Polygon has expanded its Open Money Stack payment platform to Solana, according to a company announcement published on October 29. Businesses can now accept funds through bank transfers, cards, cash or cryptocurrency and convert them into stablecoins on Solana. After conversion into fiat currency, stablecoins can be transferred to a bank account, card, wallet or cash withdrawal outlet. Polygon is targeting fintech companies, payment applications and marketplaces, which can use the entire platform or selected features. The company says its dollar conversion infrastructure is backed by money transmitter licenses in 48 U.S. states, but it did not specify pricing, geographic availability or payment processing times.
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