Polygon Labs Acquires Coinme, Sequence for Over $250M

Polygon Labs, the development firm behind the Ethereum layer-2 scaling network, announced on January 13, 2026, that it has agreed to acquire crypto payments company Coinme and wallet infrastructure provider Sequence for more than $250 million. The deals, subject to regulatory approvals, aim to position Polygon as a major player in regulated stablecoin payments and onchain money movement in the United States.

The acquisitions will form the foundation of Polygon's Open Money Stack, a platform set to launch in 2026 that enables stablecoin-based transactions across multiple blockchains. This framework combines regulated fiat conversions, wallet technology, and high-throughput blockchain settlement to simplify cross-border payments and integrate traditional finance with digital assets. Stablecoins, digital tokens pegged to assets like the U.S. dollar, have seen increased demand since the passage of the Genesis Act by Congress in 2025, which clarified regulations and spurred institutional adoption.

Coinme, founded in 2014 as one of the earliest bitcoin ATM operators, brings a network of over 50,000 retail locations for cash-to-crypto conversions and money transmitter licenses in 48...