• Polygon Labs acquired Coinme and Sequence for over US$250 million to construct the “Open Cash Stack,” a unified framework for international stablecoin funds.
  • The deal integrates Coinme’s US money-transmitter licenses and 50,000 retail places with Sequence’s smart-wallet tech to simplify cross-chain transactions.
  • Polygon goals to turn out to be a regulated funds supplier by 2026, competing with conventional giants like Stripe by shifting fiat and stablecoin flows totally on-chain.

Polygon Labs has signed definitive agreements to purchase crypto funds agency Coinme and pockets infrastructure supplier Sequence for greater than US$250 million (AU$382 million).

The acquisitions, Polygon says, are the inspiration for a brand new stablecoin funds framework it plans to launch in 2026.

Polygon stated Coinme and Sequence will function as distinct parts internally however be introduced to clients as a single funds platform, with licensing saved in separate entities.

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Particulars Concerning the Acquisitions

The corporate stated the offers will anchor its “Open Cash Stack,” a developer-focused bundle of blockchain settlement, pockets infrastructure and controlled fiat entry geared toward shifting stablecoin funds between conventional monetary methods and onchain networks, together with for cross-border transfers. Polygon says the stack is being constructed to run throughout a number of blockchains moderately than being tied to a single community.

Coinme provides regulated on- and off-ramps to the Polygon ecosystem. Coinme is named an early US bitcoin ATM kiosk supplier. Crypto Information Australia beforehand reported Polygon was discussing a purchase order worth within the vary of US$100 million to US$125 million (AU$191 million)

By combining Coinme’s regulated U.S. cost infrastructure and nationwide money community with Polygon’s ecosystem, we’re creating one thing highly effective: a turnkey resolution that permits Web2 and Web3 corporations to embed compliant stablecoin funds straight into their platforms.

Coinme

In the meantime, Sequence brings “sensible pockets” and cross-chain tooling meant to make crypto funds really feel extra like commonplace checkout flows, together with dealing with complexity corresponding to bridging, swaps and gasoline charges within the background. 

Polygon CEO Marc Boiron stated in an announcement the technique displays a deliberate pivot towards funds over the previous yr and expects settlement to stay multi-chain, arguing funds quantity is massive sufficient to help a number of networks. 

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The publish Polygon Moves Into Regulated Payments With $250M Acquisition Spree appeared first on Crypto News Australia.