QuantCapPolygon said businesses can also move the world’s largest stablecoin USDT between TRON and EVM networks without connecting to a wallet provider, bridge or fiat-ramp operator.
Polygon taps TRON’s $94 billion stablecoin supply for seamless cross-border transfers
Polygon said businesses can also move the world’s largest stablecoin USDT between TRON and EVM networks without connecting to a wallet provider, bridge or fiat-ramp operator.
Polygon Labs added TRON support to Open Money Stack, allowing businesses to offer stablecoin payments and cross-border transfers through a single integration. Remittance firms, fintech companies and payment providers can use the service to convert bank transfers, debit card payments or cash into USDT on TRON and cash out to bank accounts. The integration also lets businesses move USDT between TRON and supported EVM networks, but it does not eliminate their licensing and regulatory obligations.
Polygon Labs’ Open Money Stack extended its stablecoin payments and cross-border transfer capabilities by adding support for the TRON network.
Open Money Stack is targeting businesses that might want to use TRON for digital-dollar services without the requirement to combine banking access, wallets and other orchestration first, Polygon co-founder Sandeep Nailwal told CoinDesk.
“By connecting TRON to Open Money Stack, we’re giving businesses a way to offer that service through one integration,” he added.
The new service is built for remittance firms, fintechs and payment companies. A customer could fund a payment with a bank transfer, debit card or cash, receive USDT in a TRON wallet and later cash out to a bank account.
This does not make TRON a bank, nor does it remove the licensing obligations of payment firms. It gives them a single connection for pieces of a payment flow that have often been handled through separate providers.
Polygon said businesses can also move the world’s largest stablecoin USDT between TRON and supported EVM networks without separately connecting to a wallet provider, bridge and fiat-ramp operator.
TRON is one of the main networks people use to move USDT, with more than $94 billion of Tether’s dollar-backed token circulating on the network. About 93% of its $30 trillion stablecoin transfer volume was peer-to-peer in the second quarter, the highest share of any network tracked by CoinDesk.
“Customers expect their assets to arrive where they want them regardless of the blockchain they use to transfer funds,” Sun said. “Connecting TRON to Polygon’s infrastructure will help businesses serve users across different payment environments.”
Polygon unveiled Open Money Stack in January after moving to acquire Coinme and Sequence. The company said its fiat-ramp service uses money-transmitter licenses and compliance systems covering 48 U.S. states.
1Gate bets all-in-one money app is crypto’s biggest consumer trend this year and next1 hour ago 2Crypto Long & Short: Zcash and the case for privacy in the age of AI2 hours ago 3Tether tapped by Kazakhstan’s central bank to explore stablecoin and tokenization 2 hours ago 4Quantum computers threaten exposed private keys rather than blockchains, Europol warns3 hours ago 5Ether is about to lose a steady buyer as Tom Lee says Bitmine will stop token purchases4 hours ago 6Crypto trading giant GSR's new vault business is a $100M bet on onchain credit4 hours ago 7Swift blockchain ledger requires key internal layers, Taurus co-founder warns5 hours ago 8Here’s what bitcoin needs to break above $87,0005 hours ago 9Live updates: Bitcoin edges up from worst levels as yields pull back6 hours ago 10Bitcoin’s recovery stalls just short of rescuing its last underwater cohort6 hours ago
The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Gate bets all-in-one money app is crypto’s biggest consumer trend this year and next
Tether tapped by Kazakhstan’s central bank to explore stablecoin and tokenization
Crypto trading giant GSR's new vault business is a $100M bet on onchain credit