Polygon Labs has acquired US-based crypto firms Coinme and Sequence in a deal valued at more than $250 million, signaling a sharp pivot toward regulated onchain payments infrastructure. The acquisition, announced Tuesday, positions the firm to operate as a US-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's Regulated Payments Vision
“Polygon to become US 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 US states, access to more than 50,000 fiat-to-crypto locations nationwide, and one-click crypto transactions across chains. This comprehensive approach is designed to eliminate the compliance burdens that have historically hindered mainstream blockchain adoption.
Coinme: The Regulatory Backbone
Coinme brings critical regulatory muscle. The firm holds money-transmitter licenses across most of the US 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, providing a ready-made compliance layer that can be immediately leveraged across the Polygon ecosystem.
Sequence: Simplifying the User Experience
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. By integrating Sequence’s wallet and cross-chain infrastructure, Polygon can offer a frictionless experience that reduces barriers for both retail and institutional users.
Introducing the Polygon Open Money Stack
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. This vertically integrated approach is unprecedented in the industry, as it combines blockchain infrastructure, licensed payment processing, and user-friendly wallet technology under a single, compliant framework. Polygon Labs believes this will unlock new use cases in remittances, payroll, merchant payments, and decentralized finance (DeFi) for traditional financial institutions.
Market Implications and Future Outlook
The acquisition represents Polygon Labs’ largest bet on payments to date and comes as the broader crypto industry accelerates its pivot toward institutional and regulated offerings. By acquiring Coinme’s licenses and Sequence’s technology, Polygon not only secures a foothold in the lucrative US payments market but also positions itself as a gateway for traditional finance to enter the onchain economy. Analysts view the Polygon Open Money Stack as a potential bridge between legacy payment systems (like credit cards and ACH) and decentralized blockchain networks, especially as the US regulatory landscape evolves. With this move, Polygon is staking its claim as a leader in the next phase of crypto adoption—one centered on compliance, usability, and real-world utility.