Polygon Labs has announced the completion of its acquisition of cryptocurrency startups Coinme and Sequence, with a total deal value exceeding $250 million. This strategic move marks a pivotal step for Polygon as it enters the stablecoin payments arena, aiming to compete directly with payment giants like Stripe. The two companies bring essential assets: Coinme holds money transmitter licenses across multiple U.S. states and operates a crypto ATM network, while Sequence provides wallet and on-chain infrastructure services. Following the acquisition, Polygon gains compliant operational capabilities spanning 48 U.S. states.
Core Acquisitions
On January 13, 2026, the blockchain industry witnessed a major merger. Polygon Labs officially announced it had acquired two crypto startups, Coinme and Sequence, in a deal valued at over $250 million. Polygon did not disclose the specific purchase price for each company, nor did it specify whether the transaction was made in cash, equity, or a combination of both.
Marc Boiron, CEO of Polygon Labs, and Sandeep Nailwal, founder of the Polygon Foundation, stated that this acquisition is a cornerstone of the network’s stablecoin strategy. Both executives made it clear that this move positions Polygon Labs in direct competition with payment powerhouse Stripe.
Strategic Puzzle
The addition of Coinme and Sequence equips Polygon with critical capabilities for the stablecoin payments ecosystem.
Founded in 2014, Coinme is one of the first licensed digital currency exchanges in the United States. The company holds money transmitter licenses and compliance infrastructure covering 48 states. Through a physical network of over 50,000 retail locations, Coinme provides a vital bridge for converting cash to digital assets. Beyond its licenses and network, Coinme offers enterprise-grade APIs and SDKs, enabling financial institutions and payment apps to deliver compliant, white-label crypto services. Its investors include industry heavyweights like Pantera, Digital Currency Group, and Circle Ventures.
Sequence specializes in blockchain infrastructure, focusing on smart wallets and cross-chain technology. Its "Trails" platform enables one-click cross-chain transactions and payments. The company is backed by prominent investors such as Brevan Howard Digital, Coinbase, and Consensys.
Combined, the two companies have processed over $100 million in offline sales and facilitated more than $2 trillion in on-chain value transfers.
Open Money Stack
Polygon sees this acquisition as a key step in building an "open money stack." This stack aims to unify global stablecoin liquidity, payment processing, and regulatory controls. At the heart of this strategy is the transformation of stablecoins from mere crypto trading instruments into the backbone of global financial settlement.
Sandeep Nailwal, founder of the Polygon Foundation, described their approach as a "reverse Stripe" model. "We aspire for Polygon to become the world’s largest stablecoin liquidity channel," Nailwal added.
Competitive Landscape
The stablecoin payments market is emerging as a new battleground for both traditional fintech firms and blockchain companies.
Over the past year, Stripe has built its stablecoin infrastructure through a series of strategic acquisitions. In October 2024, the company announced the $1.1 billion acquisition of stablecoin startup Bridge. By September 2025, Stripe launched its Open Issuance platform, powered by Bridge’s technology. Meanwhile, Visa and Mastercard are also making aggressive moves into the stablecoin space. In December 2025, Visa rolled out USDC settlement services in the U.S., with plans for further expansion in 2026.
Payment giants are racing to establish stablecoin infrastructure, each vying for dominance in this evolving sector.
Market Opportunity
Industry forecasts project massive growth potential for the stablecoin payments market. By 2030, stablecoin transaction volumes could reach $4 trillion. This expansion is driven by regulatory clarity, especially following the passage of the U.S. GENIUS Act and the European Union’s MiCA regulation.
Polygon’s on-chain stablecoin supply reached approximately $3.3 billion by the end of 2025, marking a three-year high. The network also accounts for 52% of the total USDT supply across all chains.
"By 2026, regulated dollar stablecoins will be directly embedded into mainstream payment systems. Banks, fintech firms, and retailers will all make extensive use of them," predicts Adrian Wall, Managing Director of the Digital Sovereignty Alliance.
Polygon’s near-term strategy will focus on B2B payments between enterprises, with a later shift toward consumer services. Boiron commented, "In five to ten years, we’ll see whether credit cards are still necessary. For now, we can collaborate quite effectively to expand the market."
As of January 14, 2026, Gate market data shows Ethereum (ETH) trading at $3,336.54, up 7.54% over the past 24 hours. As the foundational layer for the Polygon network, Ethereum’s strong performance aligns with broader ecosystem growth. GateToken (GT) is priced at $10.79, with a market cap of $1.07 billion and a 4.76% gain in the past 24 hours. Stablecoins are evolving from speculative assets into essential infrastructure for emerging markets. By combining Coinme’s physical cash channels with Sequence’s digital cross-chain technology, Polygon is well-positioned in the race to bridge traditional finance and blockchain. While Stripe extends from applications down to the blockchain layer, Polygon is building upward from blockchain infrastructure to payment applications. The intersection of these two approaches marks the new frontier of the multi-trillion-dollar global payments market.
