Polygon Labs acquires two crypto startups Coinme and Sequence, with a total acquisition amount exceeding 250 million USD

Polygon Labs announced that it has completed the acquisition of cryptocurrency startups Coinme and Sequence, with a total acquisition price exceeding $250 million. However, Polygon Labs declined to disclose the specific acquisition prices for each company and did not specify whether the transactions were conducted in cash, equity, or a combination of both.

Polygon Labs CEO Marc Boiron and Polygon Foundation founder Sandeep Nailwal stated that the acquisitions aim to support the stablecoin strategy of the blockchain network. Coinme holds a range of remittance licenses in the United States, while Sequence is focused on building blockchain infrastructure, including cryptocurrency wallets.