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Polygon Labs spends $250 million to acquire Coinme and Sequence, ‘foundational’ elements of its Open Money Stack

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Polygon Labs has announced a landmark expenditure of $250 million to acquire two companies deemed foundational to its long-term vision: Coinme and Sequence. This substantial investment is the cornerstone of Polygon’s strategy to construct the Open Money Stack (OMS), a comprehensive, decentralized financial infrastructure designed for mainstream adoption.

Coinme, a leading provider of crypto ATM services and fiat on-ramps, is essential for bridging traditional finance (TradFi) with the decentralized ecosystem. Its acquisition provides Polygon users with crucial, widespread accessibility, allowing for seamless and regulatory-compliant conversions between fiat currencies and digital assets directly onto the Polygon network. This move significantly addresses the friction points associated with onboarding new users who are not yet crypto-native.

Sequence, the second acquired entity, specializes in developing advanced Web3 infrastructure and user-centric wallets. Sequence’s technology will be integrated to drastically improve the user experience (UX) and security across the OMS. By simplifying key management, transaction signing, and developer interactions, Sequence will standardize the development of applications built on Polygon, making the ecosystem attractive for both enterprise deployments and retail consumer applications.

Polygon Labs executives emphasized that these acquisitions are not merely expansions but strategic necessity. The goal is to deliver an end-to-end financial system—from the fiat gateway provided by Coinme to the robust development tools and interfaces offered by Sequence—all built upon Polygon’s scalable blockchain technology. The $250 million allocation highlights the company’s commitment to accelerating the transition of global financial services onto decentralized rails, positioning the OMS as a direct competitor to existing legacy financial platforms.

Source: Polygon Labs spends $250 million to acquire Coinme and Sequence, ‘foundational’ elements of its Open Money Stack

Disclaimer: This content is generated via ZODIAC AI engine for informational purposes. While we strive for accuracy, we do not guarantee the completeness of the information. This is not financial advice. Decisions should be made based on your own judgment.

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