Transaction Brings Seattle-Based Coinme’s Licensed Fiat Infrastructure and Compliance Platform to Polygon Open Money Stack
Coinme, a leading U.S.-licensed provider of enterprise stablecoin and crypto payments infrastructure, announced it has entered into a definitive agreement to be acquired by Polygon Labs, a global blockchain infrastructure developer focused on payments. Upon close of the transaction, Coinme will operate as a wholly owned subsidiary of Polygon Labs, subject to customary regulatory approvals.
The transaction positions Coinme as a core component of the Polygon Open Money Stack, an open and integrated payments platform designed to move money seamlessly between traditional financial systems and onchain settlement rails. By combining Coinme’s regulated U.S. payment infrastructure with Polygon Chain’s settlement capabilities, the companies aim to enable compliant, scalable stablecoin payments for banks, fintechs, enterprises, and global platforms.
Coinme’s regulated payment infrastructure and nationwide cash network strengthen the foundation needed to support compliant and scalable onchain payments.”
— Marc Boiron
Coinme’s money transmitter licenses, compliance programs, and enterprise payment APIs provide the regulated access required to connect fiat systems directly to onchain settlement. This integration allows enterprises to embed stablecoin payments into their products while meeting U.S. regulatory and operational requirements.
As part of this transaction, Polygon Labs also announced it will acquire Sequence. Polygon Labs will acquire Coinme and Sequence for over $250M. Together with Polygon Labs, the combined businesses have processed more than $1 billion in offchain sales and more than $2 trillion in onchain value transfers. As stablecoin payment activity increases, the Polygon Chain benefits from higher network fees, while enterprises gain access to faster settlement, reduced reliance on correspondent banking, and predictable payment costs.
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Coinme brings extensive regulated payment capabilities to the Open Money Stack, including money transmitter licenses that support operations in 48 U.S. states, a nationwide fiat on- and offramp network spanning more than 50,000 retail locations, licensed wallet infrastructure, and enterprise APIs and SDKs for crypto and stablecoin services. Coinme supports enterprise partners and more than one million users across its payment applications.
Sequence removes the need for users and developers to manage bridging, swaps, or gas, enabling payments to move across chains in a single, streamlined experience. Together, Coinme and Sequence provide the regulated payment rails, wallet infrastructure, and cross-chain capabilities required to deliver intuitive, compliant stablecoin payment experiences at a global scale.
“From the beginning, Coinme was built to seamlessly integrate the benefits of digital assets with fiat and existing financial institutions,” said Neil Bergquist, co-founder and CEO of Coinme. “Joining Polygon Labs allows us to extend that mission at a global scale by combining our regulated onramps and offramps with the leading payments blockchain to support the inevitable stablecoin-powered future.”
“Stablecoins are increasingly used as settlement for global payments, but the supporting infrastructure remains fragmented,” said Marc Boiron, chief executive officer of Polygon Labs. “Coinme’s regulated payment infrastructure and nationwide cash network strengthen the foundation needed to support compliant and scalable onchain payments.”
Coinme has raised more than $40 million from investors, including Pantera Capital, Digital Currency Group, Coinstar, Circle, and MoneyGram. The company invested early in licensing, compliance, and payments infrastructure, beginning with the launch of the first licensed bitcoin ATM in the United States. In 2024, Coinme surpassed $1 billion in transaction volume.
Following the close of the transaction, expected in the second quarter of 2026 pending regulatory approvals, Coinme will continue operating its regulated exchange, wallet, and Crypto-as-a-Service platform while contributing its licensing, compliance, and payments infrastructure to Polygon Labs’ Open Money Stack.
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