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Polygon completes acquisition of Coinme worth over 250 million USD, expanding crypto payment operations in the US.
On October 15, Polygon Labs announced that it had completed the acquisition of Coinme, a licensed cryptocurrency trading service provider in the US, in a deal worth over 250 million USD announced in January 2026. The acquisition helps Polygon expand its capabilities to connect fiat and digital assets, while also laying the foundation for the company to enhance blockchain payment operations in the US market.
According to the announced information, after completing the acquisition, Polygon can conduct conversion activities between USD and digital assets in 48 US states, based on 37 money transfer licenses and 11 cases exempt from licensing requirements. This is a notable advantage in the context of cryptocurrency businesses increasingly needing to meet complex legal requirements when providing payment and money transfer services.
Coinme currently has over 1 million users and a network of about 50,000 retail points. Owning this business allows Polygon to access the distribution system and infrastructure for digital asset transactions already established in the US, rather than just focusing on developing blockchain technology.
The goal of Polygon Labs is to become one of the leading blockchain companies in the payment sector. Through Coinme, the company can expand its ability to support users in converting fiat money to cryptocurrency and vice versa, thereby connecting the traditional financial system with blockchain-based applications.
One of the major challenges for cryptocurrency businesses in the US is the money transfer management system divided by state. Companies wishing to provide digital asset conversion services often have to meet different licensing and compliance requirements depending on the scope of operations. Therefore, taking over a business that already has a network of licenses and operations in multiple states can help Polygon shorten the process of expanding services.
However, owning Coinme does not mean that all new products or services of Polygon are automatically allowed to be deployed across the entire US. The scope of operations still depends on the type of service, the conditions of each license, and the regulations applicable to each specific product.
