Polygon Labs acquires Coinme and Sequence for $250 million to build a regulated stablecoin platform

Source: Yellow Original Title: Polygon Labs acquires Coinme and Sequence for $250 million to build a regulated stablecoin platform

Original Link: Ethereum (ETH), the scaling network Polygon Labs, announced on Tuesday that it has entered into definitive agreements to acquire cryptocurrency exchange Coinme and wallet provider Sequence for over $250 million, as it moves toward regulated payments with stablecoins.

The acquisitions represent a strategic shift from a blockchain infrastructure focused on tokens to a revenue-generating payments business, with Polygon Labs aiming for more than $100 million in annual revenue from transaction fees.

The deals will bring key components of Polygon’s Open Money Stack: regulated fiat on- and off-ramps, enterprise wallet infrastructure, and cross-chain payment orchestration via a single API.

Licensed Infrastructure

Founded in 2014 as one of the first licensed digital currency exchanges in the United States, Coinme operates in 48 states under registered money transmitter licenses with FinCEN.

Headquartered in Seattle, the company offers access to cryptocurrencies at over 50,000 locations nationwide through partnerships with Coinstar kiosks, MoneyGram, ReadyCode ATMs, and retail payment counters.

Coinme serves over one million retail users and provides white-label cryptocurrency platforms for fintech companies and corporations.

Sequence, based in New York, provides smart wallet technology and its Trails platform, which enables one-click cross-chain transactions without requiring users to manage bridges, swaps, or gas fees.

Sequence reports transaction conversion rates twice that of standard wallets and has processed over 10 million transactions since launching Trails two months ago.

Revenue Strategy

“Our goal is to become a regulated payments player in the U.S.,” Polygon Labs CEO Marc Boiron told Reuters.

The acquisitions mark a departure from Polygon’s historical reliance on external partners to drive network activity, as revenue is now generated through basis points on transactions rather than solely on POL token appreciation.

Together, Polygon, Coinme, and Sequence have processed over $1 billion in off-chain sales and more than $2 trillion in on-chain value transfers.

Market Positioning

The strategy positions Polygon in direct competition with payments giant Stripe, which has acquired several stablecoin and blockchain infrastructure companies over the past year.

Polygon co-founder Sandeep Nailwal described the approach as a “reverse Stripe,” where the company acquires infrastructure providers before developing blockchain capabilities.

The acquisitions come as stablecoins gain traction following the approval of the GENIUS law in the U.S. in 2025, which established federal frameworks for payment stablecoins.

The Sequence deal is expected to close this month, subject to regulatory approval, while Coinme will operate as a wholly owned subsidiary after the expected closure in Q2 2026.