Polygon Labs Accelerates Stablecoin Strategy with $250M+ Crypto Acquisitions: Coinme and Sequence

Polygon Labs, the core development team behind the Polygon ecosystem—one of Ethereum’s leading Layer-2 scaling solutions—has acquired two crypto-native startups, Coinme and Sequence, in a combined transaction exceeding $250 million.

(Sources: X)

The strategic moves significantly strengthen Polygon’s stablecoin strategy and payments ambitions, positioning the company as a direct on-chain competitor to traditional fintech giants like Stripe.

This analyst insight explores the rationale behind Polygon Labs’ crypto acquisitions, the specific capabilities added by Coinme and Sequence, the broader stablecoin strategy context, competitive positioning, and what this means for Polygon’s role in bridging decentralized finance with real-world payments as of January 13, 2026.

Deal Overview: Coinme and Sequence Acquired for $250M+

Polygon Labs confirmed the acquisitions of:

• Coinme — Seattle-based crypto ATM operator and fiat-to-crypto on-ramp specialist with one of the largest U.S. crypto ATM networks and extensive state-level money transmitter licenses.
• Sequence — New York-based provider of modular wallet infrastructure, embedded wallet SDKs, and developer tools that power seamless on-chain user experiences.

The combined deal value surpasses $250 million, though Polygon Labs has not disclosed the individual breakdown or whether consideration was paid in cash, equity, tokens, or a mix.

CEO Marc Boiron and Polygon Foundation co-founder Sandeep Nailwal described the acquisitions as a deliberate step to “own more of the payments stack—from fiat entry points to on-chain custody and execution.”

• Coinme Contribution: Battle-tested U.S. compliance licenses and fiat-to-crypto conversion expertise.
• Sequence Contribution: Advanced wallet and developer tooling for smooth onboarding and transaction flows.
• Strategic Framing: “Reverse Stripe” play — Polygon already has the high-throughput chain; now filling in fiat ramps and wallet layers.

Stablecoin Strategy: Building a Full-Stack On-Chain Payments Layer

The acquisitions form a key pillar of Polygon’s stablecoin strategy, which has accelerated significantly in 2025–2026:

• RLUSD Expansion: Ripple’s USD stablecoin (RLUSD) has deployed across multiple Polygon-supported Layer-2 networks.
• Institutional Focus: Targeting corporate treasury, cross-border payments, and settlement use cases.
• Regulatory Positioning: Recent OCC trust bank charter application (via affiliated entity) aims to bring USD1/RLUSD issuance, custody, and conversion under federal supervision.
• Payments Leadership: Hiring of Stripe’s former head of crypto, John Egan, to lead payments expansion.

Nailwal explicitly framed the vision: “Stripe started with acquisitions and then built the chain. We already have the chain—one of the most adopted Layer-2 ecosystems—and now we’re strategically bringing the right pieces on top of it. Polygon Labs is evolving into a serious fintech company.”

• Current Stablecoin Focus: USD1 nearing $3.5 billion market cap, second-largest dollar-backed token.
• Long-Term Ambition: Full-stack fintech offering (fiat ramps + custody + execution + settlement) built on Polygon infrastructure.

Competitive Positioning: “Reverse Stripe” vs. Traditional Fintech

Polygon’s strategy inverts Stripe’s playbook:

• Stripe Path: Started with payments → acquired stablecoin/wallet companies → building blockchain infrastructure.
• Polygon Path: Already operates a mature, high-throughput Layer-2 network → now acquiring fiat on-ramps (Coinme) and wallet/infrastructure layers (Sequence).

The result: Polygon aims to become a full-stack, on-chain fintech competitor to Stripe, leveraging existing blockchain adoption while rapidly filling missing pieces.

• Coinme Advantage: Extensive U.S. money transmitter licenses and crypto ATM network.
• Sequence Advantage: Modular wallet SDKs and developer tools for seamless user onboarding.
• Competitive Edge: Combines high-performance chain with compliant fiat rails and user-friendly wallets.

Regulatory and Market Context

The acquisitions and OCC charter application occur amid a favorable U.S. regulatory environment:

• GENIUS Act: Provides clearer stablecoin licensing and reserve rules.
• OCC Precedent: December 2025 conditional trust bank charters granted to Circle, Ripple, Fidelity Digital Assets, BitGo, and Paxos.
• Institutional Demand: Growing appetite for regulated stablecoin and payment infrastructure.

However, traditional banking groups have raised concerns about a potential “two-tier” system where crypto-focused trust banks gain national charters while avoiding certain insured-bank requirements.

Outlook: Polygon’s Next Phase as a Fintech Contender

The $250M+ crypto acquisitions of Coinme and Sequence represent a bold acceleration of Polygon Labs’ stablecoin strategy and payments ambitions. By combining fiat on-ramps, wallet infrastructure, and a high-performance Layer-2 ecosystem, Polygon is positioning itself as a serious on-chain competitor to Stripe and other traditional fintech players.

Key milestones to watch in 2026:

• OCC charter decision for stablecoin issuance/custody.
• RLUSD multi-chain expansion progress.
• Integration of Coinme fiat ramps and Sequence wallet tools into Polygon ecosystem.
• Early institutional adoption of full-stack payments offering.

In summary, Polygon Labs has acquired Coinme and Sequence in a combined deal exceeding $250 million, significantly strengthening its stablecoin strategy and positioning Polygon as a direct on-chain competitor to Stripe. The moves—adding fiat on-ramps, money transmitter licenses, and advanced wallet infrastructure—complete critical pieces of a full-stack fintech vision built on Polygon’s existing high-throughput blockchain network. With regulatory tailwinds (GENIUS Act, OCC charter application) and institutional demand rising, Polygon is evolving from a leading Layer-2 scaling solution into a comprehensive regulated payments and stablecoin platform. Monitor OCC review progress, RLUSD adoption metrics, and integration updates for confirmation of momentum—always reference official company announcements and regulated sources when evaluating blockchain and cryptocurrency developments.

FAQs

Q1: Why is Polygon Labs buying crypto companies now? A: To build a complete payments and stablecoin stack on top of its existing high-performance blockchain network, positioning Polygon as a direct on-chain competitor to traditional fintech players like Stripe.

Q2: How does this make Polygon compete with Stripe? A: Stripe is acquiring companies and building blockchain infrastructure to control the full stablecoin payments flow. Polygon Labs is doing the reverse: leveraging its already-established Layer-2 ecosystem while acquiring fiat on-ramps (Coinme) and wallet/infrastructure layers (Sequence).

Q3: What is Coinme known for? A: Coinme operates one of the largest crypto ATM networks in the U.S. and specializes in cash-to-crypto conversions, backed by a wide portfolio of state-level money transmitter licenses.

Q4: What does Sequence bring to Polygon? A: Sequence provides advanced wallet infrastructure, embedded wallet solutions, and developer tools that simplify on-chain user onboarding and transaction experiences.

Q5: Is Polygon shifting away from its NFT and gaming roots? A: No—payments and stablecoins are an expansion, not a pivot. Polygon continues to invest heavily in gaming, consumer apps, and zero-knowledge technology while adding real-world fintech capabilities.