Polygon news

Polygon developers have proposed a hard fork of the Polygon Proof-of-Stake mainnet to recover approximately 70.49 million POL (worth about $7 million) stolen in security incidents at Binance and Polymarket. The proposal, introduced by Polygon Labs validator support team member Parvez03, would zero out five attacker-controlled addresses and credit matching amounts to verified recovery accounts. The total supply of POL would remain unchanged. The stolen funds stem from incidents on October 29 and 30, with about 23.86 million POL linked to the Polymarket breach and 46.63 million POL to the Binance incident. The tokens are currently frozen via a transaction denylist, though attackers have reportedly attempted to move them through high-fee transactions and alleged validator bribery. Developers stress the measure is exceptional and not meant to set a precedent. The recovery covers only native POL on Polygon PoS; other tokens like USDT are excluded. Both Binance and Polymarket have already reimbursed most users, making the fork more about recovering remaining on-chain assets. Community discussion is set for November 5, with potential mainnet implementation after testnet validation within about two weeks. The supply-neutral design avoids diluting existing holders.

Binance and Polymarket have proposed a Polygon network hard fork to recover approximately 70.49 million POL tokens, worth about $6.8 million, stolen in separate security incidents. A governance proposal on Wednesday outlines that the fork would remove the stolen tokens from five attacker-controlled addresses and transfer them to verified recovery wallets, without changing POL's total supply. The addresses hold 23.86 million POL linked to the Polymarket hack and 46.63 million POL linked to the Binance hack. Polygon block producers have already blocked transactions from the affected addresses as a temporary measure, but the proposal states these restrictions cannot return the funds. The plan requires governance approval and testing on the Amoy testnet, with discussion scheduled for Nov. 5 and no confirmed mainnet date. This follows Binance's record $6.3 billion hack on Oct. 29 and a separate incident where Polymarket suspended trading after a third-party provider was compromised.

Polygon is considering a hard fork proposal to recover approximately 70.49 million POL, worth $6.5 million, stolen in separate security incidents involving Binance and Polymarket. The proposal, submitted by a Polygon Labs validator-support team member, would transfer the blocked funds from five identified addresses to verified recovery wallets without increasing the cryptocurrency's total supply. The funds include 23.86 million POL linked to Polymarket and 46.63 million POL associated with Binance. The proposed hard fork will be discussed at the Polygon Protocol Governance Call on November 5. If approved, development and testing could take about two weeks. The proposal notes that existing block lists prevent transfers but do not return funds, and describes the intervention as an 'extreme action.' It also warns of a potential chain-split risk if nodes fail to upgrade before the activation block.

Polygon has expanded its US banking and stablecoin payment infrastructure to Solana, allowing eligible foreign businesses to access US banking rails without incorporating in the US. The Oct. 29 launch of its Open Money Stack enables qualifying companies to accept deposits, convert funds to stablecoins, and process payouts through bank transfers, cards, cash, or crypto, while holding assets in embedded or custodial Solana wallets. The service targets fintechs, remittance providers, and payment apps seeking cross-border dollar services. The integration aims to tap into Solana's $15 billion stablecoin market, the third-largest network behind Ethereum and TRON, compared to Polygon's $3 billion. Solana processed over $5 trillion in stablecoin transfers in 2026. Polygon's earlier Trails routing already connected Solana to 20+ Ethereum-compatible networks; this expansion adds banking access, custody, and fiat payouts. Access remains limited to approved businesses, with know-your-business verification, customer identity checks, geographic restrictions, and supported payment corridors, as the service is still in early access.

Solana Foundation President Lily Liu said "unblocked and unmuted" after Solana's Oct. 29 announcement of its integration with Polygon's Open Money Stack for stablecoin payments. The service connects Solana businesses with bank deposits, wallets, asset conversion and payouts through one integration. Polygon's U.S. payments business holds 37 state money transmitter licenses and 11 exemptions. Solana businesses gain bank deposits and payouts, with funding methods including bank transfers, cards, cash, and cryptocurrency. Supported assets include USDC, USDT, PYUSD, SOL and wrapped SOL, with routing between Solana, TRON and EVM networks. Kira is among early adopters, using the connection to convert stablecoins into dollars for supplier payments. Polygon's Trails service had already supported Solana since August, routing stablecoins and SOL between Solana and over 20 EVM chains. The Oct. 29 announcement details Solana support across the full payment flow, including virtual accounts, embedded wallets and bank payouts. Polygon completed its Coinme acquisition on Oct. 14, giving coverage across 48 U.S. states.

Polygon Labs is bringing its Open Money Stack payments infrastructure to Solana, enabling businesses to access bank funding, digital wallets, cross-chain transfers and payouts through a single integration. The partnership does not merge the rival blockchains but lets businesses transfer stablecoins on Solana while using Polygon's banking and payment services. Cross-border payments firm Kira is among the first users, combining Solana's stablecoin transfers with Polygon's banking connections to pay overseas suppliers in dollars. Polygon and Solana have competed for years, but now see advantages in working together as traditional financial institutions enter the stablecoin market. Solana has recorded over $5.7 trillion in stablecoin transfers this year, while Polygon has surpassed $3 trillion since launch.

Polygon Labs has added Solana to its Open Money Stack payments platform, allowing businesses to route bank deposits into Solana stablecoin payouts through a single API integration. The move, announced October 29, eliminates the need for companies to manage separate bridges or pre-fund liquidity, with fiat inflows via ACH, cards, and cash converted to stablecoins for payouts. The integration builds on Polygon's Trails cross-chain routing tool, which since August has supported SOL, USDC, USDT, and PYUSD between Solana and over 20 EVM chains. Polygon's acquisition of Coinme provides money transmitter licenses across 48 US states, while settlement on Polygon offers sub-2-second finality with fees around $0.002. Early adopters include Tazapay, Mesh, Toku, and Kira, focusing on cross-border payments and payroll. Polygon positions itself as a multi-chain payments layer, with Solana gaining a new distribution channel for its stablecoin ecosystem. The company did not disclose transaction volumes or pricing for the Solana integration, and execution risks remain given the history of bridge vulnerabilities.

Polygon Labs has added Solana support to its Open Money Stack (OMS), a platform that lets businesses connect bank accounts, wallets, and stablecoin transfers through a single integration. The expansion, announced Thursday, follows TRON support and aims to simplify moving funds between traditional banking and crypto networks, including Polygon, Ethereum, and TRON. Kira, a cross-border payments company, is among the first customers to adopt Solana via OMS, using it to expand stablecoin options for fintechs, OTC desks, and import brokers. The system handles fiat conversion, customer wallets, cross-chain routing, and compliance, supporting public settlement via Polygon Chain or customized CDK rollups.

Polygon Labs has expanded its Open Money Stack payment infrastructure to Solana, enabling businesses to connect bank accounts, digital wallets, cross-chain transfers, and global payouts through a single integration. This move allows companies building on Solana to access banking and crypto payment channels while moving funds between networks like Polygon, Ethereum, and TRON. Kira, a fintech company, is among the first adopters, using the integration to convert stablecoin transfers into dollars for international supplier payments. The expansion follows Polygon's addition of TRON support and its Coinme acquisition, which extended its U.S. payments coverage to 48 states. Polygon Labs noted that Polygon Chain has processed over $3 trillion in cumulative stablecoin volume, while Solana has handled over $5 trillion in 2026.

Polygon Labs has expanded its Open Money Stack, a suite of stablecoin payments tools, to the Solana blockchain. The platform aims to simplify crypto payments by providing a single connection for bank funding, cross-chain transfers, and global payouts, reducing the need for multiple providers. Businesses can integrate the full stack or individual components. The move leverages Solana's growth as a payments network, which has processed over $5 trillion in stablecoin volume this year. Cross-border payments firm Kira is among the first adopters, using the service to convert stablecoin transfers into dollar bank payouts for overseas suppliers. Polygon's expansion follows its acquisition of crypto-cash firm Coinme.