Polygon Labs Acquires Two Crypto Startups for Over $250 Million

Polygon Labs, known as the developer of the Ethereum-based blockchain network, has announced the acquisition of two crypto startups – Coinme and Sequence, for a total amount exceeding $250 million. This deal aims to strengthen Polygon's position in the stablecoin and payments sector, enabling it to compete with giants like Stripe. According to Polygon Foundation founder Sandeep Nailwal, this transforms Polygon Labs into a "full-fledged fintech company," integrating infrastructure for fiat-to-crypto conversions and wallets.

Coinme

A Seattle-based startup specializing in cash-to-cryptocurrency conversions via ATMs. The company holds money transmission licenses in the US, making it a valuable asset for regulatory compliance. The acquisition cost of Coinme is estimated at $100-125 million, though exact figures are not disclosed. In 2025, Coinme faced regulatory issues in California and Washington due to violations related to ATMs but resumed operations after improving compliance.

Sequence

A New York-based provider of blockchain infrastructure, developing crypto wallets and other tools. Its acquisition, valued at approximately $125-150 million, will enhance Polygon's technological base for building a complete payments stack.

The deal does not disclose the payment form - whether cash, shares, or a combination. The Sequence transaction is expected to close this month, and Coinme's in the second quarter of 2026, subject to regulatory approvals.

Strategic Motives and Implications

Polygon Labs, previously associated with the NFT boom in 2021-2022, is now focusing on payments. The company has hired former Stripe crypto head John Egan to bolster expertise. This deal is a "reverse Stripe": Polygon already has blockchain infrastructure and is adding startups to create a full stablecoin stack. The growing interest in stablecoins, supported by new US regulations, makes this move strategic. Polygon aims to dominate payments by integrating fiat-crypto rails for nationwide coverage in the US.

According to Polygon Labs CEO Marc Boiron, Coinme exceeds compliance requirements:

"They go far beyond what's necessary... This is state-of-the-art."

Sandeep Nailwal added:

"This is reverse Stripe... Polygon Labs is becoming a full-fledged fintech company."

Market and Community Reaction

On X, the news spread quickly. Bitcoin.com News noted that the acquisition will help Polygon compete with Stripe in payments infrastructure.

Users like @RTB_io shared interviews with CEO Marc Boiron explaining the strategy.

Analysts predict a bullish impact on the MATIC token and DeFi assets related to Polygon, though potential increased regulatory scrutiny may add volatility.

This deal underscores the consolidation trend in the crypto industry, where major players like Polygon invest in regulatory assets for mass adoption. Stay tuned for updates, as this could reshape the stablecoin payments landscape in 2026.