Polygon Labs has completed its acquisition of cryptocurrency payments firm Coinme, extending the company's regulated payments infrastructure across 48 U.S. states. The closed transaction gives Polygon access to 37 state money transmitter licenses, along with 11 applicable exemptions.

The deal, announced on October 14, 2026, reinforces Polygon's push into stablecoin payments and traditional financial services. Polygon's U.S. payments business also maintains registration with the Financial Crimes Enforcement Network (FinCEN), the U.S. Treasury bureau that administers anti-money-laundering rules, as a money services business. Money transmitter licenses are issued state by state, meaning companies that move funds on behalf of customers generally need separate approvals in each jurisdiction where they operate—which is why firms frequently obtain this coverage by acquiring an already-licensed operator rather than applying separately in every state.

Coinme Acquisition Expands Regulatory Footprint

The acquisition marks a significant step in Polygon's strategy to connect blockchain technology with conventional payment networks. Coinme provides cryptocurrency exchange services that allow customers to convert cash and other payment methods into digital assets.

Polygon first announced plans to acquire Coinme, alongside blockchain infrastructure provider Sequence, in January 2026. The combined transactions were valued at more than $250 million, though Polygon did not disclose Coinme's individual purchase price.

With the expanded regulatory coverage, Polygon can support a broader range of payment activities through its Open Money Stack platform. Businesses can use the infrastructure to move funds between bank accounts, digital wallets, stablecoins, and local currencies.

Stablecoin Payment Infrastructure Takes Shape

The Open Money Stack combines regulated payment access, wallet infrastructure, blockchain settlement, and cross-chain transaction routing. The platform is designed to simplify financial transfers by connecting these services through a single integration.

Several companies have already begun adopting the infrastructure for different financial applications. Tazapay, Mesh, Toku, and Kira are among the first businesses integrating Polygon's payment technology. Tazapay uses the platform for international business payments, while Mesh is expanding digital asset funding options. Toku supports global payroll services, and Kira connects stablecoin transactions with U.S. banking infrastructure.

Competitive Landscape for Regulated Crypto Payments

The acquisition comes as blockchain companies increasingly compete to provide payment infrastructure for financial institutions and businesses. Stablecoins—digital tokens designed to hold a steady value against a reference asset such as the U.S. dollar—offer an alternative settlement method that can reduce intermediaries and support transactions outside conventional banking hours. However, regulatory compliance remains essential for companies connecting digital assets with traditional currencies.

Polygon's expanded licensing coverage could help businesses integrate blockchain payments without independently developing every component of the underlying infrastructure. According to Polygon, its Open Money Stack services are operational, although the unified integration remains in technical preview for selected customers. The Coinme acquisition positions the company to compete more directly in the growing market for regulated stablecoin payments. Whether the unified integration moves from technical preview to broader availability is the next milestone to watch for the platform.

Source: Cointelegraph