver stablecoin payments to more customers and markets,” said Vibhu Norby, chief product officer, Solana Foundation.

Polygon’s Trails service has supported transfers between Solana and Ethereum-compatible networks since August. The latest expansion adds access to bank, card and cash funding, customer accounts, embedded wallets and payouts through the same integration, Boiron said.

“We hear from businesses that their customers and payment activity are already spread across networks and that they don’t want to force a chain choice or stitch together a bank provider, wallet, routing service and payout partner for each one,” he said.