Polygon acquires Coinme to gain 37 money transfer licenses and 11 state regulatory exemptions for its payments infrastructure.
Regulation & Gov ·
Polygon Labs has completed its acquisition of Coinme, bringing 37 state money transmitter licenses and 11 applicable exemptions under a single platform. The company is now registered with FinCEN as a money services business and has regulatory coverage across 48 states. This acquisition forms a core component of Polygon Open Money Stack, the company's strategy to connect traditional payment systems with onchain infrastructure.
The Open Money Stack integrates regulated on- and off-ramps with wallet infrastructure, settlement systems, and banking connectivity to enable end-to-end payment flows through a single integration. Rather than requiring businesses to manage multiple handoffs between traditional finance and blockchain systems, the stack aims to consolidate onboarding, fund custody, cross-chain routing, and payout capabilities. The platform addresses the full lifecycle of money in motion—entry through banks or cash, movement onchain, and final delivery to usable accounts.
Early adopters including Tazapay, Mesh, Toku, and Kira have begun building on the stack for use cases spanning cross-border business payments, account funding, payroll, and stablecoin-to-local-currency conversion. Tazapay, which serves over 1,000 enterprises across 30 countries, is using the infrastructure to reduce intermediaries in international payment corridors. The depth of integration across compliance, settlement, and custody remains to be tested at scale.