Polygon Labs has agreed to acquire crypto payments firm Coinme and wallet infrastructure provider Sequence in transactions valued at more than $250 million. The deals give Polygon access to Coinme’s US money-transmitter licenses and fiat on- and off-ramps, alongside Sequence’s embedded wallets and cross-chain payments tooling for enterprises.
The acquisitions form the foundation of Polygon’s planned “Open Money Stack,” which aims to combine blockchain settlement, regulated money movement, and wallet infrastructure into a unified payments platform. Coinme operates cash-to-crypto kiosks and ATMs across most US states, while Sequence focuses on reducing friction through embedded wallets and automated cross-chain execution.
The move comes as competition intensifies around stablecoin-based payments following clearer US regulatory frameworks. Payments firms, fintechs, and blockchain networks are positioning to support tokenized dollars at scale, with Polygon seeking to serve as an infrastructure partner rather than a direct competitor to established payment processors.
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