Polygon Labs Acquires Coinme and Sequence for $250 Million
- Polygon Labs has signed agreements to acquire Coinme and Sequence for over $250 million.
- Coinme operates in all U.S. states with a network of over 50,000 retail locations.
- Sequence provides wallet infrastructure supporting multiple networks including Polygon and Arbitrum.
- The acquisition aims to enhance compliant stablecoin payments on a global scale.
- The Sequence deal is expected to close this month, while Coinme’s acquisition is set for Q2 of next year.
This strategic move by Polygon Labs aims to build the Polygon Open Money Stack, facilitating compliant stablecoin payments worldwide. With over $1 billion in off-chain sales processed alongside more than $2 trillion in on-chain value transfers, the acquisitions position Polygon as a significant player in the crypto payment landscape.
The combined expertise of Coinme and Sequence will bolster Polygon’s capabilities in the digital asset space significantly. This acquisition reflects Polygon’s commitment to expanding its influence within the U.S. market. (Source)
