Polygon invests $250 million to acquire two companies, intensifying the stablecoin payment war with Stripe

Polygon Labs today announced the completion of acquisitions of two crypto startups, Coinme and Sequence, with a total transaction amount exceeding $250 million. This significant acquisition is not merely an asset integration but an important strategic move by Polygon in the payments infrastructure field. Both CEOs explicitly stated that this is a core component of the company’s stablecoin and payment strategy, aiming to strengthen Polygon’s layout in the payments infrastructure sector. More notably, this acquisition happened just two days after Polygon CEO launched the “Open Currency Stack” vision, marking the beginning of the concrete implementation phase of this grand vision.

Roles of the Acquired Companies

Coinme: The Hub Connecting Fiat and Crypto

Headquartered in Seattle, Coinme focuses on cash and crypto asset exchange services and operates a network of crypto ATMs across the US. More importantly, it holds multiple state-level money transfer licenses, which means it has obtained regulatory approval across various US states. Such licenses are crucial in the crypto payments field, providing Polygon with a compliant channel to enter the formal payment market.

Sequence: Integrity of Blockchain Infrastructure

Based in New York, Sequence provides blockchain infrastructure services, including core products like crypto wallets. In Polygon’s overall strategy, Sequence complements an important link from asset management to user interaction.

Competitive Landscape with Stripe

Polygon Foundation founder Sandeep Nailwal openly states that this move positions Polygon Labs in direct competition with Stripe. Over the past year, Stripe has acquired stablecoin startups, crypto wallet companies, and launched its own blockchain tailored for payments. Now, through this acquisition, Polygon is rapidly filling key gaps in its tech stack.

Strategic Significance: From Concept to Reality

Complete Payment Tech Stack

The core value of this acquisition lies in Polygon building a comprehensive stablecoin payment solution. From fiat entry points (Coinme’s ATM network and state licenses) to user asset management (Sequence’s wallets) and on-chain infrastructure (Polygon mainnet), the entire chain is forming a closed loop. This vertical integration mirrors Stripe’s successful model in traditional payments.

Concrete Implementation of the “Open Currency Stack”

This acquisition closely aligns with the “Open Currency Stack” vision recently launched by Polygon CEO. The core of this vision is to bring all currencies on-chain, and the acquisitions of these two companies provide the complete infrastructure from off-chain to on-chain for this vision.

Market Recognition of This Strategy

According to the latest news, Polygon’s token POL surged 15% in a single day on January 11, becoming the strongest among the top ten cryptocurrencies. Behind this surge is the market’s recognition of Polygon’s payments infrastructure strategy. Data shows that Polygon was the top network in terms of revenue over the past week, processing 1.4 billion transactions in 2025, with a record-breaking 3 million POL tokens burned, demonstrating the network’s value capture ability. These indicators show that Polygon is no longer just at the conceptual stage but is truly establishing itself in the payments infrastructure field.

Summary

Through this over $250 million acquisition, Polygon is upgrading itself from a simple scaling solution to a comprehensive payments infrastructure provider. The competition with Stripe has moved from the conceptual stage to actual deployment, with both sides vying for dominance in the stablecoin payments ecosystem. This competition is beneficial for the entire crypto payments track, accelerating the practical adoption of stablecoin payments. For investors, continuous attention should be paid to Polygon’s subsequent progress in the payments infrastructure sector and how this strategy impacts the long-term value of POL tokens.