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Polygon Labs has announced definitive agreements to acquire Coinme and Sequence in deals valued at more than USD 250 million, marking a significant step toward building what it calls the Polygon Open Money Stack.
The acquisitions are intended to strengthen Polygon's ability to connect traditional financial systems with blockchain-based payments.
According to Polygon Labs, the combined businesses have already handled more than USD 1 billion in offchain sales and over USD 2 trillion in onchain value transfers. As payment activity grows, increased transaction throughput and network fees are expected to accrue on the Polygon Chain, benefiting validators and stakers that secure the network.
Coinme, founded in 2014, is one of the earliest licensed digital currency exchanges in the United States. The company holds money-transmitter licenses that allow it to operate in 48 US states and runs a regulated crypto-as-a-service platform used by fintech firms and enterprises. Coinme also operates a physical cash-to-crypto network with more than 50,000 retail locations, along with licensed wallet infrastructure and enterprise-grade application programming interfaces.
Sequence, established in 2017, focuses on blockchain infrastructure aimed at simplifying onchain development and usage. Its modular stack includes smart wallets, account abstraction, developer tools, and onchain data services. A key component is Trails, an intents-based system that enables one-click crypto transactions across different blockchains without users needing to manage bridging, token swaps, or gas fees. Sequence infrastructure is used across multiple ecosystems, including Polygon, Immutable, Arbitrum, and others, and supports both established and emerging networks.
Within Polygon's plans, Coinme and Sequence are expected to play foundational roles. Coinme is set to provide regulated fiat on- and off-ramps, crypto custody, liquidity, and payment processing that connect cash, debit rails, and digital assets. Sequence will contribute wallet technology and cross-chain orchestration that enables smoother payment flows across networks.
Together, these capabilities are aimed at creating an open, integrated payments stack that allows money to move between traditional finance and blockchain rails while meeting compliance and reliability requirements. Polygon Labs said this could support use cases for banks, fintech companies, merchants, remittance providers, and enterprises seeking to use stablecoins for payments and settlements. Stablecoin-based payments can offer near-instant settlement, lower fees, and reduced reliance on correspondent banking networks.
The Sequence transaction is expected to close later this month, subject to customary closing conditions. The Coinme acquisition is anticipated to close in the second quarter of 2026, pending regulatory approvals. After closing, Coinme will operate as a wholly owned subsidiary of Polygon Labs.
Polygon Labs develops and operates payment-focused blockchain infrastructure on the Polygon Chain and is a core contributor to the broader Polygon ecosystem, including the Agglayer protocol designed to unify liquidity and settlement across multiple chains.
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