Polygon Labs Acquires Coinme and Sequence in $250M+ Deal on Stablecoin Payments

• Polygon Labs Acquires Coinme and Sequence in $250M+ Bet on Stablecoin Payments.

•  Coinme and Sequence deals represent a strategic pivot toward real-world financial services.

  
  

Polygon Labs Deepens Stablecoin Payments Push With Coinme and Sequence Acquisitions

Blockchain infrastructure firm Polygon Labs has signed agreements to acquire crypto payments company Coinme and wallet infrastructure provider Sequence for more than $250 million, marking one of the company’s most ambitious expansions to date.

The acquisitions underscore Polygon’s strategy to move beyond being a general-purpose blockchain and toward becoming a regulated, stablecoin-powered payments platform, particularly in the United States.

Targeting the Growing Demand for Stablecoin Payments

Stablecoins, digital assets pegged to fiat currencies like the U.S. dollar, are increasingly viewed as a practical alternative for payments and settlements. Interest in their use has accelerated following the passage of the Genius Act, which provided clearer regulatory guardrails for digital assets.

Despite growing demand, stablecoin payments remain hindered by fragmented infrastructure. Polygon’s acquisitions aim to solve this problem by bringing fiat onramps, wallet technology, and cross-chain payment tools under one roof.

“Our goal is to become a regulated U.S. payments player. Payments is the killer use case,”

Polygon Labs CEO Marc Boiron said, emphasizing that business-to-business payments will be the company’s initial focus before expanding to consumer services.

What Coinme Brings to Polygon

Founded in 2014, Coinme is one of the earliest crypto payments companies in the U.S. and is best known for enabling users to convert cash into crypto through regulated channels, including bitcoin ATM kiosks.

By acquiring Coinme, Polygon gains access to regulated fiat on- and off-ramps in the U.S and a compliance-ready infrastructure for stablecoin transactions.

A payments network backed by investors such as Pantera Capital, Digital Currency Group, and Circle. The deal strengthens Polygon’s regulatory positioning as it competes for a role in mainstream payments.

Sequence Adds Cross-Chain Wallet and Payment Infrastructure

The second acquisition, Sequence, brings advanced smart wallet and cross-chain infrastructure designed to simplify crypto payments across multiple blockchains. Sequence’s technology abstracts away much of the complexity users face today, including managing bridges and swaps and handling gas fees across chains.

Backed by firms such as Brevan Howard Digital and Coinbase, Sequence aligns with Polygon’s belief that ease of use is essential for enterprise and consumer adoption of on-chain payments.

The Open Money Stack Vision

Both Coinme and Sequence will form the foundation of Polygon’s upcoming Open Money Stack, a framework intended to unify.

The Open Money Stack is expected to launch in 2026 and is designed to operate across multiple blockchains rather than be limited to Polygon.

“We fully expect payments to settle on multiple chains. Payments are so big there will always be many chains,”

Boiron said, highlighting Polygon’s multi-chain strategy.

While Coinme and Sequence will maintain distinct licensing and operational structures, Polygon plans to present them as a single, unified payments platform to customers.

Competing Through Partnerships, Not Rivalry

Polygon’s move comes as traditional payment giants like Visa and Mastercard explore stablecoin settlement, intensifying competition in the space. However, Polygon is avoiding direct confrontation for now.

Instead, Boiron says the company will focus on partnerships, arguing that collaboration between crypto-native platforms and legacy payment networks can accelerate adoption.

“In five or 10 years, we will find out if cards are still going to be necessary,”

He said.

“But for the time being, we can work together and grow the pie.”

A Shift Toward Revenue-Generating Crypto Services

The acquisitions reflect a broader industry trend: crypto projects increasingly positioning themselves as neobank-like platforms offering payments, custody, and compliance services on blockchain rails.

For Polygon Labs, the Coinme and Sequence deals represent a strategic pivot toward real-world financial services, with stablecoins at the center signaling its ambition to play a lasting role in the future of global payments.