Polygon Labs to acquire Coinme and Sequence for over $250 million to expand US stablecoin payments

Polygon Labs has signed definitive agreements to acquire US based digital currency payments firm Coinme and wallet infrastructure provider Sequence for more than $250 million, a move aimed at accelerating its expansion into regulated stablecoin payments and building what it calls the Polygon Open Money Stack.The acquisitions bring together regulated fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration capabilities that are three critical components of Polygon’s strategy to enable stablecoin payments at global scale. Combined, Polygon, Coinme, and Sequence have already processed more than US$ 1 billion in offchain sales and facilitated over US$ 2 trillion in onchain value transfers.As payment activity grows, Polygon said increased throughput and network fees on the Polygon Chain would directly benefit stakers and validators. It will soon have the ability to do regulated stablecoin business in 48 states. Polygon’s onchain stablecoin supply stood at approximately US$ 3.3 billion at the close of 2025, a three-year high, according to data compiled on Dune.Founded in 2014, Coinme is one of the earliest licensed digital currency exchanges in the United States. The company operates with money-transmitter licenses in 48 US states and runs a nationwide physical fiat-to-crypto network across more than 50,000 retail locations. Coinme also offers regulated crypto-as-a-service solutions, licensed wallet infrastructure, and enterprise APIs and SDKs. Backed by investors including Pantera, Digital Currency Group, Coinstar, Circle, and MoneyGram, Coinme serves enterprise clients such as Exodus, Coinstar, Mercuryo, and Baanx, alongside more than one million users of its payments app. Following regulatory approvals, Coinme will operate as a wholly owned subsidiary of Polygon Labs.Sequence, founded in 2017, brings smart wallets and a one-click cross-chain orchestration and intents engine designed to simplify crypto payments without requiring users to manage gas, swaps, or bridging. The company is backed by investors including Brevan Howard Digital, Initialized Capital, Coinbase, Polychain, Consensys, Take-Two Interactive, Ubisoft, and Bitkraft. Its infrastructure supports major blockchain ecosystems such as Polygon, Immutable, Arbitrum, and Magic Eden, with additional support for emerging networks. Sequence also collaborates with Google Cloud as a partner and distribution channel.Trails, powered by Sequence, provides universal rails for one-click crypto transactions across chains, tokens, and wallets, enabling interoperability and stablecoin payments via Circle’s Cross-Chain Transfer Protocol.“These acquisitions give us regulated access to U.S. payment rails, wallet infrastructure, and cross-chain intents capabilities to build an open payments business on top of onchain settlement,” said Marc Boiron, chief executive officer of Polygon Labs, noting that stablecoins are increasingly being used as a settlement layer for global payments.Polygon Foundation founder Sandeep Nailwal said the company aims to become “the biggest stablecoin money movement avenue in the world,” adding, “Our mission is to move all money onchain and rebuild how money works so it is instant, reliable, programmable, and open.”Neil Bergquist, CEO of Coinme, said the deal would help unify fragmented stablecoin infrastructure. “By combining Coinme's regulated payment access with Polygon's settlement layer, we're building the vertically integrated stack the market needs,” he said.Sequence co-founder and CEO Peter Kieltyka added that simplifying onboarding and cross-chain payments would help overcome barriers to mainstream adoption.The Sequence transaction is expected to close this month, while the Coinme acquisition is expected to close in the second quarter of 2026, subject to customary regulatory approvals.