POL Gains Momentum as Polygon Unveils Open Money Stack and Eyes Coinme Acquisition

• Polygon Labs has introduced the Open Money Stack, a modular framework designed to streamline cross-border stablecoin payments by integrating liquidity, compliance, and on-chain settlement features.

• The Open Money Stack is positioned to reduce reliance on traditional financial intermediaries and enable financial institutions and fintech companies to build solutions that support seamless stablecoin-based payments.

• Polygon is also exploring the acquisition of Coinme, a U.S. Bitcoin ATM provider with over 50,000 locations, which could further expand the network's real-world accessibility and adoption.

What is the Open Money Stack and how does it work?

The Open Money Stack aims to unify key components of the payment stack into a single framework, including on-chain settlement, fiat on-ramps and off-ramps, compliance tools, and stablecoin interoperability.

This modular system is designed to allow users to manage their money entirely on-chain, without needing to move funds off-chain for settlement or use.

The framework also enables users to earn yield on idle funds via DeFi protocols, adding utility for stablecoin holders.