Polygon Labs, the developer of the Polygon network, has completed its acquisition of Coinme, a deal that turns the Polygon Open Money Stack into a regulated U.S. payments platform with direct connections between fiat and onchain money movement. The transaction adds wallets, on-ramps, and cross-chain routing and settlement capabilities to the stack, along with a layer of regulatory protection for Polygon's stablecoin payments operations. Tazapay, Mesh, Toku, and Kira are the first companies building payments, payroll, and dollar-access services on the platform.

Coinme Gives Polygon Coverage Across 48 US States

Under Polygon's ownership, Coinme now serves as the company's U.S. payments service, available across 48 states. The business holds 37 state money transmitter licenses and benefits from 11 state exemptions, and it is registered as a money services business with FinCEN. Those credentials matter because U.S. money movement is regulated in layers: money transmitter licenses are granted state by state to businesses that move funds on customers' behalf, and FinCEN registration is the federal requirement for money services businesses under the Bank Secrecy Act. Acquiring an operator that already holds this coverage is a common route into regulated U.S. payments.

That regulatory layer is being incorporated into the Polygon Open Money Stack (OMS), which is designed to link bank accounts, cards, and cash to onchain transfers, wallets, and, ultimately, payouts. The licenses and registrations give the OMS a compliant foundation for moving funds between traditional banking rails and blockchain networks. Rather than stitching together small transactions from multiple providers, businesses can use a single stack to move money onto crypto rails, send it across networks, and bring it back down into usable, real-world currency. The official announcement is available on the Polygon blog.

Stablecoins Connect More Directly to Local Currency

Stablecoins are blockchain tokens designed to track the value of a reference currency, most commonly the U.S. dollar, and their usefulness as a payment tool rests on the conversions at either end: on-ramps turn fiat into tokens, and off-ramps turn tokens back into spendable local currency. The OMS is designed to provide both directions within a single compliant stack.

Tazapay is among the early adopters of the OMS. The company supports more than 1,000 businesses and fintechs in over 30 countries and has implemented Polygon's on- and off-ramp solutions to reduce the time it takes to bring stablecoins and local currencies to market. The aim is to shorten the path for cross-border payments without eliminating pre-existing local payment systems or SWIFT.

Mesh, Toku and Kira Expand Polygon's Payments Footprint

Polygon OMS on-ramps will also be added across a network of more than 300 wallets, exchanges, and financial services companies. The integration creates alternative pathways between digital and fiat currencies without forcing companies to build numerous individual integrations.

Toku's global payroll solutions are powered by Polygon wallets and payout systems. The company handles local payroll, tax withholding, and hiring compliance in more than 100 countries, while also facilitating payments to employees who receive stablecoins and then use them to purchase local currency.

Kira is likewise working to integrate Polygon OMS to expand fintech and institutional access to stablecoins. Its platform supports conversion to USD, ACH, Fedwire, FedNow, SWIFT, and stablecoins. According to Kira, signup takes only 72 hours, and 9 out of 10 payments receive instant approval.

Polygon Pushes Deeper Into Stablecoin Payments

The Coinme transaction moves Polygon beyond an infrastructure-only business. By enabling regulated fiat entry alongside onchain settlement, wallets, and payouts, Polygon is building out one of crypto's surging use cases: moving stablecoins between traditional financial systems and crypto networks. Not all of the announced footprint is operational yet: Tazapay's ramps and Toku's payroll flows are already running on Polygon rails, while Mesh's network rollout and Kira's integration are still in progress — a gap between announced and live coverage worth watching as the stack scales.

Polygon OMS is in production today, with its first customer demonstrating the stack's ability to enable cross-border payments, account funding, payroll enrollment, and access to the U.S. dollar, according to the announcement.