Mento Protocol Brings Decentralized FX to Polygon
Mento Protocol, a leading decentralized FX infrastructure, has been deployed on Polygon. This move enables predictable onchain FX liquidity between USD-denominated and non-USD-denominated stablecoins, expanding Polygon's stablecoin ecosystem beyond dollar-only liquidity.
The EUR/USD pair accounts for around $2 trillion of the $9.5 trillion traded daily across global FX markets, making it the single deepest currency pair in the world. Stablecoin activity remains largely concentrated in USD-denominated assets, but this is shifting with Polygon becoming one of the leading networks where local-currency stablecoin markets are finding real payment scale.
The deployment of Mento Protocol on Polygon adds the FX layer needed to connect those markets. This enables developers and institutions to launch, trade, and settle global currencies onchain with institutional-grade reliability. The Mento Protocol provides programmable FX via transparent liquidity and real-world pricing from trusted oracles, supporting use cases such as cross-border payments, treasury operations, and institutional settlement.
The Polygon deployment is supported by Capa, a LATAM-focused financial infrastructure provider that powers cross-border FX and payments, as a day-one liquidity partner. Together, Mento and Capa are bringing supported dollar-euro FX liquidity to Polygon from launch, providing access to a more complete stablecoin market structure beyond dollar-only liquidity.