Polymarket · CoinDesk
From rivals to teams up with: Polygon and Solana team to bring stablecoin payments to banks
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Polygon and Solana have competed for years for developers, users and transaction volumes.
Key facts
- 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
- In 2022, Polygon co-founder Sandeep Nailwal challenged claims that Solana had attracted more users, arguing that Polygon had more active users and developers
- Jamal Raees, general manager of payments at Solana Foundation, said the partnership gives companies access to Polygon’s regulated payment services without leaving Solana
Summary
Polygon Labs is bringing its Open Money Stack payments infrastructure to Solana, giving businesses access to bank funding, digital wallets, cross-chain transfers and payouts through a single integration. The partnership does not merge the rival blockchains but allows businesses to transfer stablecoins on Solana while using Polygon’s banking connections and payment services. The cross-border payments company Kira is among the first users, combining Solana’s stablecoin transfers with Polygon’s banking connections to help customers pay overseas suppliers in dollars.