Polygon Labs Becomes a US-Regulated Payments Company by Buying Coinme

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• Polygon Labs completed its acquisition of Coinme on October 14, 2026, bringing 37 US state money-transmitter licenses and FinCEN MSB registration into its infrastructure
• The combined entity launched under the name “Open Money Stack,” offering 48-state coverage through a mix of direct licenses and 11 regulatory exemptions
• Tazapay, Mesh, Toku and Kira are named as the first customers using the combined Polygon-Coinme payments infrastructure

Polygon Labs announced on October 14, 2026 that it has completed its acquisition of Coinme, a licensed cryptocurrency payments company, folding Coinme’s extensive regulatory footprint directly into Polygon’s own infrastructure stack. The deal brings Polygon a set of 37 US state money-transmitter licenses along with registration as a money services business with the Treasury’s Financial Crimes Enforcement Network, giving the combined entity a regulatory foundation that would otherwise take years and substantial legal resources to build from scratch.

Branded the “Open Money Stack,” the combined infrastructure claims coverage across all 48 contiguous US states, achieved through a combination of Coinme’s directly held licenses in 37 states plus 11 additional states where the companies say regulatory exemptions apply rather than requiring a separate license. Money-transmitter licensing is one of the most significant regulatory hurdles facing any company that wants to move funds, including cryptocurrency, on behalf of customers in the United States, since each state maintains its own separate licensing regime with different capital, bonding and compliance requirements.

Polygon Labs named four companies as the first customers building on top of the newly combined Open Money Stack: Tazapay, Mesh, Toku and Kira. While the announcement did not detail exactly what each of these companies plans to build using the infrastructure, their inclusion as launch customers signals that Polygon intends to position the Open Money Stack as a foundational layer other fintech and payments companies can plug into, rather than a product aimed solely at end consumers.

Coinme has historically operated as one of the larger licensed cryptocurrency cash-to-crypto services in the United States, notably through partnerships that let customers buy and sell crypto using cash at kiosks and retail locations, giving it an established base of regulatory relationships and compliance infrastructure across a wide swath of US states. By acquiring that existing licensed entity outright rather than pursuing its own state-by-state licensing process, Polygon Labs gains a much faster path to operating a regulated payments business in the United States than building the equivalent compliance infrastructure independently would have required.

The acquisition reflects a broader pattern among blockchain infrastructure companies of acquiring regulated financial entities as a shortcut to compliant market access, rather than attempting to navigate the licensing process from the ground up. The announcement, published on Polygon’s official blog, did not disclose the financial terms of the Coinme acquisition.