Polygon has broadened its Open Money Stack (OMS) to include Solana, allowing eligible overseas businesses to connect to US banking rails without forming a US company. The expansion, announced on October 29, enables qualified firms to move dollars between traditional banks and Solana‑based stablecoins.
How the service works
Participating businesses can receive funds via bank transfers, cards, cash or crypto, convert those dollars into stablecoins on Solana, and issue payouts through the same channels. Funds may be held in embedded or custodial Solana wallets, and assets can be transferred across Polygon, Ethereum, TRON and other supported networks.
Target users
The offering is aimed at fintech firms, remittance providers and payment applications that need dollar‑denominated cross‑border services without building separate banking, custody and blockchain integrations.
Market context
Solana’s stablecoin market holds more than $15 billion, according to DeFiLlama, making it the third‑largest stablecoin ecosystem after Ethereum and TRON. Polygon itself ranks eighth with roughly $3 billion in stablecoin liquidity. Solana reported over $5 trillion in stablecoin transfer volume in 2026, indicating significant demand for infrastructure services.
Regulatory safeguards
Access to the OMS is limited to approved businesses that complete know‑your‑business verification. End‑user transactions require separate identity checks, and geographic and payment‑corridor restrictions apply. The service is currently in early access and requires an application before use.
