Polygon Labs Rolls Out Fiat Balances in OMS Platform

Polygon Labs has introduced fiat balances in its OMS (Open Money Stack) platform, allowing businesses to hold US dollars within the stack and convert them to stablecoins as needed.

This feature enables companies to bypass traditional banking hours and wire transfer wait times, which can take up to two days or more. With a fiat balance, businesses can fund their OMS account ahead of time and convert the dollars to stablecoins instantly when they need to move money.

This is particularly useful for cross-border payments, payout batching, and treasury staging. For instance, a Canadian entity can pay a Singaporean vendor directly from its US-based fiat balance without requiring a new correspondent banking relationship in each corridor.