Polygon
ClaimPolygon Chain is an EVM-compatible proof-of-stake sidechain for Ethereum.
Key numbers · TVL $791M · per DefiLlama · updated Sep 27
Overview
Polygon offers a product called the Open Money Stack, which lets businesses accept local currency deposits, convert them to stablecoins, and disburse funds in local currency to over 100 countries. It includes components for payins, payouts, virtual accounts, currency conversion, payment orchestration, and onchain settlement. The platform targets businesses that move money across borders and is intended to replace the multi-vendor arrangements typically required to assemble similar functionality.
Recent activity
Will be at Money20/20 USA
Now supports recurring stablecoin subscription payments with one customer approval in Open Money Stack
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Completed SOC 2 Type 1 examination for Open Money Stack
Revolut launched EURR, a Euro-backed stablecoin, on Polygon
Stable.com, Unlimit's financial platform, now supports Polygon for direct-to-bank stablecoin transfers
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Unlimit's payment network handles delivery across 180+ countries and 150+ currencies for Stable.com transfers
Polygon has processed $2.9 trillion in stablecoin transfer volume with ~$0.002 average transaction costs
Stable.com integration lets USDT or PYUSD move from a Polygon wallet directly into a bank transfer
Launched Open Money Stack, one API combining compliance, wallets, ramps and settlement.
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OMS supports x402 payment protocol and ERC-8004 for onchain agent identity.
OMS routes payments across Ethereum, Polygon, Base, and Solana chains.
Completed SOC 2 Type 1 examination for Open Money Stack (OMS) API and dashboard
Earlier
EURR rollout starts for eligible customers in Denmark, Poland, and Portugal.
bloXroute already offers private transaction submission on Polygon through its own infrastructure.
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Launched Private Mempool, a private transaction submission endpoint live on Polygon.
Consortium will test cross-border stablecoin settlement powered by Polygon's Open Money Stack
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Polygon Labs joins NOBO Finance and Dun & Bradstreet in Phase 2 of Bank of England's Digital Pound Lab
Wallet technology has been in production since 2021, acquired by Polygon through Sequence
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Supports moving money across 20+ blockchains via Polygon Trails
Settlement on Polygon Chain takes about two seconds and costs roughly $0.002
Custodial wallet services provided via Coinme, acquired by Polygon Labs.
Launched Open Money Stack, a single API for instant programmable stablecoin payments
Launches Polygon CDK Besu to launch Hyperledger Besu chains connected to other chains' liquidity
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Passed $3 trillion in stablecoin transfer volume
Monerium, Frax and Capa connect euro payments to onchain FX markets on Polygon
Polygon Chain now supports 11 million payments per second
Offers Agent CLI giving AI agents full onchain capabilities via one CLI install
Now supports bank, cash, and card payins that convert to stablecoins via one API
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Now accepts cash payments at CVS, Walgreens, or Walmart, landing as a balance in seconds
HIFI settles over $227M in stablecoin payments on Polygon Chain
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Uquid routes 1-click crypto checkout across 178M+ products using Polygon Trails
Ubyx uses Polygon as a settlement chain to clear tokenized money for banks and fintechs
Polygon network processes 8B total transactions with 159M unique wallet addresses.
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Polygon reports $2.4T transfer volume and $1.15B total value locked.
Polygon reports $0.002 average transaction cost and 110 transactions per second.
