Polygon Labs, a developer of solutions for scaling the Ethereum blockchain, has agreed to acquire the licensed crypto cash network Coinme and its subsidiary, Sequence. The total deal value exceeds $250 million. The acquisition aims to establish Polygon’s presence in the U.S. licensed stablecoin payments sector.
Coinme brings money-transmitter licenses valid in 48 states and a network of over 50 000 physical kiosks. This provides on- and off-ramps between traditional cash and digital assets. Sequence contributes smart wallet technology and a cross-chain transaction engine.
The combined infrastructure is intended to form the core of the Polygon Open Money Stack. This initiative seeks to simplify compliant stablecoin payments for businesses and consumers. The goal is to enable seamless movement of money between traditional finance and blockchain networks.
Polygon’s strategy focuses on capturing growth in stablecoin transactions. The network benefits from increased on-chain activity through transaction fees. The deal positions Polygon to serve enterprises, fintechs, and remittance providers.
The acquisition of Sequence is expected to close imminently. The Coinme transaction is slated for completion in the second quarter of 2026, pending regulatory approvals.
Polygon Labs develops scaling solutions for the Ethereum blockchain. Coinme is a U.S.-licensed digital currency cash exchange. Sequence is a developer of smart wallet and cross-chain technology.
Image: Freepik
