Polygon Labs has acquired crypto startups Coinme and Sequence for over $250 million, although the exact financial details and payment terms remain undisclosed, according to Fortune.
BREAKING: Polygon to become U.S. regulated payments platform
— Polygon | POL (@0xPolygon) January 13, 2026
We’re acquiring Coinme and Sequence to move all money onchain.
→ Regulated money movement in 48 states
→ Fiat on/off ramps
→ 50,000 fiat-to-crypto locations in the U.S.
→ Easy onboarding with wallet infra
→… pic.twitter.com/lwvLheEc3P
These acquisitions are part of Polygon's new strategy to expand its stablecoin offerings. Polygon Foundation founder Sandeep Nailwal stated that the company is transforming into a full-fledged fintech business and is entering direct competition with payment giant Stripe.
“This is sort of a ‘Stripe in reverse.’ They first acquired startups for ‘stablecoins’ and then built their blockchain. We already have an established network and are attracting projects to build on top of it,” he explained.
Based in Seattle, Washington, Coinme specializes in converting cash to cryptocurrency and holds money transfer licenses in the U.S. New York-based Sequence focuses on developing infrastructure and crypto wallets.
Earlier, CoinDesk reported that the acquisition of Coinme cost Polygon Labs between $100 million and $125 million. CEO Mark Buaron refuted these claims in a comment to Fortune, calling the article “almost entirely erroneous.”
The CEO also addressed regulatory issues faced by Coinme. In 2025, authorities in California and Washington raised concerns over high withdrawal limits at crypto ATMs. Buaron stated that he believes Coinme's compliance system is “cutting-edge,” while the regulators' demands are excessive.
In October, reports indicated that the blockchain platform Tempo, developed by Stripe and Paradigm, raised $500 million in a Series A funding round led by Thrive Capital and Greenoaks.