More Than $5.5 Trillion in Stablecoin Volume on Solana in 2026 as Polygon Expands
Key Facts
Polygon announced on October 29, 2026, that Open Money Stack now supports Solana, expanding a payments flow that lets businesses move from a bank deposit to a stablecoin balance and then pay into a bank account. Polygon says the network processed more than $5.5 trillion in stablecoin volume during 2026 through the date of the announcement. The announcement focuses on connecting banking infrastructure with stablecoin use on Solana, rather than presenting the integration simply as a bridge for moving assets between networks. Polygon Foundation President Sandeep Nailwal said adding Solana allows more companies to build on the network their customers choose. The statement did not disclose the volume of business payments processed through the new integration.
The stack covers the movement of funds from entry to exit. According to Polygon, businesses can accept deposits via bank transfer, card, cash or cryptocurrency, then convert fiat currency into crypto assets on Solana or make the reverse conversion. Funds can then be paid out to a bank account, card, cash or wallet. This flow allows a stablecoin balance to serve as a link between traditional deposit channels and onchain settlement, before funds return to the payment channels available to the recipient. Polygon says the fiat on- and off-ramp infrastructure is backed by money transmission licenses covering 48 U.S. states.
Custody options include custodial wallets and embedded wallets on Solana. Polygon said embedded wallets on the network now work through the same API used for wallets on EVM networks, allowing businesses to include a Solana option in the same product experience they use for those wallets. Routing also supports USDC, USDT, PYUSD, SOL and Wrapped SOL. Routing is not limited to assets on one network; assets can move between Solana, TRON and EVM networks in a single transaction. Polygon’s announcement gives the example of the system accepting USDC from an Ethereum wallet and settling payment in SOL to a user on Solana.
Kira provides an early example of the expansion’s announced commercial use. The Block reported that the company is among the first customers using Solana support to connect stablecoin transfers with dollar accounts and supplier payments. Kira helps its customers move between dollars and stablecoins, send payments through banking channels and settle amounts owed to suppliers overseas. Its chief executive said working with Polygon helps the company convert those transfers into dollars in its customers’ bank accounts. The use points to the integration’s role in settlement and cross-border commercial payments, while the announcement provided no figures for Kira’s transaction volume through the service.
Solana’s addition follows the expansion of Open Money Stack to TRON on October 8, 2026. Polygon said at the time that businesses using TRON could receive, convert and route funds across chains, then pay recipients; the latest addition continues to expand the networks that can use the payment infrastructure. On Solana, stablecoin supply hit a record $17.51 billion in September 2026, according to a Solana Media report. Open USD, or OUSD, also launched on the network on September 30, with issuance and redemption against the dollar at a 1:1 ratio and no issuance or redemption fees, the report said. These developments provide context for the expanding use of stablecoins on the network and companies’ efforts to connect them to banking payment channels.
The infrastructure expansion was preceded by the activation of the Alpenglow upgrade on Solana’s mainnet on October 21, 2026. The upgrade aims to reduce transaction finality time from about 12.8 seconds under TowerBFT to about 150 milliseconds. On activity, Polygon said Solana records more than $2 trillion in stablecoin volume each quarter, while The Block quoted the Solana Foundation’s chief product officer as saying the network had processed more than $5.5 trillion during 2026 through the date of his statement. The figures represent different measures: a quarterly pace as described by Polygon and a year-to-date total as reported in the foundation official’s statement. Polygon said it would continue expanding Open Money Stack to more blockchains, without specifying a date or the next network.