Polygon Completes Coinme Acquisition to Scale Regulated US Payments
The deal brings money transmitter coverage across 48 states to Open Money Stack.
1Coinme Takeover Finalized
Polygon Labs completed its acquisition of Coinme, transforming its Open Money Stack into a fully regulated payments platform across the United States. The transaction follows initial purchase agreements announced in January that combined Coinme and Sequence for over $250 million. The deal moves Polygon beyond pure infrastructure.
2Federal and State Regulatory Scope
Through Coinme, Polygon secured operational coverage across 48 US states. This regulatory footprint includes 37 state money transmitter licenses, 11 state exemptions, and formal registration as a money services business with FinCEN. These legal approvals allow Polygon to link traditional bank rails, cards, and cash directly to onchain transfers.
3Open Money Stack Architecture
The integrated Open Money Stack eliminates the need for enterprises to stitch together disparate payment vendors. Instead, businesses utilize a single stack to move fiat into crypto rails, route stablecoins across networks, and execute real-world payouts. The system incorporates native wallets, on-ramps, and cross-chain settlement to protect stablecoin flows.
4Coinme Retail and User Scale
Coinme brings an established consumer footprint to Polygon, having built a cash-to-cryptocurrency exchange platform serving over one million users. When the deal was first announced, Coinme maintained a physical retail network spanning 50,000 locations. This network facilitates physical cash, debit card, and bank transfer conversions into digital assets.
5Cross-Border Settlement via Tazapay
Cross-border payment provider Tazapay represents one of the initial enterprise adopters deploying Polygon Open Money Stack. Serving over 1,000 businesses and fintechs across more than 30 countries, Tazapay implements Polygon on- and off-ramps to accelerate local currency settlement alongside existing payment networks and SWIFT infrastructure without displacement.
6Global Payroll and Connectivity Partners
Mesh, Toku, and Kira are actively integrating the Open Money Stack into their workflows. Toku utilizes Polygon wallets and payout rails to manage tax compliance and payroll in over 100 countries. Meanwhile, Mesh links OMS on-ramps across more than 300 wallets, exchanges, and integrated financial services.
7Enterprise Banking Rails via Kira
Kira deployed Polygon Open Money Stack to expand institutional stablecoin access and USD conversions across major US settlement rails. The platform supports ACH, Fedwire, FedNow, SWIFT, and digital dollar transfers. Kira notes that client onboarding takes 72 hours, with nine out of ten transactions receiving instant approval.
8Strategic Pivot to Payment Rails
Polygon CEO Marc Boiron positioned this acquisition as a fundamental transition toward becoming a payments-focused blockchain firm. While the merger involved consolidating certain roles at Polygon Labs, the finalized deal establishes compliant on-ramps and off-ramps. Consequently, Polygon positions itself at the critical intersection of traditional and onchain finance.
Original article: CryptoNinjas — Polygon Completes Coinme Acquisition to Scale Regulated US Payments