Polygon Labs buys Coinme, Sequence for $250M to advance stablecoin payments

Polygon Labs, the developer of the Ethereum layer 2 scaling network, announced the acquisition of Coinme and Sequence for $250 million to bolster its stablecoin payments strategy. These acquisitions will form the foundation of the "Open Money Stack," an open, regulated system designed to enable stablecoins to function as real-world money at scale by integrating regulated fiat access with blockchain settlement. The stack combines Coinme’s fiat on- and off-ramps across 48 states, Sequence’s enterprise wallet technology, and Polygon’s blockchain infrastructure. This integration aims to facilitate compliant fiat-to-stablecoin conversion, seamless cross-chain payments, and fast settlement for institutions, positioning the stack as a foundation for next-generation global payments. Polygon Labs anticipates these acquisitions will generate over $100 million in annual revenue, with the transaction expected to close soon.

(Source：Crypto Briefing)