- Solana businesses can connect funding, wallets, conversions and payouts through one integration.
- Kira uses the infrastructure to help turn stablecoins into dollars for supplier payments.
- Coinme brought coverage across 48 states through 37 licenses and 11 applicable exemptions.
Polygon Labs added Solana support to Open Money Stack on October 29, connecting bank funding, digital wallets and payouts. The expansion lets businesses manage stablecoin payments through one integration while keeping their products on their chosen blockchain. Kira is among the early adopters, using the infrastructure to help customers convert stablecoins into dollars for supplier payments.
Open Money Stack Connects Bank Funding With Solana Wallets
According to the launch announcement, supported funding methods include bank transfers, cards, cash and cryptocurrency. Companies can convert funds into digital assets, hold customer balances and arrange withdrawals through supported payment channels.
Open Money Stack supports USDC, USDT, PYUSD, SOL and wrapped SOL across connected networks. Routing extends to TRON and Ethereum Virtual Machine chains, including Ethereum and Polygon.
Virtual accounts help businesses identify incoming bank transfers, while embedded wallets provide accounts within their applications. Developers can use the same wallet interface available for EVM networks.
Businesses can select individual services while retaining existing compliance providers, wallets or ledgers. The announcement does not specify a universal fee schedule or guarantee identical payout times across all supported routes.
Open Money Stack Builds on Earlier Cross-Chain Payment Links
The launch expands an existing relationship rather than introducing the first connection between the two ecosystems. Polygon Trails began supporting transfers between Solana and more than 20 EVM chains in August.Â
Kira serves fintechs, over-the-counter trading desks and import brokers needing dollar banking alongside stablecoin transfers. Its services include U.S. bank accounts, domestic payment networks and international supplier payments through SWIFT.
CEO Edrizio De La Cruz described the practical goal as getting stablecoin transfers into customers’ bank accounts as dollars. This addresses the conversion step businesses face when suppliers require conventional payments.
The expansion follows Polygon’s October 14 completion of its Coinme acquisition. That transaction added regulated U.S. payment capabilities to Open Money Stack, alongside its wallet and routing services.
Polygon’s acquisition announcement specifies coverage across 48 states through 37 money transmitter licenses and 11 applicable exemptions. Its U.S. payments business is also registered with FinCEN as a money services business.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
