- Polygon Labs acquired Coinme and Sequence for over US$250 million to build the “Open Money Stack,” a unified framework for global stablecoin payments.
- The deal integrates Coinme’s US money-transmitter licenses and 50,000 retail locations with Sequence’s smart-wallet tech to simplify cross-chain transactions.
- Polygon aims to become a regulated payments provider by 2026, competing with traditional giants like Stripe by moving fiat and stablecoin flows entirely on-chain.
Polygon Labs has signed definitive agreements to buy crypto payments firm Coinme and wallet infrastructure provider Sequence for more than US$250 million (AU$382 million).
The acquisitions, Polygon says, are the foundation for a new stablecoin payments framework it plans to launch in 2026.
Polygon said Coinme and Sequence will operate as distinct components internally but be presented to customers as a single payments platform, with licensing kept in separate entities.
Related: XRP ETFs Top $1B in Inflows, But Analysts Warn the Rally May Fade
Details About the Acquisitions
The company said the deals will anchor its “Open Money Stack,” a developer-focused bundle of blockchain settlement, wallet infrastructure and regulated fiat access aimed at moving stablecoin payments between traditional financial systems and onchain networks, including for cross-border transfers. Polygon says the stack is being built to run across multiple blockchains rather than being tied to a single network.
Coinme adds regulated on- and off-ramps to the Polygon ecosystem. Coinme is known as an early US bitcoin ATM kiosk provider. Crypto News Australia previously reported Polygon was discussing a purchase price in the range of US$100 million to US$125 million (AU$191 million)
By combining Coinme’s regulated U.S. payment infrastructure and nationwide cash network with Polygon’s ecosystem, we’re creating something powerful: a turnkey solution that enables Web2 and Web3 companies to embed compliant stablecoin payments directly into their platforms.
CoinmeMeanwhile, Sequence brings “smart wallet” and cross-chain tooling intended to make crypto payments feel more like standard checkout flows, including handling complexity such as bridging, swaps and gas fees in the background.
Polygon CEO Marc Boiron said in a statement the strategy reflects a deliberate pivot toward payments over the past year and expects settlement to remain multi-chain, arguing payments volume is large enough to support multiple networks.
Read more: Monero Breaks $500 as Zcash Turmoil and Privacy Narrative Fuel Rally
Credit: Source link
