ChainCatcher reports that Polygon Labs has announced the completion of its acquisition of Coinme, a U.S.-regulated crypto payment service provider. Marc Boiron, CEO of Polygon Labs, stated that the company’s regulated payment business is expected to become profitable by 2027. This move signifies a strategic expansion of its business focus from blockchain infrastructure into payment processing, with the transaction officially completed on Wednesday. Boiron noted that, following the acquisition of Coinme, Polygon can now handle conversions between cryptocurrencies, stablecoins, and fiat currencies using its own infrastructure, enabling it to own customer relationships and capture fees from conversions and transfers—revenue that previously flowed to third-party payment intermediaries. He emphasized that the company no longer sees itself as competing with blockchain, but rather as “a payments company that uses blockchain to move money.” This acquisition is part of Polygon’s broader business transformation, which began in January with the launch of the Open Money Stack framework designed to support stablecoin payments and simplify cross-border transfers. Polygon is now entering the payments industry dominated by companies such as Visa and Stripe—Visa processed over $12.3 trillion in payment volume in fiscal year 2025, while Stripe reached $1.9 trillion. Meanwhile, Stripe is building its own stablecoin payment infrastructure, Swift is developing blockchain infrastructure with major banks, and Visa has already integrated blockchains like Polygon into its stablecoin settlement network. Early adopters of Polygon’s payment platform include cross-border payment provider Tazapay, crypto payment network Mesh, global payroll platform Toku, and payment infrastructure firm Kira. Its unified integration remains in technical preview and has not yet been fully opened to customers.
Polygon Labs Acquires Coinme to Enter the Visa- and Stripe-Dominated Payment Sector
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Summary
Blockchain news broke today as Polygon Labs finalized the acquisition of the regulated crypto payment firm Coinme. The deal marks a strategic entry into the payment sector, currently dominated by Visa and Stripe. CEO Marc Boiron stated that the regulated payment business could become profitable by 2027. Polygon now handles crypto, stablecoin, and fiat conversions internally, capturing fees previously collected by third-party intermediaries. The company plans to leverage its Open Money Stack framework—launched in January 2026—to streamline cross-border payments. Early adopters include Tazapay, Mesh, Toku, and Kira, though the platform remains in technical preview. This blockchain upgrade aims to solidify Polygon’s position in the evolving payment infrastructure.
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