Polygon Completes Coinme Deal And Gains US Payments Licences Across 48 States
Summary
Polygon Labs completed its acquisition of Coinme, adding 37 state money-transmitter licences, 11 exemptions and FinCEN money-services-business registration to its payments operation, covering 48 states. The deal, part of a package that also included wallet infrastructure firm Sequence, was previously valued at more than $250 million; that was not Coinme’s individual purchase price. Coinme’s regulated money-movement capabilities will support Polygon Open Money Stack, which aims to connect bank and card payments with on-chain settlement. Polygon says the platform is being introduced to selected customers, not yet offered as a new nationwide consumer product.
