Polygon Gains Enterprise Traction Amid Competition

Polygon is considered one of crypto's most enterprise-friendly chains due to its low transaction costs and ability to connect to bank rails. The average cost per transaction on Polygon is around $0.002, with over $2.9 trillion in stablecoin transfers processed through the network.

Polygon has built or acquired various components to meet the needs of large companies, including a settlement chain, compliance tools, and independent security audits. Its base chain, called Polygon Chain or Polygon PoS, handles settlement work, while its Open Money Stack (OMS) API offers a single integration for payment teams.

The OMS API has been in technical preview since June 4, with limited access to select partners. However, it supports custodial wallets and non-custodial wallets, as well as a Private Mempool that hides transactions until confirmation. Polygon's Private Mempool is live, with free and paid enterprise tiers available.

Polygon has partnered with various companies, including Revolut, Visa, and Mastercard, to integrate its technology into their programs. However, not all analysts agree that Polygon is the best fit for enterprises, citing competition from other chains and shifting focus within Polygon Labs.