TLDR
- Polygon Labs has acquired Coinme and Sequence for over $250 million to strengthen its position in the crypto payments sector.
- Coinme provides crypto ATMs and cash-to-crypto services, while Sequence specializes in blockchain infrastructure and smart wallet technology.
- The acquisitions come shortly after Polygon launched its Open Money Stack system to enhance stablecoin transactions.
- Polygon Labs aims to compete directly with Stripe, which has been actively investing in stablecoin infrastructure.
- The acquisitions will allow Polygon to offer smoother crypto transactions and attract partnerships with major payment networks like Visa and Mastercard.
Polygon Labs has made two major acquisitions, spending over $250 million to strengthen its position in the crypto payments industry. The company acquired Coinme, a provider of crypto ATMs and cash-to-crypto services, and Sequence, a blockchain infrastructure firm.
These moves come just days after Polygon launched its Open Money Stack system to streamline stablecoin transactions. This strategic expansion positions Polygon as a competitor to Stripe, which has been actively building its own stablecoin infrastructure.
Polygon Labs Acquires Coinme and Sequence
Polygon Labs has acquired Coinme, a company founded in 2014 that offers crypto ATMs and cash-to-crypto services. Coinme’s integration into Polygon’s ecosystem brings essential money-transmitter licenses and compliance infrastructure, allowing operations in 48 states. Coinme also adds a layer of experience in the regulated crypto space, which enhances Polygon’s ability to operate at a broader scale.
Sequence, the second startup Polygon acquired, specializes in blockchain infrastructure, specifically in smart wallet technology. The tools developed by Sequence simplify crypto payment flows across various networks without requiring complex technical steps. This acquisition enables Polygon to offer smoother, more efficient crypto transactions for its users, making crypto payments more accessible and user-friendly.
Strengthening its Position Against Stripe
Polygon Labs’ acquisitions are a direct challenge to Stripe’s growing presence in the stablecoin and crypto payments sector. Stripe has been actively investing in crypto technology, having acquired Bridge for $1.1 billion in 2024. The launch of Stripe’s Open Issuance platform in 2025 allowed businesses to easily create and manage their own stablecoins, positioning Stripe as a significant player in the space.
In response, Polygon aims to leverage its newly acquired assets to offer similar services. Polygon already operates a robust network of blockchains built on Ethereum, providing a solid foundation for these new ventures. With Coinme and Sequence, Polygon is better positioned to compete directly with Stripe’s offerings and attract partnerships with payment networks like Visa and Mastercard.
Polygon Labs’ recent moves are part of a broader effort to tap into the fast-growing stablecoin market, which Visa and Mastercard have already entered. As of late 2025, Visa reported over $3.5 billion in stablecoin settlement volume. Visa and Mastercard’s continued push into stablecoins signals that this market could see massive growth, with projections reaching up to $4 trillion by 2030.
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