Polygon opens its 48-state payments stack to Solana businesses
Kira is among the first users as Polygon routes Solana stablecoins to U.S. bank accounts, less than three months before federal stablecoin rules take effect.
- Polygon Labs extended Open Money Stack to Solana on Oct. 29, with money-transmission coverage in 48 U.S. states.
- Solana held $15.6 billion of the $300.1 billion stablecoin supply on Oct. 26, according to DefiLlama data.
- The OCC's final GENIUS Act rule for stablecoin issuers takes effect on Jan. 18, 2027.
Polygon Labs extended its Open Money Stack to Solana on Oct. 29, the company said, linking a network with $15.6 billion in stablecoins, according to DefiLlama, to U.S. bank rails as total stablecoin supply stalls near $300 billion.
The move turns Polygon's licensed payments business into a service for rival networks. Polygon Labs now sells bank access, wallets and payouts to businesses on other chains, following TRON on Oct. 7, rather than asking them to switch.
Solana's stablecoin base shrinks faster than the market
Stablecoin supply on Solana fell 5.54% over 30 days to $15.6 billion on Oct. 26, according to DefiLlama data. The total market slipped 0.94% to $300.1 billion over the same period.
That leaves Solana with about 5.2% of global stablecoin supply, our calculation shows. USD Coin (USDC), issued by Circle, makes up 42.99% of the stablecoins on the network.
Regulation is moving in parallel. The Office of the Comptroller of the Currency (OCC) issued its final rule implementing the GENIUS Act on Oct. 21, setting reserve, redemption and risk standards for payment stablecoin issuers from Jan. 18, 2027.
By the numbers
| Metric | Value | As of | Source |
|---|---|---|---|
| Stablecoins on Solana | $15.601 billion | Oct. 26, 2026 | DefiLlama |
| Total stablecoin supply | $300.088 billion | Oct. 26, 2026 | DefiLlama |
| Solana share of supply | 5.2% | Oct. 26, 2026 | Our calculation |
| Stablecoin volume on Solana in 2026 | more than $5 trillion | Oct. 29, 2026 | Solana Foundation |
| Cumulative stablecoin transfers on Polygon Chain | more than $3 trillion | Oct. 29, 2026 | Polygon Labs |
| U.S. money-transmission coverage | 48 states | Oct. 14, 2026 | Polygon Labs via The Block |
Kira routes Solana transfers into U.S. bank accounts
Open Money Stack lets a business on Solana take bank, card, cash and cryptocurrency funding, hold customer wallets, move funds to Polygon, Ethereum, TRON and other EVM networks, and pay out to banks or wallets, Polygon Labs said.
Kira, which serves fintechs, over-the-counter (OTC) desks and import brokers, is among the first Open Money Stack customers on Solana. Its clients open U.S. dollar accounts and pay suppliers abroad, according to Polygon Labs.
"We already use Solana to move stablecoins," Edrizio De La Cruz, CEO and co-founder of Kira, said in the announcement. Polygon turns those transfers into dollars in clients' bank accounts when they pay suppliers, he said.
Polygon Labs completed its purchase of Coinme on Oct. 14, adding 37 state money-transmitter licenses and 11 exemptions, The Block reported. The unified integration was then still in technical preview for select customers.
Vibhu Norby, chief product officer at the Solana Foundation, said Solana has processed more than $5 trillion in stablecoin volume in 2026. That claim is about 1.7 times the $3 trillion lifetime total Polygon Labs reports for Polygon Chain.
How we got here
- Jan. 13, 2026: Polygon Labs agreed to buy Coinme and Sequence in deals worth more than $250 million combined.
- Oct. 7, 2026: Open Money Stack added TRON, Polygon Labs said.
- Oct. 14, 2026: Polygon Labs completed the Coinme acquisition.
- Oct. 21, 2026: The OCC issued its final GENIUS Act rule.
"We are providing a clear, practical framework for payment stablecoin innovation," Jonathan V. Gould, Comptroller of the Currency, said in the OCC's Oct. 21 statement.
For payment companies such as Polygon Labs and Kira, the rule sets the reserve and redemption standards behind dollar tokens issued under federal oversight.
Federal stablecoin rules arrive in January
The GENIUS Act and the OCC's rule take effect on Jan. 18, 2027. The OCC said it will announce separately when it starts accepting applications from prospective stablecoin issuers.
Anti-money-laundering and sanctions requirements for issuers will follow in a separate rulemaking with the Treasury Department, the OCC said.
Polygon Labs has not disclosed volumes, pricing or customer numbers for Open Money Stack on Solana.
Polygon Labs provided the Solana details and quotes. The $5 trillion and $3 trillion figures are company figures and have not been independently verified.
Source: polygon.technology