Polygon Labs has finalized its acquisition of Coinme, granting the blockchain technology developer access to regulated payment infrastructure across 48 US states. This strategic move advances Polygon’s transition from pure blockchain transactions to a more comprehensive financial services provider that connects traditional bank accounts, cash systems, and stablecoins within one framework.
US Payment Licensing and Regulatory Expansion
With the acquisition, Polygon now holds 37 state money transmitter licenses as well as 11 exemptions, widening its legal ability to facilitate money movement in nearly every US jurisdiction. Coinme, a fintech startup established in 2014, is also registered as a money services business with the US Treasury’s Financial Crimes Enforcement Network (FinCEN). However, while federal registration confirms regulatory oversight at the national level, individual state requirements continue to dictate the specific terms of operations.
The integration addresses a well-recognized gap for digital-dollar payments, since blockchain-based transfers often do not cover all customer funding, withdrawal, or settlement needs. By adding fiat access to digital wallets and blockchain settlement, Polygon aims to streamline both deposits and withdrawals within a unified, regulated environment—an increasingly important feature for cross-border and domestic payment businesses.
Polygon Labs has entered the US payments sector following the completion of its Coinme acquisition. The deal brings regulated money movement to the Polygon Open Money Stack platform.
The Open Money Stack solution seeks to create a direct link between regulated entry points, cash funding, bank services, and blockchain token transfers. This is intended to improve usability for both companies and users needing access to established payment rails, particularly when financial institutions in different countries are involved.
Coinme’s Network and User Base Join Polygon
Coinme’s operations cover more than one million existing app users and approximately 50,000 retail locations where users can access digital asset services. Prior to the acquisition, Coinme specialized in enabling crypto purchases and sales through cash, debit cards, and banking partnerships at physical outlets and ATMs across the US.
By combining Coinme’s licensed operations with Polygon’s existing blockchain infrastructure, the Open Money Stack will support customer deposits, stablecoin conversions, digital wallets, and seamless transaction routing for businesses and individuals alike.
Mini dictionary: Coinme is a US-based fintech company providing cryptocurrency access through licensed money services, including cash-in and cash-out points at thousands of retail locations nationwide.
The agreement stems from Polygon’s earlier announcement in January to acquire both Coinme and the wallet provider Sequence for a combined sum of over $250 million, with the specific cost attributed to Coinme remaining undisclosed.
Payment Platforms Join Polygon’s Stablecoin Stack
Several firms are early adopters of Polygon’s integrated payment system. Tazapay, which delivers cross-border payments and serves clients in over 30 countries, utilizes Polygon’s infrastructure to facilitate stablecoin settlements for its global business clients. Mesh has connected its platform to Polygon for additional fiat funding options across its ecosystem of more than 300 wallets, exchanges, and financial applications.
Toku is leveraging Polygon’s wallet and stablecoin payout features to enhance payroll operations in more than 100 countries, making it possible for employees to receive stablecoin payments and convert them to local currencies. Kira, another partner, is advancing stablecoin payment channels alongside established payment solutions such as US bank accounts, ACH, Fedwire, and the Federal Reserve’s real-time FedNow system.
Mini dictionary: Tazapay is a global payments platform offering cross-border transaction solutions, with a focus on supporting stablecoin and digital asset payments for enterprises.
These integrations position Polygon as a facilitator for businesses seeking unified access to both digital and traditional payment infrastructure. Operational transaction volumes and revenue figures for Tazapay, Mesh, Toku, and Kira within Open Money Stack have not yet been made public, as Polygon continues a technical preview rollout for selected clients.
| Company | Main Service | Coverage | Integration Focus |
|---|---|---|---|
| Coinme | Crypto and fiat retail access | 48 US states, 50,000 locations | Retail and digital onboarding, regulatory licensing |
| Tazapay | Cross-border payments | 30+ countries | Stablecoin settlements |
| Mesh | Account funding | 300+ wallets, exchanges | Fiat funding integration |
| Toku | Payroll solutions | 100+ countries | Wallet and payout functions |
| Kira | Dollar access | US and international | Stablecoin expansion, traditional transfers |
Among the first businesses adopting Polygon Open Money Stack are Tazapay for cross-border payments, Mesh for account funding, Toku for global payroll, and Kira for US dollar access. Full roll-out is underway, with unified integration now in technical preview.
The Open Money Stack’s expanded capabilities mark Polygon’s move into regulated payments, positioning the company to bridge the digital asset and traditional finance sectors with a compliant, licensed infrastructure.
