Ubyx Connects Banks to Tokenized Money on Polygon

Tony McLaughlin, a 30-year payments veteran and founder of Ubyx, is tackling the other side of the stablecoin equation. While many are racing to issue stablecoins, McLaughlin's solution addresses the problem of acceptance: making tokenized money ubiquitously accepted.

Ubyx is a tokenized money clearing system that enables any bank, payment service provider (PSP), or exchange to accept any coin without needing a bilateral relationship with its issuer. This mutualized acceptance network solves both sides of the equation at once: issuers plug into broad acceptance without signing up every bank and merchant themselves.

The partnership between Ubyx and Polygon Labs positions banks and fintechs around the world to hold wallets connected to multiple chains, including Polygon. According to McLaughlin, 'the payments use case requires high performance of a chain... it has to be fast. It has to be cheap.' Polygon delivers on these requirements.

In five to ten years, McLaughlin confidently predicts that every bank and fintech on the planet will offer wallets connected to multiple chains.