Polygon Labs to launch cross-border stablecoin payments framework 'Open Money Stack' by year-end
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Summary
- Polygon Labs said it plans to launch by year-end a modular framework, Open Money Stack, that supports cross-border stablecoin payments.
- It said Open Money Stack is compatible with various blockchains and is designed so financial institutions and fintech companies can select and combine functions.
- Polygon Labs said it expects the framework to reduce cross-border payment costs and processing times and to accelerate the buildout of global payments infrastructure.
According to crypto-focused media outlet CoinDesk on the 8th (local time), Polygon Labs plans to launch by year-end a modular framework dubbed 'Open Money Stack' that supports cross-border stablecoin payments.
A key feature of Open Money Stack is its compatibility with various blockchains, and it is designed so that financial institutions and fintech companies can select and combine functions as needed. This makes it possible to integrate core components—such as on-chain payments, fiat on/off-ramps, and compliance tools—within a single architecture.
Polygon Labs expects the framework to help cut costs and processing times in cross-border payment processes and to contribute to accelerating the buildout of global payments infrastructure using stablecoins.
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