Oct 29, 2026, 12:35 p.m. EDT
3 min read
Summary
- Polygon Labs is extending its Open Money Stack payment framework to Solana, granting enterprises access to banking deposits, user wallets, cross-network transactions, and cash-outs via a single setup.
- This collaboration does not combine the competing ledgers, but rather enables companies to move stablecoins on Solana while leveraging Polygon’s banking relationships and settlement tools.
- The international payments firm Kira is among the initial adopters, blending Solana’s stablecoin routing with Polygon’s banking bridges to assist clients in settling payments with international vendors using U.S. dollars.
Polygon and Solana have spent years battling over developers, active users, and transaction volumes. Today, the two distributed ledgers are joining hands to simplify how enterprises transfer value between digital currencies and legacy financial accounts.
Polygon Labs is integrating its Open Money Stack payment framework into Solana, empowering commercial entities on the opposing network to utilize banking capital, user wallets, cross-network transfers, and disbursements through one unified API.
Financial institutions and payment processors increasingly rely on stablecoins for clearing and settlement. Meanwhile, Polygon and Solana have spent years fighting for blockchain activity. Their pact grants their clientele—primarily enterprises—entry to both platforms without forcing them to pick a single network.
“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. “Businesses shouldn’t have to rebuild their payments infrastructure for every network,” he added.
In 2022, Polygon co-founder Sandeep Nailwal challenged claims that Solana had attracted more users, arguing that Polygon had more active users and developers. In 2023, Polygon paid $3 million to bring two prominent Solana NFT projects, DeGods and y00ts, onto its network.
The partnership agreement does not merge the two blockchains. Instead, it lets businesses continue using Solana to transfer stablecoins while relying on Polygon’s infrastructure for transfers to bank accounts and other payment services.
Jamal Raees, general manager of payments at Solana Foundation, said the partnership gives companies access to Polygon’s regulated payment services without leaving Solana.
“Our focus is to make it easier for payment and stablecoin activity to continue to scale on the network,” Raees told CoinDesk.
From rivalry to partnership
Solana has recorded more than $5.7 trillion in stablecoin transfers so far this year, Raees said.
Polygon has recorded more than $3 trillion in total transfers since launch. The figures include transfers between wallets, not just payments for goods and services.
Gupta said the two companies see an advantage in working together as traditional financial institutions enter the stablecoin market.
“As more banks and payment companies start using stablecoins, they’ll want access to the networks where their customers already hold funds,” he said. “They don’t want to rebuild their payments setup for each one.”
Businesses using Open Money Stack can accept bank transfers, card payments and cash through supported providers, create customer wallets, move assets between blockchains and send money to bank accounts.
Kira is among the first companies to use the new integration. The cross-border payments firm uses Solana for stablecoin transfers and Polygon’s banking connections to help its customers pay overseas suppliers in dollars.
Raees said banks entering the stablecoin market want to connect their existing systems to different blockchains without building separate payment infrastructure for each.
“Working with Polygon gives them more ways to do that, and the more ways there are, the faster adoption grows across the industry,” he said.
Polygon recently added TRON support to Open Money Stack and acquired Coinme, a U.S. crypto payments company. Both moves are part of its push into banking and payment services.
Gupta said Polygon wants businesses to use its payment services regardless of which blockchain their customers prefer.
Originally published at https://www.coindesk.com/business/2026/10/29/from-rivals-to-partners-polygon-and-solana-team-to-bring-stablecoin-payments-to-banks.
