Polygon acquires Coinme to accelerate the deployment of the currency infrastructure, with physical self-service kiosks now available in 48 states across the United States

Cryptocurrency infrastructure company Polygon Labs announced the acquisition of Seattle-based crypto payment platform Coinme and New York-based blockchain infrastructure startup Sequence. According to Fortune, after the acquisition is completed, Coinme will become a wholly owned subsidiary of Polygon Labs, maintaining its brand and existing management team operations, while Sequence will provide technical support. The specific acquisition amount and details have not been publicly disclosed.

This acquisition is seen as a core strategic layout of Polygon’s new open Open Money Stack ( currency architecture. Polygon management stated that this architecture aims to integrate various crypto payment and stablecoin services, providing a convenient payment experience similar to traditional fintech applications. Polygon Labs CEO Marc Boiron pointed out that this is a strategy completely different from payment giants like Stripe, which is building its own public chain; Polygon will introduce regulated payment channels into existing system mechanisms.

Coinme connects physical retail machines and will obtain remittance licenses in 48 states

After acquiring Coinme, Polygon will gain over 50,000 physical retail payment points across the United States, including Coinstar self-service machines, where users can exchange cash for cryptocurrencies. This extensive physical network will enable Polygon ( formerly known as Matic ) to rapidly expand in the retail payment sector, attracting more mainstream consumers to use cryptocurrencies. Most importantly, after the acquisition, Polygon POL will obtain remittance licenses in 48 states, allowing it to operate compliant payment and remittance services, offering stablecoin exchange and crypto payment functions, serving enterprise clients and financial institutions. Polygon CEO Boiron emphasized that this is a significant breakthrough for Polygon blockchain payments.

Current progress of the acquisition

According to official announcements, the acquisition still requires approval from U.S. regulatory authorities and is expected to be completed in Q2 2026. After completion, Coinme will retain its brand and senior management team as a wholly owned subsidiary of Polygon.

Background of Coinme

Seattle-based Coinme is known for creating cryptocurrency ATMs. The company holds remittance licenses in the U.S., but has faced regulatory challenges in the past. By the end of 2025, California regulators penalized it over self-service terminal transaction limits, and Washington State temporarily halted operations due to voucher exchange issues. However, with legal issues resolved and benefiting from the clarity provided by the Talent Act on federal stablecoin regulation, Polygon is confident in Coinme’s future compliance.

Polygon recruits Stripe executives and expands stablecoin布局

This Coinme acquisition is also an important move for Polygon’s development toward stablecoins, which have seen rapid growth in fintech, tech companies, and interbank applications in recent years. Originally known for its NFT business, Polygon has actively shifted toward retail payments and stablecoin expansion, even recruiting Stripe’s crypto executive John Egan.

What is the difference between Polygon and Ethereum?

Ethereum ETH, as Layer 1, provides a secure foundation, while Polygon, as Layer 2 (L2), focuses on speeding up processes and reducing fees, especially suitable for high-frequency retail payments and small transactions. Polygon’s technical upgrades include the AggLayer strategy, which unifies liquidity across multiple blockchains, allowing users to transfer assets freely between different chains without the delays of traditional cross-chain bridges.

Acquiring Coinme and Sequence will transform Polygon from a developer-centric blockchain ecosystem into a comprehensive fintech platform that also focuses on retail payments, enterprise services, and stablecoin strategies. Its future competitiveness in the U.S. retail market and cross-chain payment scenarios will be greatly enhanced.

This article on Polygon’s acquisition of Coinme, accelerating open currency architecture, and deploying physical self-service exchange machines across all 48 states was first published on Chain News ABMedia.