Polygon Labs CEO Marc Boiron told Cointelegraph that the acquisitions position the network as a regulated payments platform built to move stablecoins onchain at scale.
Polygon Labs has agreed to acquire US-based crypto payments company Coinme and wallet infrastructure provider Sequence in deals valued at more than $250 million, Fortune reported on Monday.
The acquisitions give the Ethereum scaling blockchain access to Coinme’s network of US money-transmitter licenses and fiat on- and off-ramps, alongside Sequence’s embedded wallets and cross-chain payments tools for banks, fintechs and enterprises.
According to an X post from Polygon, the two companies will help form the foundation of what it calls the “Polygon Open Money Stack,” combining blockchain rails, regulated money movement and wallet infrastructure into a single platform designed for onchain payments.
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