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Polygon Labs Acquires Coinme and Sequence for Over $250 Million

Polygon Labs Acquires Coinme and Sequence for Over $250 Million

Polygon Labs has acquired Coinme and Sequence to expand its stablecoin and Open Money Stack strategy, incorporating Coinme’s licenses and Sequence’s wallet tech.

Summary

Polygon Labs has acquired crypto payment firm Coinme and blockchain platform Sequence for over $250 million. This acquisition aims to enhance Polygon’s stablecoin payments and its Open Money Stack strategy by leveraging Coinme’s regulatory licenses and Sequence’s smart wallet technology.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency designed to maintain a stable value, typically pegged to fiat currencies such as the US dollar.
  • On-chain payment stack: An integrated set of blockchain-based tools and services that handle payments, settlement, and financial operations directly on a blockchain.