Polygon Labs acquires Coinme and Sequence for $250M

Polygon Labs has acquired Bitcoin ATM operator Coinme and crypto wallet infrastructure provider Sequence for $250 million, the company told The Block. The move is aimed at bolstering its Open Money Stack, a modular framework for cross-border stablecoin payments. Through the acquisition, Coinme and Sequence will provide key features for the stack, including cash and crypto on- and off-ramps and wallet infrastructure. While the terms of the deal were not disclosed, Coinme will operate independently as a wholly-owned subsidiary once the acquisition is finalized.