Polygon Labs Buys Crypto Firms Coinme, Sequence For Over $250M
Overview
Polygon Labs is acquiring U.S. crypto platforms Coinme and Sequence for more than $250 million. The move aims to bolster its payments infrastructure and regulated stablecoin offerings in the United States. Coinme brings fiat-to-crypto capabilities and extensive licenses, while Sequence adds wallet and interoperability tools.
Strategic Acquisition Targets US Payments
Polygon Labs has agreed to acquire U.S.-based cryptocurrency platforms Coinme and Sequence for over $250 million. This strategic move signals a sharpened focus on payment solutions and regulated stablecoin adoption within the United States. Sources familiar with the matter indicate the transaction is predominantly an all-cash deal, with a minor equity component tied to the Sequence acquisition. Polygon is concurrently finalizing the necessary entity structures and licenses to operate payment and wallet infrastructure in the U.S.
Polygon Eyes Real-World Utility Beyond Blockchain Costs
The acquisitions mark a departure from Polygon's prior positioning as solely a low-cost blockchain. As transaction fees decrease across various networks, Polygon is prioritizing real-world utility, specifically targeting transaction volumes and revenue generation through payments. This pivot leverages the unique strengths of the acquired entities to drive tangible adoption.
Coinme, Sequence Bring Fiat Rails and User Tools
Coinme introduces robust, regulated fiat infrastructure. Established in 2014, the company operates across 48 U.S. states with money transmitter licenses, managing a fiat-to-crypto network through over 50,000 retail locations. It claims to have processed more than $1 billion in off-chain sales for over a million users, offering wallets, custody services, APIs, and on- and off-ramps. Sequence contributes essential wallet and interoperability tools, simplifying cross-blockchain crypto payments for users and businesses without the need for complex bridges or gas fee management.
Deal Closes Amid Regulatory Scrutiny
Together, Coinme and Sequence have facilitated over $2 trillion in on-chain value transfers. The integrated platform is set to offer a unified solution featuring wallets, stablecoins on Polygon, cross-chain compatibility, and licensed fiat on- and off-ramps. The Sequence transaction is anticipated to conclude by the end of this month. The Coinme acquisition is expected in the second quarter of 2026, pending regulatory approval. Polygon reported its on-chain stablecoin supply stood at approximately $3.3 billion at the close of 2025, a three-year high. This acquisition occurs amid increasing compliance mandates for crypto platforms globally, such as recent tightening of KYC norms by India's Financial Intelligence Unit.
