Polygon Labs to acquire crypto firms Coinme, Sequence for over $250 million to expand into US stablecoin payments

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• Polygon Labs to acquire Coinme and Sequence for over $250 million
• Polygon's acquisitions enhance stablecoin payments and fiat-to-crypto services
• Sequence deal closes this month; Coinme deal expected Q2 2026 pending approval

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Polygon Labs on January 13 announced definitive agreements to acquire US-based digital currency payments firm Coinme and wallet infrastructure provider Sequence for more than $250 million, as it plans to strengthen its presence in licensed stablecoin payments and fiat-to-crypto infrastructure in the United States.

These acquisitions will be a part of Polygon Open Money Stack, bringing physical cash, digital fiat on- and off-ramps, wallet infrastructure and cross-chain payment orchestration to the Polygon ecosystem.

Together with Polygon, the entities have processed over $1 billion in offchain sales and more than $2 trillion in onchain value transfers.

The Sequence transaction is expected to close this month, and the Coinme transaction is expected to close in Q2 2026, subject to customary regulatory approvals and closing conditions.

What the company leaders said?

“Stablecoins are increasingly being used as a settlement layer for global payments, but the infrastructure around them remains fragmented,” said Marc Boiron, chief executive officer of Polygon Labs.

“These acquisitions give us regulated access to U.S. payment rails, wallet infrastructure, and cross-chain intents capabilities to build an open payments business on top of onchain settlement,” he added.

Sandeep Nailwal, founder of Polygon Foundation aspires to make Polygon the biggest stablecoin “money movement avenue” in the world.

“Our mission is to move all money onchain and rebuild how money works so it is instant, reliable, programmable, and open…With the Open Money Stack, we have a clear path to support developers, businesses, and users as trillions of dollars flow onchain, while keeping the network open and interoperable,” he said.

Interestingly, India being the world’s largest recipient of remittances will be on the radar to expand stablecoin use cases.

"With the Coinme and Sequence stack announcement, we are now getting into regulated businesses, and since most of the volume is in USD, that is a natural start point, and as we go down the line, we will be expanding and adding more jurisdictions including India, as it is one of the biggest inward remittance corridor for us," Aishwary Gupta, Global Head of Payments at Polygon Labs told Moneycontrol.

What does Coinme and Sequence do?

Coinme, founded in 2014, operates under money-transmitter licences in 48 US states and runs a physical fiat-to-crypto network across more than 50,000 retail locations. The company provides regulated crypto-as-a-service offerings, licensed wallet infrastructure and enterprise APIs to fintechs and enterprises, and counts Coinstar, Exodus, Mercuryo and Baanx among its customers.

Coinme will continue to operate as a wholly owned subsidiary after the transaction closes, subject to regulatory approvals, which are expected in the second quarter of 2026.

Sequence adds smart wallet technology and a cross-chain routing and “intents” engine that enables users to make payments across multiple blockchains without managing bridges, swaps or gas fees. Backed by investors including Coinbase, Polychain, Brevan Howard Digital and Consensys, Sequence supports blockchain ecosystems such as Polygon, Arbitrum, Immutable and Magic Eden.

The Sequence acquisition is expected to close later this month.

Polygon said the acquisitions will form the backbone of its Open Money Stack, an integrated payments platform designed to connect traditional financial systems with onchain settlement while meeting compliance and enterprise-scale requirements.