Polygon Acquires Coinme and Sequence for $250M to Strengthen Stablecoin Payments Infrastructure

Polygon Labs has announced the acquisition of two U.S. firms, Coinme and Sequence, in a combined deal valued at more than $250 million. The move is part of its strategy to expand its presence in the stablecoin payments market by integrating regulated fiat on- and off-ramps, wallet infrastructure, and cross-chain transaction capabilities according to reports. Polygon CEO Marc Boiron emphasized the company's goal to become a regulated U.S. payments platform, leveraging stablecoins for seamless value transfers.

Coinme, a licensed crypto payments company, operates over 50,000 retail kiosks in the U.S. and provides access to state-level money transmitter licenses and compliance infrastructure. Sequence brings cross-chain orchestration tools and embedded wallet technology to the mix, enabling simplified transactions across multiple blockchains. The acquisitions will form the foundation of the Polygon Open Money Stack, a modular framework aimed at streamlining global money movement.

The Open Money Stack combines blockchain rails, regulated money movement, and wallet infrastructure into a single platform designed for onchain payments. The platform will allow businesses to move money using stablecoins with minimal friction and regulatory compliance.

Why Did This Happen?

Stablecoins are increasingly becoming a preferred medium for payments and settlements, particularly after the passage of the Genius Act in July 2025. However, the infrastructure to support these transactions remains fragmented, and Polygon aims to consolidate key components in-house to address this gap. By acquiring Coinme and Sequence, Polygon can offer a fully integrated payments stack that supports real-time, low-cost cross-border transactions.

Polygon's CEO Marc Boiron stated that the initial focus will be on B2B payments before expanding to consumer services. This approach aligns with the broader trend of enterprises exploring blockchain for scalable, compliant financial solutions.

How Did Markets React?

The stablecoin payments landscape has seen increased competition in recent months, with players like Stripe, PayPal, and Visa expanding their own offerings. Stripe unveiled its Tempo blockchain in September 2025 and secured $500 million in funding at a $5 billion valuation. PayPal has also expanded its stablecoin support beyond Ethereum to Solana and now enables YouTube creators to receive payouts in PayPal USD.

Polygon's announcement comes amid rising interest in onchain money movement. For example, in December 2025, Rain, a U.S.-based stablecoin infrastructure provider, raised $250 million in a Series C round led by ICONIQ, valuing the company at $1.95 billion. This suggests growing institutional confidence in the potential of tokenized money.

What Are Analysts Watching Next?

Analysts are closely watching whether Polygon's strategy will succeed in differentiating itself from established players like Visa and Mastercard. Boiron emphasized that Polygon does not see these companies as direct competitors but as potential collaborators. The CEO noted that the market is still evolving, and the goal is to work alongside traditional players to grow the overall market.

The Open Money Stack is expected to launch later in 2026, with pilot programs planned for the year. If successful, the platform could redefine how money is transferred and settled globally, particularly for businesses seeking fast, low-cost, and compliant payment solutions.

Polygon's move reflects a broader shift in the financial technology sector, where stablecoins are increasingly being used as a settlement layer. With over $3.3 billion in stablecoin supply on the Polygon network as of late 2025, the platform is already positioned to benefit from this trend.

Investors are evaluating whether the Open Money Stack can provide a sustainable edge in a competitive market. The success of this initiative may depend on factors such as regulatory adoption, enterprise integration, and user adoption of the platform's tools.