Polygon brings its Open Money Stack to rival Solana, linking stablecoins to bank accounts
Polygon Labs said on Oct. 29, 2026 that Solana businesses can now run bank payins, wallets, cross-chain routing and payouts through its payments stack. Kira is among the first users.
TL;DR
- Polygon Labs said on Oct. 29, 2026 that its Open Money Stack (OMS) now supports Solana.
- Solana businesses can accept bank, card, cash or crypto deposits, hold funds in wallets on Solana, route tokens across chains and pay out to bank accounts, cards, cash or wallets, Polygon says.
- Cross-border payments firm Kira is among the first users, according to CoinDesk and The Block.
- Polygon says its fiat ramps are backed by money transmitter licenses across 48 U.S. states.
Two long-time rivals are now selling into the same payment flow. Polygon Labs said on Oct. 29, 2026 that its Open Money Stack (OMS) now supports Solana, letting businesses on that network run a stablecoin payment from bank payin to stablecoin balance to bank payout, according to a Polygon blog post.
The partnership does not merge the two blockchains, CoinDesk reports. Businesses keep using Solana to transfer stablecoins while relying on Polygon's infrastructure for transfers to bank accounts and other payment services.
What is live
Polygon lists six capabilities: accepting deposits by bank transfer, card, cash or crypto; converting fiat to crypto on Solana and back; storing funds in custodial or embedded wallets on Solana; programming money movements; routing tokens across Solana, Polygon and major chains; and paying out to bank accounts, cards, cash or wallets.
Routing supports USDC, USDT, PYUSD, SOL and wrapped SOL between Solana, TRON and EVM chains in a single transaction, Polygon says. Its fiat ramps are backed by money transmitter licenses across 48 U.S. states; The Block reports these came with Polygon's acquisition of Coinme, completed earlier in October 2026.
First user: Kira
Cross-border payments company Kira is among the first users. "We already use Solana to move stablecoins, and working with Polygon helps us turn those transfers into dollars in our clients' bank accounts when they need to pay suppliers," Kira CEO Edrizio De La Cruz said, according to The Block.
From rivalry to partnership
"Polygon and Solana may compete in certain areas, but Polygon has expanded beyond providing only a chain into broader payments infrastructure," Aishwary Gupta, global head of business at Polygon Labs, told CoinDesk. Solana Foundation's Jamal Raees told CoinDesk that Solana has recorded more than $5.7 trillion in stablecoin transfers so far this year; Polygon has recorded more than $3 trillion in total transfers since launch, CoinDesk reports, noting both figures include wallet-to-wallet transfers.
Polygon says Solana is "the next chain to get Polygon OMS support, not the last."
What it means for Web3 teams – Analysis
Payments infrastructure is going chain-agnostic: the competition is shifting from which L1 or L2 wins to who owns licenses, bank rails and payouts. Teams building stablecoin products can increasingly pick their settlement chain and buy the fiat layer separately. This is not investment advice.
FAQ
What did Polygon announce on Oct. 29, 2026?
That its Open Money Stack payments infrastructure now supports Solana, covering payins, wallets, cross-chain routing and payouts.
Are Polygon and Solana merging?
No. CoinDesk reports the partnership does not merge the blockchains; businesses use Solana for stablecoin transfers and Polygon for banking and payment services.
Which assets can be routed?
Polygon says USDC, USDT, PYUSD, SOL and wrapped SOL between Solana, TRON and EVM chains.
Who is using it first?
Cross-border payments firm Kira is among the first users, according to CoinDesk and The Block.
Sources
News summary based on the sources above. Not investment, legal or tax advice. Editorial policy & corrections · Report an error
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