Polygon Gains 37 US Money Transmitter Licenses After Completing Coinme Deal

Polygon Labs has completed its acquisition of Coinme, expanding its regulated payments infrastructure across 48 U.S. states. The transaction gives Polygon access to 37 state money transmitter licenses and 11 applicable exemptions.

Announced on October 14, 2026, the deal strengthens Polygon’s push into stablecoin payments and traditional financial services. Its U.S. payments business also holds registration with the Financial Crimes Enforcement Network (FinCEN) as a money services business.

Coinme Acquisition Expands Polygon’s Regulatory Reach

The acquisition represents a major step in Polygon’s strategy to connect blockchain technology with conventional payment networks. Coinme provides cryptocurrency exchange services that allow customers to convert cash and other payment methods into digital assets.

Polygon initially announced plans to acquire Coinme and blockchain infrastructure provider Sequence in January 2026. The combined transactions were valued at more than $250 million, although Polygon did not disclose Coinme’s individual purchase price.

The regulatory expansion allows Polygon to support more payment activities through its Open Money Stack platform. Businesses can use the infrastructure to move funds between bank accounts, digital wallets, stablecoins, and local currencies.

Polygon Expands Stablecoin Payment Infrastructure

Polygon’s Open Money Stack combines regulated payment access, wallet infrastructure, blockchain settlement, and cross-chain transaction routing. The platform aims to simplify financial transfers by connecting these services through a single integration.

Several businesses have already started adopting the infrastructure for different financial applications. Tazapay, Mesh, Toku, and Kira are among the first companies integrating Polygon’s payment technology.

Tazapay uses the platform for international business payments, while Mesh is expanding digital asset funding options. Meanwhile, Toku supports global payroll services, and Kira connects stablecoin transactions with U.S. banking infrastructure.

Stablecoin Adoption Drives Broader Business Strategy

The acquisition comes as blockchain companies increasingly compete to provide payment infrastructure for financial institutions and businesses. Stablecoins offer an alternative settlement method that can reduce intermediaries and support transactions outside conventional banking hours.

However, regulatory compliance remains essential for companies connecting digital assets with traditional currencies. Polygon’s expanded licensing coverage could help businesses integrate blockchain payments without independently developing every component of the underlying infrastructure.

Polygon says its Open Money Stack services are operational, although the unified integration remains in technical preview for selected customers. The Coinme acquisition positions the company to compete more directly in the growing market for regulated stablecoin payments.