Polygon Labs Acquires Coinme and Sequence for $250M in Stablecoin Payments Push

Polygon Labs has made a significant move into the stablecoin and payments sector by acquiring two cryptocurrency companies, Coinme and Sequence. This strategic acquisition positions the blockchain developer to compete with fintech giants like Stripe in creating seamless, regulated digital money ecosystems.

By leveraging Coinme’s expertise in cash-to-crypto transactions and Sequence’s wallet infrastructure, Polygon aims to integrate on-chain settlements with real-world finance. These acquisitions highlight the growing excitement around stablecoins, especially in light of new U.S. regulations, which promise to facilitate faster global transactions.

Polygon Labs Splashes $250M in Acquisition Deal

Polygon Labs’ latest acquisition is the company’s largest expansion to date. The company added Coinme, founded in 2014, which operates one of the largest networks of Bitcoin ATMs and cash-to-crypto kiosks in the United States. Coinme holds money transmitter licenses in 48 states. 

The company helps people buy and sell cryptocurrencies through its partnerships with Coinstar and MoneyGram. These partnerships provide essential ways for users to enter and exit the market, supporting wider adoption.

Additionally, Sequence, formerly known as Horizon Blockchain Games, offers advanced tools such as smart wallets, one-click cross-chain payments, and the Trails platform. The platform streamlines transactions by removing the need for bridges, swaps, and gas fees.

Meanwhile, both deals are still pending regulatory approval. The acquisition of Sequence is expected to close soon, while Coinme’s deal is anticipated to be finalized in the second quarter of 2026.

Polygon Labs’ Strategic Vision

Polygon co-founder Sandeep Nailwal described the strategy as “a reverse Stripe.”This means they are leveraging existing blockchain technology to add payment layers, unlike Stripe, which has been acquiring crypto firms. While Stripe has purchased stablecoin and wallet companies and launched its own payments-focused blockchain to maintain control of its operations, Polygon is taking a different approach. 

The company has hired John Egan, Stripe’s former head of crypto, as its chief product officer, allowing it to compete directly in the regulated fintech space. This initiative supports new laws like the Genius Act, which aim to create stablecoins that are tied to the dollar for sending money and moving assets. 

Additionally, the recent acquisitions show how blockchain technology is growing and integrating with traditional financial systems. Experts believe this move will speed up the mainstream adoption of these technologies, with Polygon handling billions in transactions. As it moves forward, Polygon may form more partnerships, competing with banks and tech companies in the digital payments space.

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