Polygon Labs Acquires Coinme to Launch Integrated 'Open Money Stack' for Global Payments

Polygon Labs has acquired Coinme to integrate U.S. money transmitter licenses directly into its Open Money Stack (OMS). For fintech professionals, this move signals a shift from purely decentralized infrastructure to a vertically integrated payments provider capable of bridging the gap between onchain stablecoin liquidity and traditional 48-state banking rails.

What was announced

Polygon Labs has completed the acquisition of Coinme, a move designed to support the full lifecycle of a payment from the moment fiat enters the system to the final payout. Through its U.S. payments business, Polygon now holds coverage across 48 states, supported by 37 state money transmitter licenses and 11 applicable exemptions. The business is also registered with FinCEN as a money services business.

This regulated access is being integrated into the Polygon Open Money Stack (OMS), a suite of tools including accounts and wallets for holding funds, infrastructure to route payments across different chains, and settlement rails for 24/7 value movement. By connecting these capabilities with banking and payout infrastructure, Polygon aims to allow payments teams to build complete flows through a single integration, reducing the need to manage multiple handoffs between intermediaries.

Several companies have already adopted the Polygon OMS for various financial use cases. Tazapay is using the infrastructure to shorten the path between stablecoins and local currency for its 1,000+ enterprise customers across 30 countries. Mesh is adding OMS on-ramps to its network of 300+ wallets and exchanges to facilitate movement between fiat and digital assets. Toku, a global payroll platform operating in over 100 countries, uses the stack to allow workers paid in stablecoins to convert earnings into local currency. Additionally, Kira is utilizing the stack to expand stablecoin options for clients using AI agents to manage U.S. banking and compliance tasks.

"For our customers, cross-border payments come down to two questions: when will the money arrive, and what will it cost? Open Money Stack gives us a more direct route between stablecoins and local currency, which means fewer handoffs in the corridors where our customers need it most."

Rahul Shinghal, Co-founder and CEO, Tazapay

The companies involved

Polygon Labs is a major developer of blockchain infrastructure, best known for the Polygon network and its suite of scaling solutions. The firm has established itself as a primary destination for institutional and retail decentralized finance (DeFi), recently focusing on the "Open Money Stack" to unify fragmented payment experiences. Polygon has been active in creating tools that allow developers to deploy their own chains and scaling solutions while maintaining interoperability.

Coinme is a U.S.-based cryptocurrency cash exchange and payments company. It has historically focused on making digital assets accessible through physical kiosks and digital platforms, building a robust regulatory footprint in the United States. Prior to this acquisition, Coinme operated as an independent entity, securing the money transmitter licenses and FinCEN registration that now form the backbone of Polygon’s regulated payments offering. This integration allows Polygon to transition from a technology provider to a regulated financial services participant in the U.S. market, providing the "last mile" connectivity between digital assets and traditional bank accounts.

What FF News has reported before

FF News has closely tracked Polygon’s expansion into mainstream financial services and its deepening relationship with Coinme. In July 2026, we reported that PayPal Expands PYUSD to Polygon Network to Revolutionize Cross-Border Business Payments, highlighting the network's growing utility for stablecoin transactions. This was followed in August 2026 by news that Coinme Appoints Fintech Veteran Laurent Reichert as CCO to Drive Global Expansion with Polygon, a key indicator of the strategic alignment between the two firms. More recently, in September 2026, we covered how Stable.com and Polygon Enable Direct Bank Transfers from Self-Custody Wallets, further demonstrating the network's focus on bridging the gap between self-custody and traditional banking rails.

What this means

This acquisition marks the end of the "infrastructure-only" era for major blockchain labs. By acquiring a licensed money transmitter, Polygon is directly challenging traditional payment processors and "crypto-as-a-service" providers who have long sat between blockchain protocols and the banking system. The move puts pressure on competitors who rely on third-party partners for fiat on-and-off ramps, as Polygon can now offer a vertically integrated, regulated stack. It raises a critical question for the sector: will other protocol developers be forced to become regulated financial institutions to remain competitive in the cross-border and payroll markets? The industry is moving toward a model where the underlying chain and the regulatory license are increasingly inseparable.