Polygon Labs has acquired U.S.-based crypto firms Coinme and Sequence in a deal valued at more than $250 million, signaling a sharp pivot toward regulated onchain payments infrastructure.
Polygon Labs Sets Sights on Banks and Fintechs
Polygon Labs disclosed Tuesday that the acquisitions position the firm to operate as a U.S.-regulated payments platform, bringing fiat onramps, offramps, and wallet infrastructure under one roof.
While the company did not reveal how the purchase price was allocated or how the deal was structured, it framed the move as a foundational step toward integrating traditional finance with blockchain-based systems.
“Polygon to become U.S. regulated payments platform,” the company wrote in a post on X, adding that the goal is to “move all money onchain.” According to Polygon Labs, the combined stack enables regulated money movement in 48 U.S. states, access to more than 50,000 fiat-to- crypto locations nationwide, and one-click crypto transactions across chains.
Coinme brings the regulatory muscle. The firm holds money-transmitter licenses across most of the U.S. and operates a licensed wallet infrastructure already embedded in tens of thousands of retail locations. Polygon Labs said Coinme’s enterprise API allows Web2 and Web3 companies to offer crypto trading, custody, and fiat onramps without building compliance frameworks from scratch.
Backed by investors including Pantera Capital, Digital Currency Group, Coinstar, Circle Ventures, and Moneygram, Coinme serves enterprise clients such as Exodus, Coinstar, and Baanx, along with more than 1 million users on its consumer payments app. For Polygon, that network offers instant scale—and regulatory cover.
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Sequence, meanwhile, handles the user experience. The platform specializes in embedded wallets and abstracting blockchain complexity so users never have to think about bridges, swaps, or gas fees. Polygon Labs said Sequence’s technology enables cross-chain payments to happen behind the scenes, quietly doing the heavy lifting.
Sequence’s backers include Brevan Howard Digital, Initialized, Coinbase, Polychain, Consensys, Take-Two Interactive, Ubisoft, and Bitkraft Ventures, and its tools are already deployed across major ecosystems such as Polygon, Arbitrum, Immutable, and Magic Eden.
Together, Polygon’s blockchain rails, Coinme’s regulated payment network, and Sequence’s wallet and cross-chain layer form what the company calls the Polygon Open Money Stack—an end-to-end system aimed squarely at banks, fintechs, and enterprises looking to move dollars and digital assets onchain without regulatory guesswork.
FAQ
- What did Polygon Labs acquire?
Polygon Labs acquired Coinme and Sequence in a deal valued at more than $250 million. - Why is Coinme important to the deal?
Coinme provides regulated U.S. money-transmitter licenses and fiat onramps across 48 states. - What does Sequence add to Polygon?
Sequence supplies embedded wallets and cross-chain payment tools that simplify onchain transactions. - What is Polygon Open Money Stack?
It is Polygon’s vertically integrated platform combining blockchain rails, regulated payments, and wallet infrastructure.