Core Insights - Polygon Labs announced the acquisition of Coinme and Sequence for over $250 million to build a regulated payments platform for stablecoin transactions in the U.S. [1] - The acquisitions are part of Polygon's Open Money Stack, a payments toolkit aimed at enhancing its financial services [2] The Acquisitions - Coinme, founded in 2014, operates cash-to-crypto kiosks and holds federal money services registration with FinCEN. It will remain a wholly owned subsidiary post-acquisition [3] - Sequence, established in 2017, provides wallet technology for simplifying crypto transfers across blockchain networks and has notable investors like Brevan Howard Digital and Coinbase [4] Strategic Context - Polygon's strategy contrasts with that of payments giant Stripe, as Polygon is enhancing its existing blockchain infrastructure by adding regulated financial services [5] - The acquisitions follow the signing of the Genius Act stablecoin legislation in July 2025, indicating a supportive regulatory environment for such initiatives [6] Coinme's Regulatory History - Coinme has faced regulatory actions, including a $300,000 penalty from California for exceeding daily transaction limits and a cease-and-desist order from Washington regarding customer fund misrepresentation [7][8] - Despite its regulatory challenges, Polygon's CEO expressed confidence in Coinme's compliance practices [8]