Polygon Secures Over $250M in Coinme and Sequence Acquisitions to Enhance Stablecoin Payments
Polygon Labs has announced the acquisition of the crypto payment firm Coinme and the wallet infrastructure provider Sequence in a major strategic move aimed at boosting its stablecoin payment capabilities.
Polygon Labs has successfully negotiated acquisitions of Coinme, a US-based cryptocurrency payment service, and Sequence, a wallet infrastructure provider. The total valuation for these transactions exceeds $250 million, according to a report by Fortune.
These acquisitions are poised to enhance Polygon’s role as a regulated platform for stablecoin transactions by providing access to Coinme’s extensive licensing network and Sequence’s wallet solutions designed for banks and fintech companies.
In a recent discussion on Cointelegraph’s “Chain Reaction” podcast, Marc Boiron explained that this strategic move aims to solidify Polygon’s place in the industry as a comprehensive payments ecosystem:
“Ultimately, we become a regulated payments platform. And our goal here is to offer one fully, vertically integrated stack that can allow anyone to use stablecoins to move money anywhere.”
With these integrations, Polygon will leverage Coinme’s numerous retail cash-to-crypto kiosks and ATMs while also offering cross-chain capabilities through Sequence’s technology. This approach aligns with Polygon’s vision of simplifying payments and reducing barriers for users through its Trails orchestration layer.
As competition heats up in the stablecoin market, these developments highlight Polygon’s commitment to driving the adoption of digital currencies across various industries.
