Polygon Labs to acquire Coinme and Sequence in stablecoin payments push

Blockchain steadfast Polygon Labs has agreed to get US-based crypto companies Coinme and Sequence to fortify its capabilities successful stablecoin-based payments.

Polygon said the acquisitions volition underpin its Open Money Stack, a model scheduled for motorboat successful 2026.

The stack is intended to enactment stablecoin payments crossed aggregate blockchains.

Coinme, founded successful 2014, operates a regulated integer currency payments concern that lets users person currency into cryptocurrency.

The institution holds money-transmitter licences successful 48 US states.

It manages a web of much than 50,000 locations wherever radical tin speech currency for crypto, including kiosks and ATMs crossed the US. Its crypto-as-a-service level is utilized by fintech firms and endeavor clients.

Subject to modular regulatory approvals, Coinme volition go a wholly owned subsidiary of Polygon Labs. The institution serves implicit 1 cardinal users of its user payments app.

Coinme’s backers see Pantera, Digital Currency Group (DCG), Coinstar, Circle Ventures and MoneyGram.

Sequence provides exertion designed to simplify crypto transfers crossed aggregate blockchains.

Polygon said Sequence “complements and accelerates” its interoperability efforts, including Agglayer’s purpose “to unify each of crypto”, portion keeping the absorption connected making payments consciousness “simple and reliable”.

Sequence’s offering includes enterprise-grade astute wallets and Trails, described arsenic “a 1-click cross-chain routing and intents engine”.

It besides provides infrastructure that hides bridging, swaps and state from extremity users.

This setup allows applications to determination stablecoins betwixt networks without exposing users oregon payments teams to underlying blockchain complexity.

Sequence and Trails are already deployed by planetary platforms and enterprises.

Investors successful Sequence see Brevan Howard Digital, Initialized Capital, Coinbase, Polychain, Consensys, Take-Two Interactive, Ubisoft and Bitkraft.

Its infrastructure is successful usage crossed blockchain ecosystems specified arsenic Polygon, Immutable, Monad, Arbitrum and Magic Eden, arsenic good arsenic newer networks including SKALE, Etherlink, ApeChain, Soneium and Somnia.

Polygon said that, erstwhile integrated into its stack, Sequence and Trails volition enactment arsenic an orchestration furniture that moves wealth to its destination successful the background, truthful users bash not request to recognize however funds traverse antithetic chains.

"Polygon Labs to get Coinme and Sequence successful stablecoin payments push" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.