Polygon Labs has completed its acquisition of Coinme, giving the blockchain company a regulated route for converting US dollars into digital assets and back through its stablecoin payments business, according to Cointelegraph.
Licenses expand Polygon’s US reach
Polygon said its US payments operation now holds 37 money transmitter licenses and benefits from 11 state exemptions, providing coverage across 48 US states. The business is also registered with the Financial Crimes Enforcement Network, or FinCEN, as a money services business.
Money transmitter licenses are state-level authorizations that allow eligible companies to handle certain payment and money-transfer activities. In this case, the regulatory coverage gives Polygon’s payments platform a framework for moving between traditional currency and digital assets in a broad portion of the US market.
The company said the acquisition provides its stablecoin payments platform with a regulated way to convert dollars into digital assets and convert them back into dollars. Stablecoins are digital tokens designed to maintain a relatively stable value against a reference asset such as a fiat currency.
Coinme brings exchange and cash network
Coinme operates as a licensed crypto exchange and a cash-to-cryptocurrency platform. Its services allow users to buy and sell digital assets using cash, debit cards and bank transfers.
When Polygon first announced the planned acquisition, Coinme had more than one million users and a retail network covering 50,000 locations, according to Polygon. That infrastructure gives Polygon access to established channels for customers who want to move between conventional payment methods and crypto assets.
The transaction follows agreements announced in January to acquire both Coinme and wallet infrastructure provider Sequence for a combined amount of more than $250 million. Polygon also said some roles at Polygon Labs would be consolidated as part of the changes.
At the time, Polygon CEO Marc Boiron said the company needed the team to transition into a payments-focused blockchain company. The completed Coinme deal now adds the licensing and operating infrastructure needed for that direction in the United States.
Stablecoin payments platform targets businesses
Polygon’s Open Money Stack is designed to connect stablecoins with local currencies. Rahul Shinghal, co-founder and CEO of cross-border payments company Tazapay, described the platform as offering businesses “a more direct route between stablecoins and local currency.” Tazapay is among the platform’s first customers.
The new regulatory coverage matters because businesses using digital-asset payment infrastructure still need compliant ways to accept, convert and distribute funds in local currency. Polygon’s licenses and FinCEN registration address that part of the payments process, while Coinme contributes exchange capabilities and customer access.
Moneyiar market picture
Moneyiar data at 21:18–21:19 on October 15, 2026, showed Polygon (prev. MATIC), listed under the symbol POL, at $0.0957132674, up 0.01% over 24 hours but down 2.65% over seven days.
For comparison, Monad (MON) was $0.0230961349, down 3.95% in 24 hours and 5.8% over seven days. Ethereum Name Service (ENS) stood at $5.7616245266, up 0.2% over 24 hours and down 7.56% over seven days.
