Polygon Labs Expands into Licensed Stablecoin Payments with $250 Million Acquisition
Polygon Labs has signed definitive agreements to acquire US-regulated payments company Coinme and wallet infrastructure provider Sequence for more than $250 million, accelerating its expansion into licensed stablecoin payments in the United States. This strategic move aims to provide a comprehensive payments platform, combining regulated fiat entry and exit, enterprise wallet infrastructure, and cross-chain orchestration through intent.
Building a Regulated Scale for Stablecoin Payments
Together with Polygon, Coinme and Sequence have already processed more than $1 billion in off-chain sales and over $2 trillion in on-chain value transfers. As payment activity increases, Polygon Chain is able to achieve higher on-chain throughput and network fees, directly benefiting validators and stakers. The acquisitions come as stablecoins continue to gain traction as a settlement layer for global payments, particularly following recent advances in federal stablecoin regulation in the United States.
Coinme Brings US Licensing and Physical Distribution
Founded in 2014, Coinme is one of the first licensed digital currency exchanges in the United States. The company has money transfer licenses in 48 US states and operates a physical fiat-to-crypto network in more than 50,000 retail locations. In addition to licensed wallet infrastructure, enterprise APIs and SDKs, Coinme also offers regulated crypto-as-a-service offerings for fintechs and enterprises. Following regulatory approval, Coinme will operate as a wholly owned subsidiary of Polygon Labs.
Sequence Adds Wallets and Cross-Chain Intents
Sequence offers smart wallet technology and a one-click cross-chain orchestration and intents engine that abstracts complexity for users. Its infrastructure enables payments across multiple blockchains without requiring users to manage bridges, swaps, or gas. With the backing of investors such as Brevan Howard Digital, Initialized Capital, Coinbase, Polychain, and Consensys, Sequence supports large ecosystems such as Polygon, Arbitrum, and Immutable while partnering with Google Cloud as a distribution channel.
The Open Money Stack Vision
By combining Coinme’s regulated fiat access with Sequence’s wallet and cross-chain capabilities, Polygon aims to provide an open, integrated payments platform for banks, fintechs, enterprises, remittance providers, and merchants. The goal is to enable 24/7 real-time stablecoin settlements with lower fees, less reliance on correspondent banking, and predictable pricing. According to Marc Boiron, CEO of Polygon Labs, “Stablecoins are increasingly being used as a settlement layer for global payments, but the infrastructure around them remains fragmented.” Polygon founder Sandeep Nailwal added that the Open Money Stack provides a clear path to moving trillions of dollars on-chain while keeping the network open and interoperable.
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