Polygon provides blockchain scalability and infrastructure for developers and businesses building DeFi and dApps. It offers products like the Polygon PoS Chain for faster, cheaper transactions, bridging solutions to move assets and data between blockchains, and developer tools such as APIs and indexing services to build and manage apps. These tools let users run transactions on a sidechain or interoperable network while staying connected to main blockchain ecosystems, and they monetize via transaction fees and premium services. Polygon aims to give developers a single platform to build scalable, affordable blockchain apps with easy interoperability across multiple networks.
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201-500
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Late Stage VC
Total Funding
$451.5M
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George Town, Cayman Islands
Founded
2017
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Polygon fixes bugs that let cheap transactions Overload nodes for 11 seconds. * C. Monasterio * Published: October 16, 2026 * 1:26 am * Updated: October 16, 2026 * 1:26 am Table of Contents * Two Vulnerabilities Mitigated: Polygon fixed medium-severity flaws in the BlockSTM V2 parallel execution engine of its Bor client. * Computational Overload: Technical tests recorded delays of up to 11 seconds in the parallel engine compared to the milliseconds required by the serial path. * Phased Rollout: The private rollout began on October 5 on Amoy and October 8 on mainnet, with no reports of active malicious exploitation. The Polygon team fixes bugs across its mainnet execution architecture following the release of an update for the Bor client on October 15. The technical intervention resolved two medium-severity vulnerabilities that allowed valid, low-gas transactions to consume disproportionate computational resources across validator nodes. Key elements of the BlockSTM V2 engine flaw. The incident directly involved BlockSTM V2, the subsystem responsible for parallel execution within the Polygon Proof of Stake (PoS) network. In this client, incoming blocks are processed through two simultaneous channels: a serial path and a parallel path, adopting the result from whichever finishes first. Internal tests demonstrated that transactions containing repeated code hashing took tens of milliseconds via serial execution. However, the parallel path remained occupied for approximately 11 seconds computing redundant operations. The technical report disclosed by the team clarified that transaction cancellation checks only took place between transactions, forcing the node to complete costly speculative workloads even after the block's state had already been finalized by the serial path. According to the firm's analysis, the attack vector neither corrupted transfer outcomes nor compromised network consensus, but it posed a direct operational threat to node availability and state synchronization. The two identified bugs stemmed from inefficient local resource management. First, speculative execution retained an excessive volume of data in memory through a shared cache lacking containment boundaries. Second, the software repeatedly recomputed the hash of smart contract code instead of reusing previously cached values. Official documentation explains that gas fees charged to users account for standard operations, but do not always reflect internal processing overhead within client software implementations. Under this scenario, low-fee operations exerted a computational burden neither monetized nor anticipated by the virtual machine's parameters. To resolve this operational mismatch, Polygon rolled out Bor v2.10.3, which enforces a strict ceiling on the shared cache size. Additionally, the patch enables the reuse of cached hashing results whenever repeated reads occur on the same smart contract bytecode. Rollout of Bor v2.10.3 and operator recommendations. The distribution of technical fixes was handled gradually prior to public disclosure to safeguard network infrastructure. The official roadmap detailed that an unannounced preliminary release was distributed on the Amoy testnet on October 5. Subsequently, on October 8, Polygon delivered confidential builds to mainnet operators to ensure ecosystem stability. The public release of the post-mortem report and release notes took place on October 15, after the majority of validators and Remote Procedure Call (RPC) providers were already running the patched codebase. Technical documentation for Bor v2.10.3 confirms that the deployment requires no hard forks, database migrations, or node resynchronizations. Node operators can apply the update independently across their servers. Should nodes fall behind the tip of the chain, end-users could experience delays in transaction confirmations or stale data reads across wallets and decentralized applications. Polygon's audit logs confirm that zero active exploits were detected across the mainnet or the Amoy testnet environment prior to the patch rollout. The protocol's immediate milestone requires remaining independent node operators still running Bor v2.10.2 or earlier to upgrade to version v2.10.3 during their next scheduled maintenance window.
Polygon Labs secures payments coverage across 48 US states after Coinme deal. By anonymous - October 14, 2026 Polygon Labs has completed its acquisition of Coinme and brought four payment companies onto its Open Money Stack platform, combining regulated U.S. money transmission services with stablecoin payments, digital wallets and local currency settlement. According to a press release shared with crypto.news, the acquisition gives Polygon access to a U.S. payments business with 37 state money transmitter licenses and 11 applicable exemptions, providing coverage across 48 states. The business is registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business. Polygon named Tazapay, Mesh, Toku and Kira among the first customers adopting Open Money Stack for cross-border business payments, account funding, global payroll and access to U.S. dollar banking services. The platform combines fiat on-ramps and off-ramps, wallets, cross-chain payment routing and settlement infrastructure through a single integration. Businesses can receive funds from bank accounts or digital wallets, manage balances, transfer stablecoins and deliver payments in local currencies. Polygon said the infrastructure supports settlement across dozens of blockchains, with Polygon Chain serving as one of its payment networks. The chain has now processed more than $3 trillion in cumulative stablecoin transfer volume, according to the company. Coinme acquisition brings U.S. licenses into Polygon Open Money Stack. Coinme's integration gives Polygon's payments business an existing regulatory footprint in the United States without requiring enterprise customers to establish their own state-by-state money transmission operations for services covered by the platform. The acquisition follows several months of work to combine Coinme's regulated payment services with Polygon's blockchain infrastructure. CEO Marc Boiron said at the time that the restructuring was intended to support profitability by 2027. He expected the integration of Coinme employees to raise the company's overall headcount despite the job cuts. Polygon had announced plans in January to acquire Coinme and wallet infrastructure provider Sequence as part of deals valued at approximately $250 million. The two businesses were selected to provide different parts of Open Money Stack, with Coinme handling regulated money movement and Sequence supplying wallet and cross-chain payment technology. In April, Polygon Labs was reportedly seeking up to $100 million to support the development of its payments business following the acquisitions. Boiron said in the latest announcement that stablecoin payment providers still face difficulties connecting blockchain transfers to bank accounts and local payment systems. "Payment companies want to use stablecoins to improve how money moves, but they still need to connect those payments to bank accounts, meet regulatory requirements and deliver funds in a form their customers can use," he said. The CEO said completing the acquisition brought regulated U.S. money movement into Open Money Stack, allowing Polygon to support more stages of a transaction from the initial deposit to the recipient's payout. Tazapay and Mesh adopt Polygon's payment infrastructure. Tazapay is using Open Money Stack's wallet and fiat conversion infrastructure to support payments between stablecoins and local currencies. The company provides cross-border payment services to more than 1,000 enterprises and fintech businesses across over 30 countries. Its customers include marketplaces, businesses and financial technology companies that collect payments from international customers and pay suppliers in different markets. Through the Polygon integration, Tazapay can offer customers the ability to receive, hold and pay out funds using stablecoins alongside its existing local banking and SWIFT payment connections. Tazapay co-founder and CEO Rahul Shinghal said businesses primarily want to know how long an international payment will take and how much it will cost. He said Open Money Stack provides a more direct connection between stablecoins and local currencies, reducing the number of intermediaries involved in certain payment corridors. Mesh, meanwhile, is integrating Polygon's fiat on-ramp services into its existing crypto payments network. The company connects more than 300 wallets, exchanges and financial services, allowing users to fund transactions from accounts where they already hold digital assets. Its customers include fintech companies, payment platforms and crypto businesses seeking to support transfers between traditional currencies and cryptocurrencies. Polygon's on-ramp infrastructure provides another route for users to fund accounts through the Mesh network without requiring payment providers to maintain separate connections to each supported service. Mesh CEO and co-founder Bam Azizi identified access to funds as a continuing obstacle for stablecoin payments. "The bottleneck in stablecoin payments is access," Azizi said, explaining that connecting existing accounts and providing more funding options was central to Mesh's payment network. Toku and Kira bring stablecoin payroll and banking services. Toku is integrating Polygon's wallet and payout services into its global payroll infrastructure, which operates in more than 100 countries. The company provides payroll and employer-of-record services, handling employment contracts, tax withholding, employee benefits and local regulatory filings. For companies holding stablecoins in their treasuries, Toku's integration allows workers to receive earnings in digital wallets and convert them into local currencies through the same payroll process. Toku introduced stablecoin payroll services in January, and its work with Polygon adds wallet management and local payout capabilities to that offering. CEO Ken O'Friel said international employment rules remain a separate challenge from transferring stablecoins across borders. Toku handles employment requirements, withholding taxes and local filings while providing workers with a way to convert stablecoin earnings into their domestic currencies, according to O'Friel. Kira is adopting Open Money Stack to expand the stablecoin options available to businesses using its U.S. banking services. The company serves fintech businesses, over-the-counter trading desks and import brokers that need access to dollar accounts and international payment channels. Its platform allows customers to open USD accounts at multiple U.S. banks and transfer funds through ACH, Fedwire and FedNow. International supplier payments are supported through SWIFT, alongside conversions between U.S. dollars and stablecoins. Kira said accounts can be opened within 72 hours after receiving a customer's required documents. The announcement further stated that more than 90% of payments are approved during their first review, although it did not provide a measurement period for that figure. CEO and co-founder Edrizio De La Cruz said businesses still face banking and compliance requirements after completing stablecoin transfers. Kira's integration with Polygon is intended to connect stablecoin payments with dollar deposits into customers' U.S. bank accounts. Polygon expands stablecoin settlement across multiple networks. The customer announcements follow Polygon's recent additions to Open Money Stack, including support for stablecoins and transfers across several blockchain networks. On October 8, Polygon added TRON support to the platform, allowing businesses to accept funds through banks, cards, cash and cryptocurrencies before routing payments through supported blockchains. The integration supports USDT on TRON and uses Polygon Trails to move funds between TRON and supported Ethereum Virtual Machine networks. Businesses can convert supported assets into USDC and arrange fiat payouts without requiring customers to handle blockchain bridges directly. In July, PayPal USD became available natively on Polygon through Open Money Stack, giving businesses access to PYUSD alongside wallet services, compliance tools and fiat conversion infrastructure. Polygon reported more than $2.6 trillion in cumulative stablecoin settlement volume at the time, compared with the more than $3 trillion figure disclosed in its latest announcement. The company has continued developing other payment services around the network. In September, Polygon tested agent payment channels capable of processing more than 11 million verified payment updates per second across 25 hubs, with final settlement recorded on Polygon Chain. Open Money Stack's individual components are already operational, while the unified integration is available to selected customers in technical preview. Fintech companies, financial institutions and payment providers can request access through Polygon's team.
Polygon Open Money Stack adds TRON support for USDT payments and payouts. Oct 8, 2026 at 06:49 AM GMT+2 Polygon has added TRON support to its Open Money Stack (OMS), allowing businesses to process stablecoin payments across fiat accounts, digital wallets, and multiple blockchains through a single integration. * Polygon has integrated TRON into Open Money Stack, allowing businesses to manage USDT deposits, wallet services, cross chain transfers, and fiat payouts through one system. * Businesses can accept payments through banks, cards, cash, or cryptocurrencies and convert funds into TRC20 USDT before transferring or withdrawing them. * Polygon Trails enables businesses to route USDT between TRON and supported EVM networks, including conversions into USDC, without customers directly using blockchain bridges. * TRON currently holds more than $94 billion in circulating USDT, accounting for over half of Tether's supply across supported blockchain networks. According to Polygon's announcement, the integration supports the complete payment process for businesses operating on TRON, from accepting customer deposits and converting fiat into USDT to transferring funds across networks and paying recipients through banks, cards, or cash pickup services. The service supports TRC-20 USDT, allowing companies to retain TRON as their primary payment network while accessing Polygon's wallet infrastructure, cross-chain routing, and fiat conversion services. Businesses can accept payments through bank transfers, cards, cash, or cryptocurrencies. Funds can then be held in custodial or embedded wallets, transferred to supported blockchains, or converted into fiat for withdrawals. Polygon said the integration targets fintech companies, remittance providers, exchanges, and gig economy platforms whose customers already use TRON for USDT transactions. Polygon Open Money Stack connects TRON to fiat payment services. Under the new integration, businesses can assign customers permanent TRON deposit addresses that remain valid for multiple transactions. When USDT arrives at an assigned address, OMS identifies the customer, records the deposit, and makes the balance available for subsequent payments or transfers. Companies can use the same address for recurring deposits without generating a new wallet address for each transaction or developing a separate system to match incoming payments with customer accounts. Wallet management is available through two custody models. For custodial wallets, licensed custodians manage private keys while applicable identity verification, screening, and transaction monitoring procedures are incorporated into the payment process. Embedded wallets give users control over their private keys and support familiar authentication methods, removing the need for browser extensions or seed phrase prompts during onboarding. Businesses can select individual services or use the entire payment system through one integration. Existing wallet providers, compliance services, and accounting systems can remain in place where companies prefer to retain them. Polygon's payment infrastructure has undergone several changes this year. In July, PayPal's PYUSD stablecoin became natively available on Polygon through OMS, giving businesses access to payment, compliance, and fiat conversion services. The integration supported businesses seeking to use PYUSD for cross-border payments and settlement, following PayPal's expansion of its stablecoin services earlier in 2026. Polygon Trails handles USDT transfers between TRON and other chains. Cross-chain payments are handled through Polygon Trails, which routes USDT and other supported digital assets between TRON and Ethereum Virtual Machine compatible networks. The service allows a business to receive USDT on TRON and deliver USDC to a recipient using Ethereum or another supported chain. Polygon said the routing and conversion can be completed within a single transaction, without requiring customers to interact directly with a blockchain bridge. For example, a remittance company could receive USDT from a customer using TRON, route the payment through the supported infrastructure, and deliver the funds to a recipient in another cryptocurrency or through a local fiat payout service. Payment instructions can be programmed to determine when funds move and where they are delivered. Customers receiving money through the service can convert USDT into fiat and withdraw it to bank accounts, cards, or supported cash pickup locations. The announcement identifies the Philippines, Mexico, Argentina, and Nigeria as markets where remittance businesses and fintech platforms could use the integration. Gig economy platforms are another intended customer group. Workers who receive USDT from exchanges can use recurring deposit addresses, while businesses manage the payment and withdrawal process through OMS. TRON holds more than $94 billion in circulating USDT. Polygon cited TRON's existing stablecoin activity as a key reason for bringing the network into OMS. According to the company's announcement, TRON currently holds more than $94 billion in circulating USDT, representing over half of Tether's supply across supported blockchains. The network has maintained a large share of stablecoin transfers, particularly among customers using USDT for remittances, exchange withdrawals, and international payments. In August, TRON's second quarter figures showed that the blockchain processed $2.1 trillion in USDT transfers during the second quarter of 2026, according to Messari. USDT supply stood at $87.9 billion at the end of June, accounting for 98.5% of all stablecoins circulating on TRON. Average daily USDT transfer volume reached $22.8 billion, up 4.3% from the previous quarter. Meanwhile, Polygon has been developing its payment infrastructure through acquisitions and integrations. In January, the company announced deals worth approximately $250 million to acquire Coinme and wallet infrastructure provider Sequence, bringing regulated fiat services and cross-chain wallet technology into its payments business. Polygon Labs subsequently restructured its workforce in July as it worked to integrate Coinme. CEO Marc Boiron said the company was working toward profitability by 2027, with its business increasingly focused on blockchain payment services. The Open Money Stack has since been used for transactions involving both digital assets and traditional banking services. In September, Polygon co-founder Sandeep Nailwal launched a crypto donation service supporting Nepal's disaster relief efforts. The initiative used OMS for cryptocurrency routing and conversion, with Coinme and Cross River Bank supporting the payment process. Blockchain for Impact pledged $100,000, while the service allowed donors to contribute USDC before funds were converted into Nepalese rupees. Polygon plans support for more blockchain networks. Following the TRON integration, Polygon said it intends to bring OMS to more blockchains where businesses and customers already transact. The company has not provided a timetable or identified the next networks scheduled for integration. OMS will continue to operate as a modular service, allowing businesses to retain their existing wallets, compliance providers, or internal ledgers while selecting the payment functions they need. Companies interested in TRON support can contact Polygon's Open Money Stack team to arrange access to deposit addresses, wallet services, cross-chain routing, and fiat payouts.
Polygon Open Money Stack adds TRON support for stablecoin payments. On October 7 2026, Polygon Labs announced its Open Money Stack now supports the TRON network. The integration connects TRON's USDT ecosystem, which holds over $94 billion in circulating USDT and has recorded over $30 trillion in total transfer volume, to US fiat systems and other EVM chains via a single interface. The stack uses money-transmitter licenses available in 48 US states, and this is the first phase of planned TRON support. Key points. * Polygon Open Money Stack added TRON network support on October 7 2026. * TRON's USDT ecosystem holds over $94 billion in circulating supply and over $30 trillion in total transfer volume. * The integration connects TRON's USDT ecosystem to US fiat systems and other EVM chains via a single interface. Why it matters. The integration lets businesses move funds between TRON's large USDT ecosystem, other blockchains and US bank accounts through one tool, reducing the need to assemble separate licensing, wallet and routing infrastructure. Price context · TRX. At publication Change since 7 days · dashed line = publication
Polygon Open Money Stack expands to TRON network with $94B USDT support. 2026-10-07 10:10:30 Key takeaways. * Polygon Labs announced October 7 that Polygon Open Money Stack now supports TRON network for USDT payments. * TRON supports more than $94 billion in circulating USDT with over 407 million user accounts. * Polygon Open Money Stack extends regulated dollar access, programmable accounts, and cross-chain movement to TRON. Polygon Labs announced on October 7 that Polygon Open Money Stack now supports the TRON network, enabling fintechs, remittance providers and payment platforms to connect bank funds directly to the world's largest network for USDT (TRC-20). The expansion addresses a longstanding challenge where businesses serving TRON's stablecoin economy had to independently assemble licensing, sponsor banks, wallet providers, and cross-chain routing infrastructure before moving funds between banking rails and blockchain networks. TRON supports more than $94 billion in circulating USDT and over $30 trillion in total transfer volume, establishing itself as one of the world's most heavily used networks for moving digital dollars, particularly in markets where USDT is used for retail payments, savings, and cross-border transfers. Polygon Open Money Stack connects to TRON's $94 billion USDT economy. The expansion connects Polygon Open Money Stack to TRON's stablecoin economy. Dollars can enter through regulated on ramps via bank transfer, debit card, or cash at a retail counter, move into virtual accounts that hold real balances, and settle onchain under rules defined by the business. The same integration can then route funds across supported blockchains and facilitate payouts through supported payment rails. With support for TRON, Polygon Open Money Stack enables businesses operating across TRON and EVM networks to serve customers across both ecosystems through a shared infrastructure layer. Polygon Labs processed $3 trillion in payments volume as of September 21. Polygon has processed more than $3 trillion in payments volume as of September 21. By adding support for TRON, Polygon Open Money Stack connects major onchain payments ecosystems and gives businesses additional infrastructure for moving funds between blockchain networks and traditional financial rails. "Polygon Open Money Stack was built so a payment company can plug in once and move money wherever it needs to go. Adding TRON brings one of the deepest pools of USDT liquidity into that same integration, so businesses can move those dollars onto U.S. banking rails or across chains with the licensing and orchestration already handled underneath," said Marc Boiron, CEO of Polygon Labs. "Stablecoins are becoming infrastructure for real-world financial activity, from payments and remittances to treasury management," said Justin Sun, Founder of TRON. "By connecting TRON's global ecosystem with Polygon Open Money Stack, we're making it easier for businesses to build payment products that bridge onchain liquidity with traditional financial rails." Integration provides regulated dollar access, programmable accounts, cross-chain movement. The expansion extends three parts of Polygon Open Money Stack to TRON: Regulated dollar access: Polygon Ramps connects TRON-based products to fiat on- and off-ramps supported by money-transmitter licenses and compliance infrastructure across 48 U.S. states. Programmable accounts: Businesses can create and manage TRON wallets through the same Open Money Stack integration used across supported networks, removing the need to integrate a separate wallet provider or maintain different user experiences for each network. Cross-chain movement: Businesses can route USDT between TRON and supported EVM networks, such as Polygon Chain, through a single transaction flow, with the bridging, conversion and execution handled underneath. Remittance providers can fund USDT payments through single integration. For a remittance provider, a customer can fund a payment in dollars and deliver USDT to a recipient's TRON wallet without the provider integrating separate ramp, wallet and routing vendors. The same infrastructure can support the reverse flow, allowing users to move USDT from TRON and cash out through a bank account. The integration can also support other payment workflows. A marketplace can accept USDT on TRON, hold funds in a programmable account, and settle with a seller through an EVM network or bank account. Payment applications can serve customers across both ecosystems without requiring users to move onto a preferred blockchain or businesses to build separate compliance and payment infrastructure for each network. Polygon Labs began assembling Open Money Stack through its pending acquisition of Coinme and acquisition of Sequence, combining licensed U.S. fiat access with enterprise wallet infrastructure and cross-chain orchestration. The stack is designed to connect the networks, stablecoins, and banking rails customers already use rather than requiring businesses to select a single blockchain for every payment. TRON blockchain recorded over 407 million user accounts as of October. Founded in September 2017, the TRON blockchain has experienced significant growth since its MainNet launch in May 2018. TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, which currently exceeds $94 billion. As of October, the TRON blockchain has recorded over 407 million in total user accounts, more than 15 billion in total transactions, and over $28 billion in total value locked (TVL), based on TRONSCAN. Faq. What did Polygon Labs announce on October 7? Polygon Labs announced that Polygon Open Money Stack now supports the TRON network, giving fintechs, remittance providers and payment platforms a way to connect bank funds directly into the world's largest network for USDT (TRC-20). How much USDT does TRON support? TRON supports more than $94 billion in circulating USDT and over $30 trillion in total transfer volume. TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin. How much payments volume has Polygon processed? Polygon has processed more than $3 trillion in payments volume as of September 21. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
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Industries
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$451.5M
Headquarters
George Town, Cayman Islands
Founded
2017
Find jobs on Simplify and start your career today