Hassan Maishera
TL;DR
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A source close to the matter confirms that Polygon is paying $100 million to $125 million for Coinme.
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The Bitcoin ATM provider is being advised on the sale by Architect Partners.
Polygon to Acquire Coinme
Ethereum L2 blockchain Polygon is close to acquiring Coinme, one of the first U.S. bitcoin ATM kiosk providers. This is according to two sources familiar with the matter.
According to one of the sources, Polygon is looking to pay around $100 million to $125 million to acquire the Bitcoin ATM provider. Coinme is being advised on the deal by Architect Partners.
Coinme is one of the leading Bitcoin ATM providers in the world, as it operates Bitcoin ATMs in around 49 U.S. states. Since its Bitcoin ATM launch on May 1, 2014, the company has added a range of popular crypto tokens to its grocery store kiosks
Polygon has been expanding its positions in the crypto space in recent days. Three weeks ago, Polygon Labs made a strategic investment in Boys Club to help scale the profitable media business.
Boys Club will work closely as a creative collaborator with Polygon on key initiatives while continuing to operate as an independent organization. Boys Club retains full editorial independence, creative control, and operational autonomy as a revenue-generating studio, rather than a new content arm of Polygon Labs.
