Polygon Labs Accelerates Crypto Payments Strategy with $250M Double Acquisition
Quick take:
- The structure of the deals was also not disclosed, raising the question of whether its an all-cash or all-equity deal, or a mixture of both.
- Polygon said the acquisitions are meant to advance its stablecoin strategy, according to CEO Marc Boiron and Polygon Foundation founder Sandeep Nailwal.
- Coinme, which holds a suite of money transmitter licenses in the U.S., specializes in converting cash into crypto and is known for its work with crypto ATMs, while Sequence builds crypto wallet infrastructure.
Polygon Labs, the developer of the enterprise-grade infrastructure for global blockchain-based payments, has acquired two crypto startups in a deal worth more than $250 million.
