Polygon Labs has announced a modular framework called Open Money Stack aimed at stablecoin-based payments, CoinDesk reported on Jan. 8.
Open Money Stack focuses on simplifying payments across blockchains and cross-border value transfers. It is due to launch by the end of this year. Financial institutions and fintech firms can use it to integrate on-chain payments, fiat access and compliance tools, CoinDesk said.
Open Money Stack combines liquidity, coordination and regulatory controls to help companies cut operational complexity. It supports users in making cross-border payments without token swaps or bridges.
It supports interoperability rather than a closed network. Companies can use only the parts they need while still connecting with other networks, Polygon Labs said.
Polygon founder and Polygon Foundation Chief Executive Sandeep Nailwal and Polygon Labs CEO Marc Boiron said, "Our goal is to move all money on-chain and make it easily accessible to anyone."
Chi-gyu Hwang
delight@d-today.co.kr