Details
- Polygon Labs signed definitive agreements on January 13, 2026, to acquire Coinme and Sequence for over $250 million, forming the Open Money Stack for regulated stablecoin payments on Polygon blockchain rails.
- Involved parties include Polygon Labs, Seattle-based Coinme (licensed U.S. fiat ramps, 1M+ users, 50,000 retail locations), and New York-based Sequence (enterprise wallets, Trails cross-chain engine); backers like Pantera, DCG, Coinbase, and Brevan Howard.
- New features combine Coinme's U.S. money transmitter licenses in 48 states with Sequence's 1-click cross-chain orchestration, enabling seamless fiat on/off-ramps, wallets, and stablecoin settlement in seconds without bridges or gas complexity.
- Builds on Polygon's $2.2T onchain volume and integrations with Stripe, Revolut; Sequence closure expected this month, Coinme in Q2 2026 pending approvals; contrasts with Stripe's recent stablecoin acquisitions.
- Acquisitions add $1B offchain sales and $2T onchain volume; positions Polygon for $100M+ annual revenue via payment flows, targeting institutions unlike fragmented competitors.
Impact
These deals position Polygon as a vertically integrated payments leader, bridging regulated fiat and onchain stablecoins to rival Stripe's stack amid surging stablecoin adoption. With proven scale and compliance, it accelerates mainstream enterprise use, reducing fragmentation and enabling instant global settlement. This pivot to revenue-generating infrastructure signals Web3's maturation toward neobank models.
