Polygon opens US bank payouts to Solana stablecoin businesses

Now, with one integration, Solana businesses can take a bank deposit, hold it in stablecoins and pay it out to a US bank account. With licenses in 48 US states behind the dollar leg, Polygon Labs on Thursday added Solana to its Open Money Stack. USDC, USDT and PYUSD route across TRON and EVM chains The stack converts fiat into stablecoins on Solana, retains funds in embedded or custodial wallets, and pays out to bank accounts, cards, cash or wallets. Every client is given a virtual account so that incoming bank transfers have an address to go to. In a blog post released by Polygon, the stack is said to move USDC, USDT, PYUSD, SOL and wrapped SOL across Solana, TRON and EVM chains in one transaction.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cryptopolitan.