Polygon Labs is acquiring Coinme and Sequence in deals valued at over $250 million, gaining access to Coinme’s US money-transmitter licenses and Sequence’s wallet infrastructure. The acquisitions will form the basis of the “Polygon Open Money Stack” for onchain payments. The move comes as competition around stablecoin payments infrastructure in the US intensifies.

The setup combines Coinme’s state-level licensing across 48 states with wallet infrastructure for transactions across multiple blockchains. Coinme operates over 50,000 cash-to-crypto kiosks and ATMs in the US. Sequence’s inclusion aims to reduce user friction through embedded wallets and cross-chain transaction tools.

Payments companies in the US are racing to support stablecoins following the passage of the GENIUS Act in 2025. Companies like Stripe and Tempo are developing blockchain solutions to handle tokenized dollars at scale. PayPal has expanded its stablecoin reach, while YouTube now allows creators to receive payouts in PayPal USD. Visa and Mastercard are also positioning themselves around stablecoins.

Polygon Labs CEO Marc Boiron stated that the acquisitions will help the network become a regulated payments platform, offering a fully integrated stack for stablecoin payments. The exact amount paid for each acquisition and the payment methods used were not disclosed. The focus remains on supporting enterprises experimenting with blockchain applications as adoption evolves.

Read more at Cointelegraph: Polygon Strikes $250M Coinme, Sequence Deal To Expand US Payments