Polygon Expands Payment Infrastructure to Solana

Polygon has expanded its payment infrastructure to Solana, allowing businesses on that network to receive fiat money, convert it into stablecoins, and later withdraw it to a bank account, card, or wallet. The Polygon Open Money Stack now supports the full payment route for apps on Solana, including bank deposits, wallets, conversion, and traffic between different blockchains. The licenses apply in 48 U.S. states, but European availability has not yet been confirmed. Businesses can receive money via bank transfer, payment card, cash, or crypto, after which the amount can be converted and stored or sent on Solana. Polygon supports USDC, USDT, and PYUSD, in addition to SOL and a wrapped version of SOL. Money can be moved between Solana, Polygon, Tron, and other networks without users needing to operate a crypto bridge. Polygon refers to U.S. licenses for the connection with fiat money and has not announced a European license or launch date for the Netherlands. The collaboration between Solana and Polygon demonstrates that payment companies do not necessarily have to choose one blockchain.

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