Polygon Completes Coinme Deal, Expands US Payments Ecosystem
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Written by:
- Felix Ng, staff editor
- Yohan Yun, staff editor
Polygon gains US payments licenses after closing Coinme deal
Latest News
Published: Oct 15, 2026
Polygon Labs has completed its acquisition of Coinme, granting its stablecoin payments platform regulated access to convert dollars into digital assets and vice versa across 48 US states.
Polygon now holds:
- 37 money transmitter licenses
- 11 state exemptions
The company is also registered with the Financial Crimes Enforcement Network (FINCEN) as a money services business.
This acquisition follows previous agreements to buy Coinme and wallet infrastructure provider Sequence for over $250 million combined, aligning with Polygon's goal to become a leading payments-focused blockchain company.
Coinme is a licensed crypto exchange and cash-to-cryptocurrency platform, serving over one million users and a retail network of 50,000 locations at the time of the acquisition.
Rahul Shinghal, co-founder and CEO of Tazapay, one of the platform's first customers, noted that the Open Money Stack provides a more direct route between stablecoins and local currency.