Polygon Labs Bolsters Stablecoin Payments Push, Acquiring Coinme and Sequence
Polygon Labs is transitioning into a regulated payments company with the $250 million acquisition of Coinme and Sequence. The move aims to power Polygon’s new Open Money Stack toolkit, designed to simplify digital asset management for businesses and support payments, lending, swaps, and remittances with emphasis on interoperability. Coinme, a FinCEN-registered firm enabling cash-to-crypto transactions at 50,000 U.S. locations, provides Polygon with a significant on-ramp for new users. Sequence, recognized for enterprise smart wallets and cross-chain payment routing, enhances Polygon’s infrastructure for advanced blockchain transactions. CEO Marc Boiron highlighted a shift in focus toward revenue generation, targeting transaction-based income rather than relying solely on value accrual to its token, POL. The acquisitions are expected to deepen Polygon's direct user relationships, foster revenue for POL stakers, and ease mainstream adoption through regulated, real-world payment solutions. The deal for Sequence should close this month; Coinme’s acquisition is set for later in the year.
