Polygon adds Solana to payments platform for cross-border bank transfers
The integration allows businesses to connect bank funding and stablecoins through a single system, with cross-border firm Kira among the first to use the service.
Key takeaways
- 1Polygon added Solana support to its payments infrastructure on 29 October.
- 2The system links bank funding, stablecoins, and global payouts in one integration.
- 3Solana's market value stood at $59.1bn at the time of the announcement.
Polygon added Solana to its stablecoin payments infrastructure on 29 October. The expansion allows businesses on the Solana network to use a single integration to link bank funding with digital asset wallets. The Block reported that the system connects traditional finance to cross-chain transfers and global payouts.
The platform, known as the Open Money Stack, handles stablecoin payments and bank account links. According to Decrypt, the cross-border firm Kira is among the first businesses to adopt the new Solana integration. Users can move funds between bank accounts and crypto wallets while managing transfers across different blockchains.
Solana is currently the seventh-largest cryptocurrency by market value. YourKhabri data shows the token was trading at $100.11 at the time of the announcement, a 1.7 percent fall over 24 hours. The network has a total market value of $59.1bn and is frequently used for high-speed payments and decentralised finance.
The move expands Polygon's reach beyond its own network and Ethereum-based applications. Businesses using the stack can now settle global payouts using stablecoins while maintaining connections to local banking systems. Market participants will monitor how many other cross-border firms follow Kira in adopting the unified payment stack.
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