Polygon Labs has added Solana to its Open Money Stack payments platform that links bank accounts with virtual asset transfers and payouts, The Block reported on Oct. 29 local time.
Companies can integrate with Open Money Stack to move funds held in bank accounts across multiple blockchains and send transfers to others, the report said.
Open Money Stack also connects with Polygon, Ethereum and Tron, which was added earlier this month.
The integration comes a week after Solana applied its AlpenGlow consensus algorithm upgrade. AlpenGlow cut transaction finality time to about 150 milliseconds from about 12.8 seconds.
Vibhu Norby (비부 노르비), chief product officer at the Solana Foundation, said Solana processed more than $550 trillion in stablecoin transactions this year. "If we connect Solana with bank accounts, wallets and global payment networks, companies can offer stablecoin payments to more customers and markets," he said.
Polygon completed its acquisition of Coinme earlier this month. It secured money transmission business licenses and exemption qualifications in 48 U.S. states.
Chi-gyu Hwang
delight@d-today.co.kr