Polygon Labs Acquires Coinme and Sequence in $250M Push for Stablecoin Dominance

Polygon Labs has made a strategic $250 million acquisition of two U.S.-based crypto startups, Coinme and Sequence, signaling its aggressive entry into the stablecoin and payments sector. The move positions Polygon as a direct competitor to financial giants like Stripe, Visa, and Mastercard, all of whom are vying for control of the burgeoning stablecoin market.

The acquisitions follow Polygon's recent unveiling of its Open Money Stack system—a framework designed to streamline global stablecoin transactions through unified liquidity pools and regulatory compliance infrastructure. Coinme brings critical money-transmitter licenses covering 48 U.S. states, while Sequence contributes smart wallet technology that simplifies cross-chain payments.

Together, these assets have already facilitated over $1 billion in off-chain transactions and $2 trillion in on-chain value. The deals underscore Polygon's ambition to transition from a layer-2 scaling solution to a comprehensive financial infrastructure provider.