Polygon Labs Buys Coinme and Sequence in $250M Stablecoin Payments Deal

Polygon Labs has signed definitive agreements to acquire Coinme and Sequence in a transaction valued at more than $250 million. The company said the deal is part of a broader effort to expand stablecoin-based payments and strengthen on-chain money movement across its ecosystem. 

According to a Reuters report, the acquisitions will supply three essential components of its upcoming Open Money Stack. These components include regulated fiat on- and off-ramps, enterprise wallet infrastructure, and cross-chain orchestration through intents. The company said the structure is designed to support stablecoin settlement at scale and simplify developer workflows.

Coinme and Sequence have now facilitated more than $1 billion in off-chain transactions, according to Polygon Labs. They have also facilitated more than $2 trillion worth of on-chain value transfers. Higher payment activities will increase throughput on Polygon Chain, the company said. That greater throughput would mean more fee revenue for validators and stakers.

Coinme Expands Polygon’s Licensed Reach

The purchasing comes as stablecoins gain traction as global payment rails, the company said. Recent consideration of U.S. federal policy is making industry wonder about compliant stablecoin models as well. Polygon Labs said it aims to combine regulated fiat access with low-cost and rapid blockchain settlement.

Coinme was founded in 2014 and is one of the first licensed digital currency exchanges in the country. It is licensed as a money transmitter in 48 states. The company also operates a physical fiat-to-crypto network at over 50,000 retail locations across the country.

Also Read: Kraken-Backed SPAC Aims High with $250M IPO for Crypto Infrastructure Boost

Coinme offers enterprises regulated crypto-as-a-service products. Its products consist of licensed wallet infrastructure, enterprise APIs, and SDKs. The company has partnered with other firms, including Exodus, Coinstar, Mercuryo, and Baanx. It also counts more than one million store users from the retailer side.

Investors include Pantera, Digital Currency Group, Coinstar, Circle, and MoneyGram. Once regulatory approval is received, Coinme will become a wholly owned subsidiary running under Polygon Labs.

Sequence Enhances Polygon Labs’ Open Money Stack

Sequence brings in the smart wallet tools and cross-chain orchestration engine. Using the technology, people can make blockchain payments without going through bridges, swaps, or gas fees. According to Polygon Labs, the system takes friction out of and removes complexity for users and developers.

Sequence is supported by Brevan Howard Digital, Initialized Capital, Coinbase, Polychain, and Consensys. The company operates on several blockchain ecosystems, such as Polygon, Arbitrum, and Immutable. It also teams up with Google Cloud for distribution.

According to Polygon Labs, the acquisitions will both form the pillars of its Open Money Stack. It’s a system to bridge traditional financial rails and blockchain settlement in one interface. The stack, the company said, will launch in 2026 and is meant to be used across multiple blockchains rather than just one network.

Also Read: Polygon (POL) Rallies 41% Weekly as Polymarket Surge Accelerates Network Burns