Polygon Labs will support the Tron (TRON) network on its payments infrastructure, Polygon Open Money Stack, The Block reported on Tuesday.
The move will allow fintech firms and remittance and payments providers to link funds held in U.S. bank accounts to Tron-based USDT.
Tron is the network where the world’s largest dollar stablecoin, USDT, circulates the most. More than $94 billion of USDT is in circulation on Tron, and cumulative transfers exceed $30 trillion.
Companies targeting the Tron ecosystem have had to secure their own licensing, sponsor banks, wallet providers and cross-chain routing infrastructure. By using Open Money Stack, companies can handle these tasks in one place.
Open Money Stack is adding 3 functions. Polygon Ramps will connect dollar deposits and withdrawals to Tron-based services using money transmitter licences in 48 U.S. states. Companies can also create and manage Tron wallets without a separate wallet provider.
A remittance firm, for example, can let a customer pay in dollars and send USDT to a recipient’s Tron wallet. It can also allow withdrawals of Tron USDT to a bank account.
Polygon Labs CEO Marc Boiron (마크 보이런) said, “By adding Tron, we brought one of the biggest USDT liquidity pools into the same integration,” adding, “Companies can move these dollars to the U.S. banking network or other chains without worrying about licensing and processing.”
Tron founder Justin Sun (저스틴 선) said, “Stablecoins are becoming the infrastructure supporting real financial activity, including payments, remittances and treasury management.”