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🟣 Polygon becomes a payment platform
💥 Polygon Labs announced the acquisition of crypto payment company Coinme and wallet infrastructure provider Sequence for $250 million.
The combined company will gain the licensed Coinme network, covering 48 states and more than 50,000 retail kiosks and ATMs for cash-to-cryptocurrency exchanges in the US.
"We are becoming a regulated payment platform, and our goal is to offer a fully vertically integrated stack that allows anyone to use stablecoins for transferring money anywhere," said Polygon Labs CEO Mark Buaron.
✅ The deal could position Polygon among payment giants like Stripe. However, according to Buaron, the company is focused on collaborating with established players as the adoption of stablecoins develops.