Polygon Labs is spending $250M to acquire Coinme and Sequence, bringing licensed fiat on/off-ramps, wallet infrastructure, and cross-chain orchestration in-house to power its Open Money Stack and pivot fully toward blockchain-based global payments.

Polygon Labs has signed definitive agreements to acquire U.S. payments firm Coinme and wallet/payments infrastructure provider Sequence in deals valued at more than $250 million, in a move to vertically integrate core payments infrastructure and pivot its business toward regulated, stablecoin-based global money movement. The transactions will bring licensed fiat on/off-ramps, enterprise-grade smart wallet tooling, and cross-chain payment orchestration directly under Polygon Labs, forming the foundation of its planned Open Money Stack, an integrated stack for blockchain-based payments. According to Polygon Labs’ announcement and related deal disclosures, Coinme will contribute U.S.-licensed fiat access, including physical cash and digital on- and off-ramps plus a user base of more than one million customers, while Sequence will provide smart wallet infrastructure and a cross-chain routing engine that enables one-click, intent-based transactions across multiple blockchains. Together with Polygon’s existing network, which the company says has processed more than $2 trillion in value transfers, the acquisitions are intended to let enterprises, fintechs, and institutions build compliant stablecoin payment flows on Polygon or other chains while abstracting away most of the underlying crypto complexity. Strategically, the move marks a shift for Polygon Labs from being primarily a blockchain infrastructure provider to operating as a revenue-generating payments company offering a vertically integrated platform for regulated stablecoin payments in the U.S. and globally. The Open Money Stack concept positions Polygon as a kind of blockchain-native payments rail: combining licensing, fiat connectivity, wallets, and cross-chain orchestration under one umbrella, at a time when many crypto networks are trying to compete directly with traditional payment systems and neobank-style platforms for real-world payments and remittances. The Sequence deal is expected to close first, followed by Coinme in Q2 2026, subject to customary regulatory approvals and closing conditions.

✨ AI-generated background, compiled from web sources — not editorial content.

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