Polygon Labs, the US-based blockchain payments firm, has secured agreements to acquire Coinme, a Seattle-headquartered stablecoin and crypto payments platform, and Sequence, a Web3 and crypto infrastructure company, for “more than $250 million”, according to a company statement.
Both deals are subject to customary regulatory approvals and closing conditions. Polygon Labs says it expects the Sequence transaction to close in January, while the Coinme acquisition is set to close in Q2 2026. Once the transaction is completed, Coinme will operate as a wholly owned subsidiary.
Created in 2014, Coinme offers banks and fintechs a white-label crypto-as-a-service solution, enabling clients to offer stablecoin and crypto payments within their own apps.
Three years later, Sequence was created to power Skyweaver, a Web3 video game. Since then, the blockchain company has built out its infrastructure stack to encompass crypto wallets, on-chain data, and developer tooling. The company now powers Trials, a platform for one-click crypto transactions and payments.
Polygon Labs says that Coinme and Sequence will play “foundational roles” as the company looks to build out its upcoming fiat and digital payments solution, Polygon Open Money Stack.
Open Money Stack is being built to provide banks, fintechs, and businesses with the ability to transfer money across traditional financial systems and digital on-chain rails using US dollar stablecoins, merchant tokens, and international stablecoins.
The company adds that by using Polygon Open Money Stack, “enterprises and institutions can offer and receive real-time settlements, reduced correspondent banking exposure, lower fees, and predictable pricing”.
Coinme and Sequence’s tech will help power physical cash and digital fiat on- and off-ramps, wallet infrastructure, and cross-chain orchestration services for the new offering.
