Polygon adds US dollar balances to its enterprise payments stack

Holding dollars before converting to stablecoins

@0xPolygon has added native US dollar account functionality to its Open Money Stack (OMS), giving enterprise customers a new way to manage cash before moving it on-chain. The Open Money Stack is payments infrastructure for financial institutions, enabling reliable money movement through a single, easy-to-use API. The latest addition lets businesses fund a dollar account via wire transfer, ACH, or SWIFT and hold that balance until a payment run is needed, converting to stablecoins only when required. A licensed banking partner holds the fiat balance throughout.

The practical benefit, according to @0xPolygon, is straightforward: by parking dollars in advance, businesses eliminate the extra wire transfer that would otherwise be needed at the moment of each stablecoin conversion. That matters when banks are closed, on weekends or public holidays, and a payment still needs to go out. Traditional rails run on banking hours. Users don't. PSPs and neobanks use OMS to credit accounts and settle merchants 24/7: evenings, weekends, holidays, with finality in seconds and no queued ACH batches.

Opening dollar payments to non-US businesses

The update also widens access for businesses outside the United States. Non-US companies can now pay US-based vendors directly in dollars through the stack, without needing a stablecoin leg in the transaction at all. That removes a conversion step and the associated friction for international businesses that regularly settle with American counterparties.

The Polygon Open Money Stack is an open, integrated, and programmable stack of services and technologies under a single easy-to-use API to instantly and reliably move money anywhere, and put it to work. The underlying Polygon chain is fast and low-cost, battle-tested with six years in production and over $2.6 trillion in stablecoin transfer volume. The OMS is designed to sit alongside existing banking and compliance workflows rather than replace them, slotting into existing infrastructure whether a business is running a neobank, a fintech, or a crypto-native platform.

The dollar account feature fits into a broader build-out of the OMS. A dollar account combines the Hold, Identify, and Ramp primitives within the stack's low-level API architecture, meaning businesses can use the feature standalone or chain it into a wider payment flow alongside other money-movement tools.

Sources:
Polygon Open Money Stack: Payments Infrastructure Overview
Polygon Open Money Stack Enters Technical Preview
Polygon OMS Developer Documentation