Polygon Coinme Acquisition Completes Regulated US Stablecoin Payments Coverage

On October 14, 2026, Polygon Labs completed the acquisition of Seattle-based Coinme, adding 37 state money transmitter licenses and FinCEN registration to its Open Money Stack platform. The move provides Polygon with coverage for fiat on- and off-ramps linked to stablecoins across 48 U.S. states.

Polygon Coinme Acquisition Details and Licensing Coverage

The transaction formed the second part of a combined agreement valued at more than $250 million that Polygon Labs announced on January 13, 2026. Coinme contributed its existing network of cash-to-crypto services and more than one million users to the deal. Polygon reported that its blockchain has already processed over $3 trillion in cumulative stablecoin transfer volume, positioning the acquisition as an extension of existing on-chain activity into regulated fiat rails.

Coinme’s licenses and 11 exemptions allow the Open Money Stack to support bank, card, and cash transfers tied directly to stablecoin settlement. Polygon Labs CEO Marc Boiron described the integration as enabling end-to-end payment flows from initial deposit through final receipt. Early platform users already include Tazapay for cross-border business payments, Mesh for wallet on-ramps, Toku for global payroll, and Kira for U.S. banking access paired with stablecoin options. The Open Money Stack remains live, with unified technical integration available in preview for select customers.

Polygon stated that the licenses remove previous barriers for enterprise and fintech participants seeking compliant stablecoin payments inside the United States. The acquisition does not alter the separate closure timeline for the earlier Sequence wallet infrastructure component of the overall agreement.

Background on Coinme Operations and Regulatory Context

Coinme began operations in 2014 and maintained approximately 50,000 retail locations at the time of the acquisition announcement. Its kiosk and payments services operated under the money services business registration held with FinCEN. Polygon described the addition of these capabilities as a direct step toward broader enterprise adoption of stablecoin-based payroll and cross-border settlement.

One week before the closing, Coinme entered a multistate consent order covering 34 jurisdictions that required $2.5 million in payments and an independent AML/BSA review. The order also directed Coinme to cease virtual currency kiosk operations in Georgia by January 1, 2027. Polygon has not disclosed any immediate operational changes resulting from the order.

The Open Money Stack now combines Coinme’s licensed fiat infrastructure with Polygon’s existing stablecoin settlement rails. This structure supports the platform’s stated goal of handling payments from initial funding through final disbursement without requiring separate external providers for each leg of the transaction.

Enterprise Adoption Path and Platform Positioning

Polygon positioned the completed acquisition as preparation for expanded use of the Open Money Stack by fintech firms and larger enterprises handling stablecoin payments. No specific volume targets or rollout timelines were released alongside the announcement. The company continues to highlight existing adopters as proof of demand for integrated on-chain and off-chain payment rails.

Market participants tracking U.S. stablecoin infrastructure have noted that licensed money transmission coverage reduces friction for payroll and vendor payments that convert between fiat and stablecoins. Polygon’s reported $3 trillion in historical stablecoin volume provides a measurable base that the new licenses can now connect to regulated banking channels in most states.

Further platform updates are expected to focus on technical integration between the newly acquired licenses and the Open Money Stack rather than additional geographic expansion within the United States. Polygon has indicated that the combined capabilities will support both domestic and cross-border flows already handled by early OMS users.