Quick take:
- The Open Maoney Stack allows users to “instantly and reliably move money anywhere, and put it to work.”
- The system enables merchants to send and receive money in their preferred currency, with instant conversion taking place in the background.
- The Stack is designed to work with different blockchains and can be customized for various applications.
Polygon Labs has unveiled the Open Money Stack, an integrated modular framework for stablecoin payments and global money transfers. The Stack is expected to launch later this year, according to an announcement on Thursday.
Polygon, which started out as a scalable layer-2 blockchain on Ethereum, has expanded its service offerings over the years, launching AggLayer, the cross-chain settlement layer that connects the liquidity and users of any blockchain for fast, low-cost interoperability.
“Open and interoperable money ensures that it is usable everywhere, by everyone, on their own terms,” Nailwal and Polygon Labs CEO Marc Boiron wrote in an announcement on the X platform. “And when used on someone’s own terms, money fades into the background so people are free to focus on living and building, improving their lives.”
The Open Money Stack allows users to “instantly and reliably move money anywhere, and put it to work.” The system enables merchants to send and receive money in their preferred currency, with instant conversion taking place in the background.
The Stack is designed to work with different blockchains and can be customized for various applications.
The Polygon team believes that the Open Money Stack will move all money in the future for consumers, businesses, and AI agents alike. “Today, on-chain money generally needs to return off-chain to be used. With Open Money Stack, however, money that comes on-chain can stay — and be used — on-chain forever,” the team wrote.
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
