Polygon Strikes $250M Coinme, Sequence Deal To Expand US Payments

Polygon Labs has announced deals valued at over $250 million to acquire US-based crypto payments company Coinme and wallet infrastructure provider Sequence. These acquisitions are intended to form the foundation of the "Polygon Open Money Stack," a vertically integrated platform designed for onchain payments that combines blockchain rails, regulated money movement, and wallet infrastructure.

The deal grants Polygon access to Coinme’s network of US money-transmitter licenses across 48 states and its 50,000 retail cash-to-crypto kiosks, alongside Sequence’s embedded wallets and cross-chain payment tools. Polygon Labs CEO Marc Boiron stated the goal is to become a regulated payments platform allowing anyone to use stablecoins to move money anywhere.

This strategic move intensifies competition in the US stablecoin payments infrastructure space, where rivals like Stripe and PayPal are also expanding their offerings. However, Boiron downplayed direct competition with giants like Stripe, emphasizing Polygon's focus on working alongside established players as enterprise adoption of stablecoins evolves.

(Source：Cointelegraph)