Polygon Labs announced Wednesday, Oct. 14, that it has completed its acquisition of Coinme, securing regulatory coverage across 48 U.S. states through 37 state money transmitter licenses and 11 applicable exemptions. The business is also registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business.
The acquisition strengthens Polygon's strategy to connect blockchain-based payments with traditional financial infrastructure. Through the combined platform, businesses can move money between banks, payment networks, and stablecoins using a single integration.
Open Money Stack Platform
Polygon's Open Money Stack combines digital wallets, payment routing, blockchain settlement, and banking integrations. The platform enables businesses to manage payments from initial fiat acceptance through bank transfers, cards, or cash deposits to onchain settlement and local currency distribution.
Early adopters of the platform include Tazapay, Mesh, Toku, and Kira. Tazapay, which serves more than 1,000 enterprises and fintech companies across over 30 countries, is integrating Polygon's wallet and fiat conversion infrastructure for cross-border transactions. Mesh, a crypto payments network connecting more than 300 wallets, exchanges, and financial services, is adding Polygon's fiat on-ramp capabilities.
Global payroll provider Toku is using Polygon's wallet and payout infrastructure to help workers receive stablecoin payments and convert earnings into local currencies. Kira, an AI-powered financial services platform, is integrating the Open Money Stack to expand stablecoin access alongside U.S. banking services including ACH, Fedwire, and Fednow payments.
By combining Coinme's regulated U.S. operations with existing blockchain technology, Polygon is positioning itself as an infrastructure provider for businesses seeking to incorporate stablecoins without building their own banking and compliance integrations.
