Polygon Labs has completed its acquisition of Coinme, folding regulated U.S. money transmission capability into the Open Money Stack and extending coverage across 48 U.S. states. The move completes part of a $250 million combined deal announced in January to acquire Coinme and wallet infrastructure provider Sequence.
With the acquisition, Polygon gains 37 state money transmitter licenses, 11 applicable exemptions, and registration with the Financial Crimes Enforcement Network as a money services business. CEO Marc Boiron said the deal “brings regulated U.S. money movement into Open Money Stack,” supporting payments from the moment funds arrive until the recipient is paid.
Open Money Stack combines fiat on- and off-ramps, wallets, cross-chain routing, and settlement through a single integration. Early customers include Tazapay for cross-border business payments, Mesh for on-ramps across more than 300 wallets and exchanges, Toku for stablecoin-linked payroll and local-currency payouts across more than 100 countries, and Kira for expanding stablecoin access to U.S. bank accounts and payment channels.
Polygon also said its chain has surpassed $3 trillion in cumulative stablecoin transfer volume. While Open Money Stack components are operational, the unified integration remains in technical preview for select customers.
