Polygon Labs has agreed to acquire Coinme and Sequence for more than $250 million, signaling a shift from a pure network provider to a full payment infrastructure operator. Executives say the moves support its stablecoin strategy as banks, processors, and tech firms pursue regulated, real-world payments through crypto. Together, Coinme and Sequence cover regulated onboarding and user-facing tools, bringing Polygon closer to a complete payment stack.
Coinme brings licensed cash-to-crypto bridges and money transmitter licenses across the United States, a footprint that matters for regulated payments more than its ATM presence. Sequence supplies wallet technology and developer infrastructure, giving Polygon influence over how stablecoins are stored, authorized, and integrated into services. With the acquisitions, Polygon already runs the network layer, and these pieces move it toward onboarding, custody, settlement, and reporting. The Stripe comparison signals a larger rivalry: Stripe built end-to-end payments infrastructure and Polygon is following a similar path by integrating regulated fiat rails around its blockchain.
Regulatory acceptance remains central to stablecoin adoption, with authorities scrutinizing compliance, reporting standards, and governance. Coinme’s regulatory history underscores the governance challenge, while wallet infrastructure adds cybersecurity responsibilities as real money flows move through Polygon’s stack. The move signals a broader shift in crypto toward financial utility and toward serving institutional clients with reliable, regulated payment tools. Infrastructure ownership brings higher operating costs but also potential competitive advantage if executed well, as fintechs and banks increasingly demand integrated payment capabilities.
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