Polygon CEO explains strategy behind $250M acquisition of Coinme, Sequence

Polygon Labs announced on Jan. 13 that it has entered definitive agreements to acquire crypto payment firm Coinme and wallet infrastructure provider Sequence.

The dual acquisition is worth more than $250 million.

The plan aims to deliver three pillars of the forthcoming Polygon Open Money Stack, namely physical and digital fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration through intents.

Polygon Labs is a blockchain technology company that develops and maintains Polygon, an Ethereum -scaling ecosystem designed to make blockchain transactions faster, cheaper, and more efficient.

Related: Stablecoin adoption accelerates as businesses embrace real-time transactions

What is Open Money Stack by Polygon?

Polygon's Open Money Stack delivers an open, integrated payments stack that enables banks, fintechs, enterprises, remittance and payout providers, and merchants to work with both U.S.-based dollar stablecoins and merchant-issued tokens, and international stablecoins.

"The general idea behind the Open Money Stack is to provide one open and integrated solution that allows anyone to move money around the world and then use that money," Polygon CEO Marc Boiron told during an exclusive interview with TheStreet Roundtable.

To put it simply, it is an open and integrated stack of services and technologies to instantly and reliably move money anywhere and put it to work.

Polygon Foundation founder Sandeep Nailwal said:

"We aspire Polygon to be the biggest stablecoin money movement avenue in the world."

Together with Polygon, the businesses have processed over $1 billion in off-chain sales and facilitated more than $2 trillion in on-chain value transfers. 

Coinme and Sequence bring dual advantage to Open Stack

Founded in 2014, Coinme is a cryptocurrency infrastructure company that provides both consumer-facing services and enterprise Crypto-as-a-Service solutions.

It operates a fiat-to-crypto network spanning over 50,000 retail locations and holds money-transmitter licenses in 48 U.S. states. Coinme was also one of the first licensed digital currency exchanges in the United States. 

The company recently experienced regulatory issues with the Washington State Department of Financial Institutions. In November 2025, Coinme was asked to halt business over unclaimed customer vouchers. 

However, the company announced on Dec. 30, 2025, that it reached an agreement to resume full operations in Washington.

Following the acquisition, Coinme will become a wholly owned subsidiary of Polygon Labs after obtaining necessary regulatory approvals in the second quarter of 2026.