Polygon Labs Completes Acquisition of Coinme to Enter Payment Market

Polygon Labs has announced the completion of its acquisition of the U.S. cryptocurrency payment service provider Coinme, aiming to leverage stablecoin infrastructure to enter the payment market dominated by Visa and Stripe. Polygon Labs CEO Marc Boiron stated that this acquisition will help the company gain control over customer relationships and capture revenue that previously flowed to intermediaries. Polygon Labs has become a blockchain company focused on payments, launching Open Money Stack in January to support stablecoin payments and cross-border transfers, and charging fees for currency exchange and fund transfers. Marc Boiron expects that regulated payment operations are likely to become profitable by 2027. Data shows that Visa's payment volume exceeded $12.3 trillion in fiscal year 2025, while Stripe's payment volume reached $1.9 trillion. By acquiring Coinme, Polygon Labs will gain more control over business processes related to crypto assets, stablecoins, and fiat currency exchanges. Polygon Labs' unified payment platform is currently still in the technical preview phase and has not been fully opened to the public, with early users including Tazapay, Mesh, Toku, and Kira.

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