Polygon Labs Acquires Coinme and Sequence for Over $250 Million to Enter U.S. Stablecoin Market
Polygon Labs, a significant player in blockchain technology, has recently revealed its plans to acquire Coinme and Sequence for a remarkable sum exceeding $250 million. This strategic move is poised to enhance Polygon's capabilities in the realm of U.S.-licensed stablecoin payments, contributing to a more integrated financial ecosystem.
The agreement to acquire both companies is seen as a crucial step toward building the forthcoming Polygon Open Money Stack. This stack is intended to facilitate immediate and reliable financial transactions by incorporating essential components such as fiat on- and off-ramps, wallet infrastructure, and cross-chain payment orchestration. With over $1 billion in offchain sales and more than $2 trillion in onchain value exchanges already processed between them, Coinme and Sequence bring substantial experience and technical prowess to the partnership.
Founded in 2014, Coinme is recognized as one of the first licensed digital currency exchanges in the United States. The company possesses money-transmitter licenses and the necessary compliance infrastructure to operate effectively across 48 states. Coinme's strengths lie in its extensive physical fiat-to-crypto network, which spans over 50,000 retail locations across the country. This network is complemented by a licensed wallet infrastructure and comprehensive enterprise APIs and SDKs that allow seamless integration with various payment applications.
Additionally, Coinme has established vital partnerships and collaborations with notable enterprises including Exodus, Coinstar, and Baanx, serving over one million users through its payments app.
On the other hand, Sequence, founded in 2017, has made significant contributions to streamlining crypto payment processes through its smart wallet technology. The company is currently backed by leading investors such as Coinbase, Polychain, and Ubisoft, providing much-needed funding while expanding its reach across major blockchain ecosystems. Sequence's advanced infrastructure facilitates effortless cross-chain payment operations without requiring users to struggle with complex bridging or swap mechanisms.
Sequence's innovative Trails product further enhances the ecosystem by offering universal rails for 1-click cryptocurrency transactions and payments, allowing ease of use across various tokens and wallets. This integration is seen as vital, especially considering the current fragmented nature of payment frameworks in the crypto industry.
Both Coinme and Sequence are set to play pivotal roles in enhancing Polygon's planned Open Money Stack. This integrated service aims to provide comprehensive capabilities that allow seamless movement of money between traditional financial institutions and onchain systems while ensuring compliance, reliability, and scalability for global transactions. The anticipated benefits include enabling enterprises and financial institutions to utilize stablecoins effectively, resulting in reduced transaction fees, faster settlements, and overall improved pricing predictability.
Marc Boiron, CEO of Polygon Labs, highlighted the growing importance of stablecoin infrastructure: "Stablecoins are increasingly being used as a settlement layer for global payments, but the infrastructure around them remains fragmented." This acquisition aims to address those barriers, ensuring that Polygon can offer regulated access to vital U.S. payment frameworks.
Sandeep Nailwal, founder of the Polygon Foundation, expressed the ambition to transform Polygon into a leading vehicle for stablecoin transactions worldwide. He emphasizes the ultimate goal: moving all money onchain, facilitating instant and programmable financial interactions that enhance the speed and efficiency of transactions.
The Sequence transaction is poised to finalize soon, while the Coinme acquisition is expected to close in the second quarter of 2026 pending regulatory approvals. With these moves, Polygon Labs aims to empower developers and businesses, allowing for the creation of more intuitive Web3 experiences that will help foster innovation and expansion within the cryptocurrency and fintech industries. As Polygon continues to navigate this dynamic landscape, its commitment to building a robust, integrated payments platform reflects a significant step forward in the evolution of digital finance.
Understanding the Acquisition
The agreement to acquire both companies is seen as a crucial step toward building the forthcoming Polygon Open Money Stack. This stack is intended to facilitate immediate and reliable financial transactions by incorporating essential components such as fiat on- and off-ramps, wallet infrastructure, and cross-chain payment orchestration. With over $1 billion in offchain sales and more than $2 trillion in onchain value exchanges already processed between them, Coinme and Sequence bring substantial experience and technical prowess to the partnership.
Coinme: A Pioneer in Digital Currency
Founded in 2014, Coinme is recognized as one of the first licensed digital currency exchanges in the United States. The company possesses money-transmitter licenses and the necessary compliance infrastructure to operate effectively across 48 states. Coinme's strengths lie in its extensive physical fiat-to-crypto network, which spans over 50,000 retail locations across the country. This network is complemented by a licensed wallet infrastructure and comprehensive enterprise APIs and SDKs that allow seamless integration with various payment applications.
Additionally, Coinme has established vital partnerships and collaborations with notable enterprises including Exodus, Coinstar, and Baanx, serving over one million users through its payments app.
Sequence: Innovating Cross-Chain Payments
On the other hand, Sequence, founded in 2017, has made significant contributions to streamlining crypto payment processes through its smart wallet technology. The company is currently backed by leading investors such as Coinbase, Polychain, and Ubisoft, providing much-needed funding while expanding its reach across major blockchain ecosystems. Sequence's advanced infrastructure facilitates effortless cross-chain payment operations without requiring users to struggle with complex bridging or swap mechanisms.
Sequence's innovative Trails product further enhances the ecosystem by offering universal rails for 1-click cryptocurrency transactions and payments, allowing ease of use across various tokens and wallets. This integration is seen as vital, especially considering the current fragmented nature of payment frameworks in the crypto industry.
Implications for the Future of Payments
Both Coinme and Sequence are set to play pivotal roles in enhancing Polygon's planned Open Money Stack. This integrated service aims to provide comprehensive capabilities that allow seamless movement of money between traditional financial institutions and onchain systems while ensuring compliance, reliability, and scalability for global transactions. The anticipated benefits include enabling enterprises and financial institutions to utilize stablecoins effectively, resulting in reduced transaction fees, faster settlements, and overall improved pricing predictability.
Marc Boiron, CEO of Polygon Labs, highlighted the growing importance of stablecoin infrastructure: "Stablecoins are increasingly being used as a settlement layer for global payments, but the infrastructure around them remains fragmented." This acquisition aims to address those barriers, ensuring that Polygon can offer regulated access to vital U.S. payment frameworks.
Sandeep Nailwal, founder of the Polygon Foundation, expressed the ambition to transform Polygon into a leading vehicle for stablecoin transactions worldwide. He emphasizes the ultimate goal: moving all money onchain, facilitating instant and programmable financial interactions that enhance the speed and efficiency of transactions.
The Path Ahead
The Sequence transaction is poised to finalize soon, while the Coinme acquisition is expected to close in the second quarter of 2026 pending regulatory approvals. With these moves, Polygon Labs aims to empower developers and businesses, allowing for the creation of more intuitive Web3 experiences that will help foster innovation and expansion within the cryptocurrency and fintech industries. As Polygon continues to navigate this dynamic landscape, its commitment to building a robust, integrated payments platform reflects a significant step forward in the evolution of digital finance.
Topics Financial Services & Investing）
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