The company acquired Coinme and Sequence, adopting their licenses and enabling operations in 48 states.
Ethereum Layer 2 scaling solution Polygon is set to become an officially recognized and regulated payments platform in the United States following its acquisitions of Coinme and Sequence.
Coinme is a regulated crypto payments company that enables buying and selling cryptocurrency with cash, and Sequence is a modular crypto infrastructure company for data and onchain payments.
According to an announcement on X, the move empowers Polygon with regulated money movement in 48 of the 50 U.S. states, fiat on- and off-ramps, and 50,000 fiat-to-crypto locations nationwide.
The acquisition comes following a strong yearly open for the POL token, which is up 53% over the last two weeks.
With Coinme enabling regulatory unlocks and fiat-related services, Sequence is meant to empower Polygon’s onchain user experience with 1-click crypto transactions, versatile gas payments, cross-chain orchestration, and wallet infrastructure.
“Today, we’re reaching a pivotal milestone for the Polygon Open Money Stack by acquiring Coinme and Sequence. Polygon’s blockchain rails have been ready for years. But we were missing the last mile pieces required to operate compliant, end-to-end payments at scale. Regulated fiat access in the U.S. across 48 states, compliant onboarding infra, and seamless crosschain payments through intents,” Polygon Foundation CEO Sandeep Nailwal said on X.
“Bringing Coinme and Sequence into Polygon completes the vertically integrated stack offering…This is how we win in payments,” Nailwal concluded.