Polygon has completed the acquisition of Coinme. Its services are available in all 48 states of the

Polygon Labs has completed the acquisition of Coinme. The payment services offered by Coinme are available in all 48 states of the United States.

Polygon Labs has officially acquired Coinme. This strategic move allows this blockchain technology development company to access regulated payment infrastructure in all 48 states of the United States. This move helps Polygon transform from a mere blockchain transaction service provider into a comprehensive financial services provider, with the goal of integrating traditional bank accounts, cash systems, and stablecoins into a unified framework.

With this acquisition, Polygon now holds licenses as a money transfer operator in 37 states, along with 11 exemptions from regulatory requirements. This greatly expands its ability to facilitate fund flows in almost every U.S. jurisdiction. Coinme was founded in 2014 and is a fintech company. It is also registered as a money service business with the Financial Crime Enforcement Network (FinCEN) under the U.S. Department of the Treasury. However, while federal registration ensures national-level regulatory oversight, the specific operational terms are determined by state regulations.

This integration addresses a long-standing issue in the field of digital dollar payments: blockchain-based transfers often cannot meet all of a customer’s funding deposit, withdrawal, or settlement needs. By granting access to fiat currency and connecting digital wallets with blockchain settlements, Polygon aims to simplify deposit and withdrawal processes within a unified, regulated environment. This becomes increasingly important for both cross-border and domestic payment services.

After completing the acquisition of Coinme, Polygon Labs officially entered the American payment industry. This transaction will provide the Polygon Open Money Stack platform with regulated financial transaction capabilities. The Open Money Stack solution aims to establish a direct connection between regulated entry points, cash funds, banking services, and blockchain token transfers. This move is intended to improve the user experience for businesses and individuals, especially when dealing with financial institutions from different countries, by providing more convenient access to established payment channels.

Coinme’s network and user base will be integrated into Polygon.

Coinme has over 1 million active application users and approximately 50,000 retail outlets where users can access digital asset services. Before its acquisition, Coinme focused on facilitating the trading of cryptocurrencies through cash, debit cards, and partnerships with banks at physical stores and ATM machines across the United States.

By combining Coinme’s licensed business with Polygon’s existing blockchain infrastructure, the Open Money Stack will support customer deposits, stable coin exchanges, digital wallets, and seamless transaction routing for both businesses and individuals.

Glossary: Coinme is a fintech company based in the United States. It provides cryptographic currency access through licensed money services, including cash deposit and withdrawal points located at thousands of retail outlets across the country.

This agreement stems from Polygon’s acquisition plan announced earlier this year in January. At that time, Polygon announced its intention to acquire Coinme and the wallet provider Sequence for more than $250 million. The exact acquisition price for Coinme has not been disclosed yet.

This payment platform joins Polygon’s stablecoin ecosystem.

Many companies have become early adopters of Polygon’s payment systems. Tazapay provides cross-border payment services, with customers in over 30 countries. It utilizes Polygon’s infrastructure to facilitate stablecoin settlements for its global business clients. Mesh connects its platform to Polygon, providing additional fiat currency options within its ecosystem, which includes more than 300 wallets, exchanges, and financial applications.

Toku is leveraging Polygon’s wallet and stablecoin issuance capabilities to enhance its ability to manage payroll operations in over 100 countries around the world. This allows employees to receive stablecoin payments and convert them into their local currencies. Another partner, Kira, is developing stablecoin payment channels, complementing existing payment solutions such as US bank accounts, ACH (Automated Clearing House), Fedwire (Federal Reserve Electronic Transfer System), and the Federal Reserve’s real-time FedNow system.

Glossary: Tazapay is a global payment platform that offers cross-border transaction solutions, with a focus on supporting businesses in making payments using stablecoins and digital assets.

These integrations position Polygon as an important hub for companies seeking to unify access to both digital and traditional payment infrastructure. Currently, Polygon is still in the technical preview phase, and therefore the transaction volume and revenue data of Tazapay, Mesh, Toku, and Kira on the Open Money Stack remain undisclosed.

Company Name Main Services Coverage Area Key Integrations Coinme Cryptocurrency and fiat retail access 48 states in the US, with 50,000 branches Retail and digital account opening services, with regulatory licenses Tazapay Cross-border payments Services available in over 30 countries Stablecoin settlement services Mesh Account funding options Over 300 wallets and exchanges Fiat currency integration services Toku Salary management solutions Services available in over 100 countries Wallet and distribution functions Kira USD access options Services for the US and international markets Stablecoin expansion, traditional transfer services

The first companies to adopt the Polygon Open Money Stack include Tazapay, which handles cross-border payments; Mesh, which manages account funds; Toku, which processes global salaries; and Kira, which enables access to the US dollar. Full implementation is currently underway, and the integration process has reached the technical preview stage.

The expansion of the Open Money Stack capabilities marks Polygon’s entry into the regulated payment sector, allowing it to bridge the gap between digital assets and the traditional financial industry through compliant and licensed infrastructure.