Ubyx clears tokenized money for banks and fintechs, with Polygon as a settlement chain

Stablecoins and tokenized deposits are moving from crypto use cases into normal payments: regular people and regular businesses making regular payments with tokenized money. But issuance alone does not make money usable. Instruments have to be accepted, and they have to be able to off-ramp through PSPs, banks, and merchants.

Today, an issuer faces the same cold start that early credit card companies did, signing up acceptance one counterparty at a time. And the institutions on the receiving side need a way to take any coin and convert it, for example an American stablecoin converted into Naira in Nigeria by a PSP, without negotiating a relationship with every issuer.

"The problem of the issuer is acceptance. Who's going to use my tokenized money?"

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Tony McLaughlin
Founder, Ubyx

Ubyx builds the mutualized acceptance network that solves both sides at once. Issuers plug into broad acceptance without signing up every bank and merchant themselves. Banks, PSPs, and exchanges accept tokenized money and convert it into other forms of money, earning FX revenue in the process.

Ubyx positions banks and fintechs around the world to hold wallets connected to many chains, and Polygon is the kind of chain that wins in that model. Payments demand throughput that supports high-frequency, high-volume flows at low cost, and Polygon delivers that while hosting the stablecoins institutions actually want to accept. In McLaughlin's view, chains that embrace the needs of corporates and everyday payers are the ones that will carry the rails for tokenized money.

"Once every bank and PSP on the planet is connected to multiple chains including Polygon, then those new rails win."

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Tony McLaughlin
Founder, Ubyx

Ubyx is early in its buildout, and network metrics such as connected institutions and cleared volume are data pending. What the partnership has already produced is positioning: Ubyx brings banks and fintechs to the starting line with multichain wallets, and Polygon competes for their payment flows on performance. McLaughlin's own forecast sets the trajectory.

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

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Tony McLaughlin
Founder, Ubyx

The bottom line: Ubyx is building the acceptance layer that makes tokenized money spendable everywhere, and Polygon is one of the settlement chains built for the payments volume that follows.