Polygon Labs completes Coinme acquisition, bringing regulated payments to 48 US states

Coinme acquisition finalizes, unlocking regulated US payments

Polygon Labs has completed its acquisition of Coinme, a company that operates crypto ATMs and payment services. The deal gives Polygon access to regulated money transmission coverage in 48 U.S. states, along with additional licenses and exemptions.

Tazapay, Mesh, Toku, and Kira are among the first companies to use Polygon's Open Money Stack platform, which was built to handle payments using the acquired infrastructure, according to a statement shared with The Block on Wednesday.

What the deal includes

• Polygon is part of a larger $250 million combined acquisition announced in January, which also included Sequence, a wallet infrastructure company.
• Coinme adds 37 state money transmitter licenses, 11 exemptions, and registration with FinCEN (the Financial Crimes Enforcement Network) as a money services business.
• Open Money Stack combines fiat on-ramps (ways to move traditional currency into crypto), off-ramps (crypto back to traditional currency), wallets, cross-chain routing, and settlement into one integration.
• Polygon Chain has surpassed $3 trillion in cumulative stablecoin transfer volume, according to the company. A stablecoin is a digital currency designed to hold a steady value, usually tied to the US dollar.

What Polygon says about the integration

"Completing the Coinme acquisition brings regulated U.S. money movement into Open Money Stack, giving us more of the infrastructure to support a payment from the moment funds come in to the moment the recipient gets paid," said Polygon Labs CEO Marc Boiron.

How early customers are using the platform

Tazapay is using the infrastructure for cross-border business payments. Mesh is adding an on-ramp to its network of more than 300 wallets, exchanges, and financial services. Toku plans to link stablecoins with compliant payroll and local-currency payouts across more than 100 countries. Kira is already using Open Money Stack to expand stablecoin options for clients accessing U.S. bank accounts and payment channels.

Platform status

Polygon said its Open Money Stack components are operating, but the unified integration remains in technical preview for select customers. This means the full combined platform is not yet widely available.

Why this matters for crypto payments

The acquisition gives Polygon a regulated payments footprint in the United States, which is one of the largest and most complex markets for financial services. Having state money transmitter licenses and federal registration allows companies to move money legally across borders and between crypto and traditional banking systems.

• The Block

Read also: Polygon gains US payments licenses after closing Coinme deal