TLDR
- Polygon Labs has completed its acquisition of Coinme.
- The deal adds 37 money transmitter licenses and 11 exemptions, covering 48 US states.
- The January deals for Coinme and Sequence were worth more than $250 million combined.
- Tazapay, Mesh, Toku and Kira are early Open Money Stack customers.
- Polygon Chain has passed $3 trillion in cumulative stablecoin transfer volume.
Polygon Labs has completed its purchase of Coinme, a licensed crypto exchange and cash-to-crypto platform. The company announced the news on Wednesday.
BREAKING: Polygon Labs is now a U.S.-regulated payments business.
The Coinme acquisition is complete. It brings regulated U.S. money movement into Polygon Open Money Stack.@Tazapay, @meshpay, @useToku, and Kira join as the first set of businesses moving money with the unified… pic.twitter.com/LAMmzndk7t
— Polygon (@0xPolygon) October 14, 2026
The deal gives Polygon’s US payments business coverage in 48 states. It includes 37 money transmitter licenses and 11 exemptions.
Polygon is also registered with the Financial Crimes Enforcement Network as a money services business. This lets the company convert dollars into digital assets and back again.
How the Deal Came Together
Polygon announced agreements in January to buy Coinme and wallet infrastructure provider Sequence. The combined price was more than $250 million.
The Coinme closing completes one part of that package. Polygon said the purchases would add licenses, wallet technology and cross-chain transaction routing to its payments business.
At the time, CEO Marc Boiron said the company needed its team to become a “leading payments-focused blockchain company.” Polygon Labs also consolidated some roles.
Coinme lets users buy and sell digital assets with cash, debit cards and bank transfers. When the deal was first announced, it had more than one million users.
Polygon said Coinme also had a retail network of 50,000 locations.
Boiron said the deal brings regulated US money movement into Open Money Stack. He said it helps support a payment from the moment funds come in to the moment the recipient gets paid.
What Open Money Stack Offers
Open Money Stack combines fiat on-ramps and off-ramps, wallets, cross-chain routing and settlement. Businesses can use it through a single integration.
The platform lets businesses accept funds, settle in stablecoins and pay recipients in local currency.
Tazapay, Mesh, Toku and Kira are among the first customers. Tazapay is using the platform for cross-border business payments.
Tazapay CEO Rahul Shinghal said the platform gives businesses “a more direct route between stablecoins and local currency.”
Mesh is adding an on-ramp to its network of more than 300 wallets, exchanges and financial services. Toku plans to link stablecoins with compliant payroll in more than 100 countries.
Kira is using the platform to expand stablecoin options for clients that access US bank accounts and payment channels.
Polygon Chain has passed $3 trillion in cumulative stablecoin transfer volume, according to the company. Open Money Stack components are operating, but the unified integration remains in technical preview for select customers.
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