Overview
- The Coinme acquisition was completed Wednesday and brings 37 state money‑transmitter licenses plus 11 exemptions, giving Polygon regulated payments coverage across 48 U.S. states.
- The acquired business is registered with FinCEN as a money services business and previously reported more than one million app users and access to about 50,000 U.S. retail locations.
- Polygon has folded Coinme’s licensed fiat rails into its Open Money Stack, which already runs separate on‑ramps, wallets, cross‑chain routing and stablecoin settlement while the single unified integration remains in technical preview for select customers.
- Polygon named Tazapay, Mesh, Toku and Kira as the first customers piloting the stack for cross‑border payments, account funding, payroll and U.S. dollar banking services.
- The platform builds on prior moves such as the Sequence acquisition and added chain support (including TRON and PYUSD) to connect bank accounts, cash channels and stablecoins at scale as Polygon pursues broader commercial rollout and profitability goals.