Polygon (POL) news

Blockchain investigator ZachXBT flagged a suspected security breach on Polymarket, the largest decentralized prediction market platform, with over $520,000 drained from two smart contracts on Polygon. Polymarket developers confirmed the issue, stating it was a private key compromise of an internal operations wallet, not a smart contract exploit. They emphasized user funds and market resolutions remain safe. Polygon Labs' CTO Mudit Gupta echoed that Polymarket contracts and user funds are safe, noting the market initializer was compromised. Polymarket has not issued an official statement yet.

Onchain investigator ZachXBT flagged a suspected exploit of Polymarket's UMA CTF Adapter contract on Polygon, with about $520,000 drained from two addresses. Polymarket has not confirmed the incident. The contract connects UMA's Optimistic Oracle with the Gnosis Conditional Tokens framework. ZachXBT identified the exploiter address and two drained addresses. This follows previous infrastructure issues, including a March 2025 governance attack and a December 2025 vulnerability in a third-party provider.

Deploi has launched a direct issuance infrastructure for private credit on Polygon, with ISIN allocations from Nasdaq CSD for its inaugural UK Consumer Credit Notes. The first issuance, Series 2026/CON/001, allows for regulated digital debt issuance of up to EUR 5 million per note, part of a EUR 1 billion note programme planned for 2026 with potential expansion to EUR 5 billion. The infrastructure replaces traditional manual fund structures with programmable issuance, settlement, and servicing on EVM-compatible chains, initially using Polygon. Notes are issued and settled via Assetera, an EU-regulated DLT platform under MiFID II, enabling compliant access for European investors. Approximately EUR 100 million in additional issuance is lined up over the next six months. Deploi targets yields of 6–18% and aims to modernize private credit markets by offering faster execution, transparency, and scalability. Partners include Assetera and Polygon Labs, with expansion to Canton Network planned.

Panther Protocol has launched its privacy infrastructure on Polygon, introducing programmable privacy for DeFi. The deployment combines zero-knowledge cryptography, non-custodial architecture, and DAO governance to enable confidential on-chain interactions with verifiable compliance. A compliance-enabled zone uses credentials from independent providers, allowing users to prove eligibility via zero-knowledge attestations without exposing personal data. The protocol integrates with existing DeFi liquidity sources and introduces Panther Reward Points (PRPs) for participation. Future plans include multi-chain expansion, additional integrations, and a potential community deployment on Base via a DAO grant. The Panther Protocol Foundation supports the ecosystem through research and grants but does not operate the protocol directly.

Polygon reduced its average block time from 2 seconds to 1.75 seconds, the first such reduction since genesis. The upgrade increases maximum theoretical throughput by 14% to about 3,260 TPS, helping clear transaction backlogs faster and reduce fee spikes, which is critical for high-frequency use cases like payments and DeFi. The improvement is part of Polygon Improvement Proposal PIP-86, which aims to further reduce block time to 1.5 seconds. It comes as Polygon targets institutional adoption with a new wallet feature enabling private stablecoin transactions via zero-knowledge proofs. Despite the upgrades, Polygon's POL token remained stagnant, trading at $0.09, down 54% over the past year.

Polygon has launched private stablecoin payments using zero-knowledge proofs, aiming to attract institutions by offering transaction confidentiality while maintaining compliance. The feature integrates with privacy protocol Hinkal, enabling shielded transactions and auditability. The move addresses the privacy gap in onchain payments, as many institutions require confidentiality to move significant stablecoin volume. Polygon emphasizes operational privacy, not regulatory evasion, and includes Know Your Transaction screening. This follows a similar privacy initiative by Aptos in April. Polygon's stablecoin market cap reached an all-time high of $3.6 billion on April 10, driven partly by the GENIUS Act and growing institutional interest.

Visa has added the Polygon network to its stablecoin settlement program, enabling fintech issuers to settle card payments outside traditional banking hours. The move addresses the timing gap between instant card authorization and delayed fiat settlement, which imposes working capital costs on issuers through prefunding or collateral requirements. With Polygon, issuers can settle transactions in stablecoins during weekends and holidays, reducing idle capital and prefunding pressure. Polygon's Open Money Stack offers a full workflow including on-chain settlement, custody via Polygon Wallets, and fiat conversion through Coinme. The integration is supported by Polygon's high transaction throughput, low fees, and existing partnerships with Stripe, Revolut, Mastercard, and others.

Meta has partnered with Stripe to roll out USDC stablecoin payouts for content creators on the Solana and Polygon blockchains. The feature is currently limited to creators in Colombia and the Philippines, allowing them to receive earnings directly to wallets like MetaMask, Phantom, and Binance. Meta stated it is not issuing its own stablecoin but using Circle’s USDC, which has a market cap of over $77 billion. This marks Meta’s return to crypto payments after abandoning its Diem project in 2022 amid regulatory challenges. The move is seen as a test in emerging markets where crypto adoption outpaces traditional banking.

Meta is now offering some creators the option to receive payouts in USDC, the stablecoin, through crypto wallets on Solana or Polygon. The company will use Stripe as its payments provider for these transactions. Meta warns creators that they are responsible for wallet security and that funds sent to unsupported addresses or networks cannot be recovered. The social media giant previously attempted to launch its own digital asset payment division, Libra (later Diem), which was shut down due to regulatory scrutiny. This move marks Meta's return to the stablecoin space, after earlier reports indicated it was aiming to enter this area with third-party firms. Creators can later convert USDC into their local currency.

Visa has expanded its stablecoin settlement pilot to include Polygon, Base, and three other blockchain networks, joining existing support for Ethereum, Solana, Stellar, and Avalanche. The program, launched in 2023, now has an annualized settlement run rate of roughly $7 billion, growing 50% quarter over quarter, though still small compared to Visa's core business. The initiative aims to evaluate stablecoins for faster settlement, 24/7 availability, and cross-border payment efficiencies. Visa has also deepened its partnership with Bridge and launched a validator node on Tempo. Competitors like Mastercard are similarly advancing stablecoin-linked card spending, while payment software firm Modern Treasury integrated with Polygon to speed up business payments. The stablecoin ecosystem has benefited from clearer US regulations like the GENIUS Act, though policy debates continue. Total stablecoins in circulation have surpassed $320 billion, up nearly 150% since early 2024, as crypto-native and fintech firms race to build settlement infrastructure.