Polygon Labs has completed its acquisition of cryptocurrency payments company CoinMe, adding regulated money-transfer capabilities across 48 U.S. states as the blockchain developer expands its focus on payments and stablecoin infrastructure. The closing completes a process set in motion in January, when Polygon first unveiled the twin acquisitions.

Regulatory Coverage

According to the company, the acquisition gives Polygon access to 37 state money transmitter licenses and 11 exemptions, alongside registration with the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) as a money services business. Together, these registrations supply the regulated money-transfer capability now spanning 48 states.

The breakdown matters because money transmission in the United States is authorized state by state, and assembling that coverage directly is a lengthy, multi-year process — one reason acquisitions of already-licensed companies have become a common route for crypto firms entering U.S. payments. FinCEN registration, in turn, places the money-services operation under the Treasury Department's anti-money laundering framework.

Deal Structure and Platform Plans

The transaction forms part of a combined $250 million acquisition announced in January 2026, covering both CoinMe and wallet infrastructure provider Sequence. Polygon plans to integrate the two companies' regulatory coverage, wallet technology, and cross-chain transaction routing into its Open Money Stack payments platform, its vehicle for combining blockchain settlement with conventional payment rails.

Early Adopters

Tazapay, Mesh, Toku, and Kira are among the first companies adopting the platform, which they are applying to cross-border business payments, cryptocurrency funding, payroll, and access to U.S. dollar accounts. The announcement did not specify Kira's intended use of the platform.

Tazapay is using the infrastructure to connect stablecoins with local currencies for international business payments. Mesh is adding payment on-ramps to its network of more than 300 wallets, exchanges, and financial services providers. Toku plans to use platform for compliant payroll and local-currency payouts in more than 100 countries.

How these first deployments evolve as Polygon folds CoinMe's regulatory coverage and Sequence's wallet technology into the Open Money Stack will be an early indicator of the platform's traction.

Scale and Strategic Shift

Polygon said its blockchain has processed more than $3 trillion in cumulative stablecoin transfer volume. Stablecoins — tokens pegged to fiat currencies such as the U.S. dollar — have become the standard instrument for moving value across blockchain networks, making compliant links between digital assets and bank rails a focal point of competition among payment infrastructure firms. The company is seeking to combine blockchain settlement with traditional banking and payment networks, allowing businesses to move funds between bank accounts, cash, and digital assets through a single, unified infrastructure.

The completed deal marks a further shift in Polygon's strategy — away from blockchain scaling technology and toward regulated financial infrastructure — as crypto companies compete to capture demand for stablecoin payments and cross-border money transfers.

Background

BitcoinKE has previously reported on related developments in Polygon's payments pivot, including workforce reductions at the company as it shifted toward the payments business, Circle's $400 million TazaPay deal, a Mesh funding round led by Binance, Polygon's rollout of private stablecoin payments for institutions, and SBI Group's investment in Asian stablecoin payments firm dtcpay.

Source: BitcoinKE — Polygon Completes CoinMe Acquisition Securing U.S. Payments Coverage Across 48 States