Polygon Labs has agreed to acquire crypto payments firm Coinme and wallet infrastructure provider Sequence in deals valued at more than $250 million, a move that positions the network as a regulated platform built to move stablecoins onchain at scale as competition heats up in the U.S. payments market.
Building a regulated payments stack
The acquisitions give Polygon access to Coinme’s U.S. money-transmitter licenses and its fiat on- and off-ramps, alongside Sequence’s embedded wallets and cross-chain payment tools used by banks, fintechs, and enterprises. Together, they expand Polygon’s reach beyond blockchain infrastructure into regulated money movement.
Polygon said the two companies will form the backbone of what it calls the “Polygon Open Money Stack,” combining blockchain rails, licensing, and wallet infrastructure into a single platform designed for onchain payments. Coinme’s footprint spans 48 U.S. states and includes more than 50,000 cash-to-crypto kiosks and ATMs nationwide.
Reducing friction for enterprises
Sequence’s technology is aimed at smoothing the user experience for businesses and end users alike. Its embedded wallets and Trails orchestration layer handle cross-chain transactions while abstracting away complexity such as bridging, token swaps, and gas fees.
Speaking on Cointelegraph’s Chain Reaction podcast, Polygon Labs CEO Marc Boiron said the goal is to offer a fully integrated stack that lets stablecoins move money anywhere. He described the strategy as a way to support enterprises that are still early in their exploration of blockchain-based payments.
A crowded race around stablecoins
Boiron pushed back on comparisons with payments giants like Stripe, saying Polygon is not trying to replace established players. Instead, he framed the network as a collaborator as companies test stablecoin use cases and adoption evolves.
The deals come amid a broader scramble to support tokenized dollars following the passage of the GENIUS Act in July 2025. Stripe has announced plans for its own payments-focused blockchain, PayPal continues to expand PYUSD across networks and platforms, and global card networks such as Visa and Mastercard are rolling out stablecoin settlement partnerships. Polygon did not disclose the individual price tags or payment structure for the Coinme and Sequence acquisitions.