Hassan Maishera
On Tuesday, Polygon Labs announced via X that it has become a U.S.-regulated payments platform. This comes as Polygon is acquiring Coinme and Sequence to move all money onchain.
This will see Polygon become a regulated money movement in 48 states, offer fiat on/off ramps, provide 50,000 fiat-to-crypto locations in the U.S., ensure easy onboarding with wallet infra, and provide 1-click crypto transactions across chains.
Coinme brings regulated access to U.S. money movement through money-transmitter licenses and a licensed wallet infrastructure, operating in 48 U.S. states and 50,000+ retail locations. They also bring an enterprise-ready API enabling web2 and web3 companies to offer crypto trading, custody, and on/off ramps.
Sequence makes onchain payments simple and seamless, abstracting blockchain complexities away from the user. The acquisition brings embedded wallets, with enterprise-grade security, and Trails, a 1-click cross-chain orchestration and intents engine that abstracts bridging, swaps, and gas from end users.
Together, Polygon’s battle-tested blockchain rails, Coinme’s regulated money movement and on/off ramp network, and Sequence’s wallet and crosschain payments layer form the foundational components of the Polygon Open Money Stack.
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. POL is up 7.5% in the last 24 hours and trades at $0.1625.
