Deal strengthens Polygon’s $2T+ of onchain volume with at-scale fiat coverage, $1B+ in offchain sales, and battle-tested wallet and cross-chain infrastructure
Polygon Labs today announced definitive agreements to acquire Coinme and Sequence for more than $250 million, delivering three key components of the forthcoming Polygon Open Money Stack, including physical cash and digital fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration through intents.
Polygon’s onchain stablecoin supply reached approximately $3.3 billion at the close of 2025 — a three-year high — according to data compiled on Dune. Together with Polygon, the businesses it will acquire have processed more than $1 billion in offchain sales and more than $2 trillion of onchain value transfers. As payment activity scales, Polygon Chain captures the upside through higher onchain throughput and network fees, directly benefiting stakers and validators.
Coinme, founded in 2014 as one of the first licensed digital currency exchanges in the United States, brings money-transmitter licenses and compliance infrastructure that enable operations in 48 U.S. states; a regulated white label crypto-as-a-service offering for fintechs, enterprises, and payment applications; a physical fiat-to-crypto network spanning more than 50,000 retail locations; licensed wallet infrastructure; and enterprise APIs and SDKs. Backed by investors including Pantera, Digital Currency Group (DCG), Coinstar, Circle and MoneyGram, Coinme serves marquee enterprise customers such as Exodus, Coinstar, Mercuryo, and Baanx, alongside more than one million users of its Coinme payments app. Following the close of the transaction upon obtaining necessary regulatory approvals, Coinme will operate as a wholly owned subsidiary.
Sequence adds smart wallets and a 1-click cross-chain orchestration and intents engine designed to simplify crypto payment flows across networks without requiring users to manage bridging, swaps, or gas. Sequence is backed by leading investors, including Brevan Howard Digital, Initialized Capital, Coinbase, Polychain, Consensys, Take-Two Interactive, Ubisoft, and Bitkraft.
The company provides wallet and application infrastructure across major blockchain ecosystems including Polygon, Immutable, Monad, Magic Eden, and Arbitrum, with support for emerging networks such as SKALE, Etherlink, ApeChain, Soneium, and Somnia, while also collaborating with Google Cloud as a partner and distribution channel. Sequence develops enterprise smart wallets and a cross-chain routing and intents engine that will be used to enable wallet-based payment flows across supported networks.
Trails, powered by Sequence, delivers universal rails for 1-click crypto transactions and payments across any chain, using any token and any wallet. Trails enables blockchains like Katana, prediction markets like Foresight, and supports interoperability and seamless stablecoin payments via Circle’s Cross-Chain Transfer Protocol.
Coinme and Sequence will play foundational roles in building the Open Money Stack, an open and integrated stack of services and technologies to instantly and reliably move money anywhere and put it to work. Together, they bring the core capabilities required on top of Polygon Chain to move money seamlessly between traditional financial systems and onchain rails, while meeting the compliance, reliability, and scale demanded by global payments.
By combining Coinme’s experience operating regulated physical and digital fiat on- and off-ramps, providing crypto custody and liquidity solutions, and offering payment processing services, with Sequence’s battle-tested wallet and cross-chain intents infrastructure, developers can deliver intuitive, compliant Web3 experiences that abstract complexity while supporting cross-chain value flow.
The result is an open and integrated payments platform designed to help banks, fintechs, enterprises, remittance and payout providers, and merchants to tap stablecoin payment growth across both U.S. dollar stablecoins, merchant tokens, and international stablecoins. With the power of borderless 24/7 payments using stablecoins, these enterprises and institutions can offer and receive real-time settlements, reduced correspondent banking exposure, lower fees and predictable pricing.
“Stablecoins are increasingly being used as a settlement layer for global payments, but the infrastructure around them remains fragmented,” said Marc Boiron, chief executive officer of Polygon Labs. “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.”
“We aspire Polygon to be the biggest stablecoin money movement avenue in the world,” added Sandeep Nailwal, founder of the Polygon Foundation. “Our mission is to move all money onchain and rebuild how money works so it is instant, reliable, programmable, and open. As stablecoins become a core payment primitive, Polygon Labs is focused on building the middleware that allows payments to come onchain and move at global scale. With the Open Money Stack, we have a clear path to support developers, businesses, and users as trillions of dollars flow onchain, while keeping the network open and interoperable.”
The Sequence transaction is expected to close this month, and the Coinme transaction is expected to close in Q2 2026, subject to customary regulatory approvals and closing conditions.
