Polygon launched the Open Money Stack (OMS), a unified API designed to move funds globally with stablecoins, and announced that the system is entering a technical preview phase, offering limited early access to selected partners.
The solution integrates in a single point cash ramps, corporate banking ramps, custodial wallets, stablecoin transfers, routing to external wallets, API key generation, webhooks, role-based access control and sandbox environments. Users can deposit cash in 48 U.S. states and receive USDC or USDT directly in their custodial wallet, while corporate clients have access to virtual bank accounts with ACH, Fedwire and RTP support.
The core flow converts deposits into stablecoins on the Polygon network, executes transfers in seconds at fractions of a cent and enables fund withdrawal via banking ramps or external wallets. As an illustrative example, Polygon describes a payroll payment case in which 200 payments to contractors are settled in seconds for less than a cent per transaction, compared to the one to three business days required by traditional rails.
Among the functionalities under development are embedded wallets, swaps, cross-chain bridges, banking ramps for individual users and a regulatory compliance dashboard.
Source: https://polygon.technology/blog/polygon-open-money-stack-enters-technical-preview
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