Polygon Labs Bolsters Stablecoin Payments Push, Acquiring Coinme and Sequence

Polygon Labs has initiated a significant strategic maneuver aimed at dominating the real-world utility of stablecoin payments, announcing the acquisition of key infrastructure providers Coinme and Sequence. This dual acquisition is designed to bridge the gap between traditional finance and the high-speed, low-cost environment of the Polygon network.

The acquisition of Coinme, a prominent platform known for its extensive network of physical crypto kiosks and ATMs, immediately addresses the critical challenge of fiat on-ramps. By integrating Coinme’s physical network, Polygon aims to enable consumers worldwide to seamlessly convert cash directly into Polygon-native stablecoins (such as USDC) for instant use in commerce and remittances. This focus on accessibility targets mass retail adoption and markets with traditionally low banking penetration.

Simultaneously, the integration of Sequence, a leader in smart wallet infrastructure and developer tooling, focuses on refining the user experience (UX). Sequence’s technology allows for sophisticated, non-custodial wallet solutions that reduce complexity, potentially abstracting away gas fees and cumbersome transaction signing processes for everyday users. This is crucial for achieving a Web2-like user experience necessary for mainstream payment adoption.

Polygon Labs views the synergy between Coinme’s robust physical access and Sequence’s cutting-edge digital infrastructure as the foundational architecture for the future of decentralized payments. The move solidifies Polygon’s commitment to positioning stablecoins not just as tools for decentralized finance (DeFi), but as the preferred rails for global commerce and consumer transactions.

Source: Polygon Labs Bolsters Stablecoin Payments Push, Acquiring Coinme and Sequence