Polygon Labs finalizes Coinme deal, expands US payments

6.7 Banking

Oct 14, 2026

Polygon Labs acquired Coinme, gaining payments coverage in 48 states, a 50,000-location network, and over one million users. The Open Money Stack attracts clients for cross-border payments and payroll solutions.

Polygon Labs has completed its acquisition of Coinme, securing 37 state money transmitter licenses and 11 exemptions. This move extends regulated payments coverage to 48 U.S. states, significantly boosting Polygon’s compliance infrastructure and retail reach. Coinme brings a network of 50,000 retail locations and over one million app users. The $250 million deal also includes wallet infrastructure firm Sequence, further strengthening Polygon’s position in the payments sector. With the integration of the Open Money Stack, Polygon now offers fiat on- and off-ramps, wallets, cross-chain routing, and settlement. Early adopters like Tazapay, Mesh, Toku, and Kira are using the platform for cross-border payments, payroll, and banking services. The combined businesses have processed $1 billion in offchain sales and $2 trillion in onchain volume, marking a major step in streamlining blockchain-based financial operations in the U.S.