Blockchain firm Polygon Labs has agreed to acquire US-based crypto companies Coinme and Sequence to strengthen its capabilities in stablecoin-based payments.
Polygon said the acquisitions will underpin its Open Money Stack, a framework scheduled for launch in 2026.
The stack is intended to support stablecoin payments across multiple blockchains.
Coinme, founded in 2014, operates a regulated digital currency payments business that lets users convert cash into cryptocurrency.
The company holds money-transmitter licences in 48 US states.
It manages a network of more than 50,000 locations where people can exchange cash for crypto, including kiosks and ATMs across the US. Its crypto-as-a-service platform is used by fintech firms and enterprise clients.
Subject to standard regulatory approvals, Coinme will become a wholly owned subsidiary of Polygon Labs. The company serves over one million users of its consumer payments app.
Coinme’s backers include Pantera, Digital Currency Group (DCG), Coinstar, Circle Ventures and MoneyGram.
Sequence provides technology designed to simplify crypto transfers across multiple blockchains.
Polygon said Sequence “complements and accelerates” its interoperability efforts, including Agglayer’s aim “to unify all of crypto”, while keeping the focus on making payments feel “simple and reliable”.
Sequence’s offering includes enterprise-grade smart wallets and Trails, described as “a 1-click cross-chain routing and intents engine”.
It also provides infrastructure that hides bridging, swaps and gas from end users.
This setup allows applications to move stablecoins between networks without exposing users or payments teams to underlying blockchain complexity.
Sequence and Trails are already deployed by global platforms and enterprises.
Investors in Sequence include Brevan Howard Digital, Initialized Capital, Coinbase, Polychain, Consensys, Take-Two Interactive, Ubisoft and Bitkraft.
Its infrastructure is in use across blockchain ecosystems such as Polygon, Immutable, Monad, Arbitrum and Magic Eden, as well as newer networks including SKALE, Etherlink, ApeChain, Soneium and Somnia.
Polygon said that, once integrated into its stack, Sequence and Trails will act as an orchestration layer that moves money to its destination in the background, so users do not need to understand how funds traverse different chains.
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