Polygon Completes Coinme Acquisition, Bringing Regulated Payments to 48 U.S. States

Published October 15, 2026, 02:20 UTC. Based on Polygon Labs' announcement of October 14, 2026; a company statement shared with The Block; and reporting by Cointelegraph, The Block, crypto.news and Blockonomi.

Polygon Labs has completed its acquisition of Coinme, handing its stablecoin payments platform a regulated way to move dollars into digital assets and back across 48 U.S. states. The company said Wednesday that its U.S. payments business now holds 37 state money transmitter licenses and 11 exemptions, and is registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business.

The 37 licenses behind 48 states

Coinme is a licensed crypto exchange and cash-to-cryptocurrency platform. It lets users buy and sell digital assets with cash, debit cards and bank transfers, and it runs a retail footprint of about 50,000 locations across the United States. At the time the deal was announced, Coinme had more than one million users, according to Polygon.

The acquisition drops that regulated on-ramp directly into Polygon's Open Money Stack. The licenses and exemptions give Polygon coverage in 48 states, while FinCEN registration covers the federal layer for U.S. fiat flows, the company said.

What Open Money Stack does

Open Money Stack is Polygon's pitch for a single-integration payments platform. It combines fiat on- and off-ramps, digital wallets, cross-chain transaction routing and settlement, so a business can accept money in, settle in stablecoins and pay recipients out in local currency without stitching together several providers.

"Completing the Coinme acquisition brings regulated U.S. money movement into Open Money Stack, giving us more of the infrastructure to support a payment from the moment funds come in to the moment the recipient gets paid," Polygon Labs CEO Marc Boiron said in the company statement.

Polygon says its chain has already handled more than $3 trillion in cumulative stablecoin transfers, according to an overview of the announcement by Particle News. The new stack converts that on-chain volume into a regulated fiat corridor.

The first four customers

Polygon named four companies adopting Open Money Stack: Tazapay, Mesh, Toku and Kira. Tazapay is using the infrastructure for cross-border business payments, while Mesh is adding Polygon's fiat on-ramp to its network of more than 300 wallets, exchanges and financial services, according to The Block's reporting of the statement.

Toku plans to use the platform to link stablecoins with compliant payroll and local-currency payouts across more than 100 countries, while Kira is using it to expand stablecoin options for clients accessing U.S. bank accounts and payment channels.

"Open Money Stack gives businesses a more direct route between stablecoins and local currency," said Rahul Shinghal, co-founder and CEO of cross-border payments company Tazapay, one of the first customers quoted by Polygon.

The $250 million pivot to payments

The closing completes part of a combined deal worth more than $250 million announced in January to buy Coinme and wallet infrastructure provider Sequence. At the time, Boiron said Polygon needed the team to transition into a "leading payments-focused blockchain company," a pivot that included job cuts at Polygon Labs, according to Cointelegraph.

The deal leaves Polygon holding money transmission licenses, wallet technology and cross-chain routing inside one payments business, turning the company from a blockchain network into a regulated U.S. payments player.

This article is news reporting and is not investment advice.

Sources

• Polygon Labs announcement, October 14, 2026, primary source for the Coinme acquisition completion, the 37 licenses and 11 exemptions, FinCEN registration, and the first four Open Money Stack customers
• The Block, October 14, 2026, primary reporting of Polygon's statement on the $250 million combined deal with Sequence and the Tazapay, Mesh, Toku and Kira use cases
• Cointelegraph, October 15, 2026, secondary source for the January agreement details, Coinme's one million users and 50,000 retail locations, and Boiron's "payments-focused blockchain company" remark
• crypto.news and Blockonomi, October 15, 2026, secondary sources for the 48-state coverage and the Open Money Stack rollout