Polygon Integrates Mento's FX Engine, Broadening Non-USD Stablecoin Payments

Polygon has integrated Mento Protocol's decentralized foreign-exchange infrastructure, adding a USDm/EURm liquidity pool aimed at expanding on-chain stablecoin payments beyond the U.S. dollar. Liquidity at launch is provided by Capa. EURm is supported by Schuman Financial's MiCA-regulated EURØP token, which serves as a reserve asset and strengthens the foundation for regulated euro-denominated settlement and compliant digital payments. The move is designed to help payment providers, fintech companies, and corporate treasury teams access more efficient cross-border FX rails. By enabling currency conversion between stablecoins directly on-chain, the integration targets faster, simpler settlement for businesses operating across regions as stablecoin usage increasingly extends past dollar-only flows. Mento's debut on Polygon marks its first FX market on the network. The setup addresses a persistent gap in digital payments: while USD stablecoins still dominate, many users and businesses transact day-to-day in local currencies such as euros, pesos, rupees, and naira. On-chain FX between stablecoins reduces reliance on traditional banking infrastructure for international payments. Industry estimates put global FX markets at about $9.5 trillion in daily trading volume, with the EUR/USD pair representing roughly $2 trillion. Bringing a portion of that activity on-chain could improve settlement efficiency while retaining blockchain transparency and 24/7 accessibility. Polygon said it has become a major venue for non-USD stablecoin activity, processing more than $11 billion in lifetime transfer volume involving non-dollar stablecoins and accounting for over 43% of such transfers across major blockchain ecosystems. Unlike conventional automated market makers, Mento uses a Fixed Price Market Maker model that references external FX price oracles, aiming to align pricing more closely with real-world currency markets while preserving the composability and efficiency associated with decentralized finance. The addition of regulated euro liquidity via EURØP also reflects Europe's broader push toward compliant digital assets following the implementation of the Markets in Crypto-Assets (MiCA) framework, which has supported growing institutional participation in blockchain-based financial services.