Polygon Labs Makes $250M Move: Acquires Coinme & Sequence

Polygon Labs acquires Coinme and Sequence for over $250M to expand its regulated payments platform, boost stablecoin infrastructure, and enhance its Open Money Stack toolkit for seamless digital asset management.

Polygon Labs has announced the acquisition of Coinme and Sequence in deals valued at over $250 million, aiming to strengthen its position in the regulated payments sector and expand its stablecoin infrastructure. Coinme, known for its extensive network of cash-to-crypto kiosks and money transmitter licenses across 48 U.S. states, will continue to operate as a wholly owned subsidiary, providing a significant physical on-ramp for crypto adoption. Sequence, a provider of enterprise wallet technology and cross-chain payment solutions, will enhance Polygon’s Open Money Stack, a toolkit designed to support payments, lending, and remittances with a focus on interoperability and user experience. The acquisitions are intended to drive more transaction volume and revenue to Polygon’s native token, POL, and position the company as a comprehensive fintech platform. Both deals are subject to regulatory approval, and Polygon’s leadership has expressed confidence in Coinme’s compliance practices despite previous regulatory challenges. The move is seen as a direct challenge to established fintech firms and marks a significant step in bridging traditional finance with decentralized solutions.