Coinspeaker
Jan 13, 2026
1 0

Polygon Buys Coinme and Sequence for $250M to Create U.S. Payments Platform

Polygon Labs Acquires Coinme and Sequence for $250 Million

  • Polygon Labs announced the acquisition of Coinme and Sequence for over $250 million.
  • The move aims to build a regulated stablecoin payments platform in the U.S.
  • The acquisitions bring money transmitter licenses across 48 states and access to 50,000 retail locations for cash-to-crypto transactions.

Company Details

  • Coinme, based in Seattle, operates cash-to-crypto kiosks and is backed by Circle, Pantera, and Digital Currency Group.
  • Sequence, based in New York, provides wallet technology for cross-blockchain crypto transfers and is backed by Brevan Howard Digital and Coinbase.

Strategic Context

  • Polygon Foundation's strategy contrasts with Stripe's approach; it already has blockchain infrastructure and is adding financial services.
  • The acquisitions follow the Genius Act stablecoin legislation signed in July 2025.

Regulatory History of Coinme

  • In 2025, Coinme faced penalties from California regulators for exceeding transaction limits at kiosks.
  • Washington issued a temporary cease-and-desist order over unredeemed voucher funds, later stayed after compliance measures.