Polygon taps TRON’s $94 billion stablecoin supply for seamless cross-border transfers

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.