Polygon Labs has announced agreements to acquire two U.S.-based cryptocurrency companies, Coinme and Sequence. The move aims to strengthen the firm's capabilities in stablecoin-based payments.
The acquisitions will support Polygon's Open Money Stack, a framework scheduled for launch in 2026. This stack is intended to facilitate stablecoin payments across multiple blockchains.
Coinme, founded in 2014, operates a regulated digital currency payments business. It allows users to convert cash into cryptocurrency. The company holds money-transmitter licenses in 48 U.S. states.
Coinme manages a network of more than 50,000 locations where people can exchange cash for crypto, including kiosks and ATMs across the United States. Its crypto-as-a-service platform is used by fintech firms and enterprise clients. Subject to standard regulatory approvals, Coinme will become a wholly owned subsidiary of Polygon Labs. The company serves over one million users of its consumer payments app.
Coinme's backers include Pantera, Digital Currency Group, Coinstar, Circle Ventures, and MoneyGram.
Sequence provides technology designed to simplify cryptocurrency transfers across multiple blockchains. Polygon stated that Sequence "complements and accelerates" its interoperability efforts, including Agglayer's aim "to unify all of crypto," while keeping the focus on making payments feel "simple and reliable."
Sequence's offering includes enterprise-grade smart wallets and Trails, described as "a 1-click cross-chain routing and intents engine." It also provides infrastructure that hides bridging, swaps, and gas from end users. This setup allows applications to move stablecoins between networks without exposing users or payments teams to underlying blockchain complexity.
Sequence and Trails are already deployed by global platforms and enterprises. Investors in Sequence include Brevan Howard Digital, Initialized Capital, Coinbase, Polychain, Consensys, Take-Two Interactive, Ubisoft, and Bitkraft.
Its infrastructure is in use across blockchain ecosystems such as Polygon, Immutable, Monad, Arbitrum, and Magic Eden, as well as newer networks including SKALE, Etherlink, ApeChain, Soneium, and Somnia.
Polygon said that, once integrated into its stack, Sequence and Trails will act as an orchestration layer that moves money to its destination in the background, so users do not need to understand how funds traverse different chains.