Polygon Labs completes acquisition of Coinme, enters payment field to challenge Visa and Stripe

Polygon Labs has completed the acquisition of US encrypted payment service provider Coinme, aiming to enter the payment industry using stablecoin infrastructure. CEO Marc Boiron stated that the acquisition has enabled Polygon to gain control over customer relationships and capture intermediary income, and Polygon has transformed into a blockchain based fund transfer company with payments at its core. Polygon launched the Open Money Stack in January, which supports stablecoin payments and cross-border transfers, and plans to achieve profitability in regulated payment services by 2027. Visa's payment volume exceeded $12.3 trillion in fiscal year 2025, while Stripe's payment volume reached $1.9 trillion. Coinme helps Polygon gain more control over the exchange of cryptocurrencies, stablecoins, and fiat currencies. Its unified payment platform is currently in the technical preview stage, with early users including Tazapay, Mesh, Toku, and Kira. (Source: CoinDesk)