Polygon, an L2 scaling solution provider, has announced a landmark achievement in its regulatory endeavors. Polygon has become a regulated platform for payments in the United States with the acquisition of the payment entities Sequence and Coinme. As Polygon pointed out in its official social media announcement, the development permits it to bring real-world utility on-chain with seamless onboarding and regulated capital movement. Hence, the move seeks to offer rapid money transfers anywhere while enabling direct capital usage on-chain.

Polygon Purchases Sequence and Coinbase to Become Regulated Payment Entity in U.S.

Sequence and Coinme’s acquisition has made Polygon a regulated payment company in the United States. By purchasing these payment firms, Polygon has become a U.S.-regulated payment entity, establishing the “Polygon Open Money Stack. It is a vertically integrated agenda for large enterprises, fintech platforms, and banks. The stack merges blockchain infrastructure and regulated capital services, permitting traditional financial companies to efficiently interact with robust on-chain mechanisms without any friction.

Apart from that, Polygon offers compliant fiat off- and on-ramps to connecting the long-standing gap existing between Web3 applications and Web2 finance. This approach highlights a wider industry trend toward enterprise adoption and regulatory alignment. Specifically, Coinme is a core element of this plan, offering regulated reach to U.S.-based money movement via a comprehensive ecosystem of diverse money-transmitter licenses.

The licensed wallet infrastructure of Coinme and its enterprise-level APIs permit platforms to incorporate crypto trading, payments, and custody. Getting support from prominent investors like MoneyGram, Circle Ventures, Coinstar, DCG, and Pantera Capital, Coinme already facilitates more than 1M consumers and enterprise users like Baanx and Exodus. At the same time, Sequence’s acquisition fortifies Polygon’s technical capabilities and user experience when it comes to payments. Its integrated wallets provide enterprise-scale security along with one-click transfers across different chains.

Powering Core Vision of Providing Global and Regulated Money Transactions

According to Polygon, both Sequence and Coinme support Polygon’s efficient blockchain rails, forming a thorough wallet and payment ecosystem. By embedding regulated funds transfers with streamlined wallets and payments across chains, Polygon is poised to offer a foundational layer to boost on-chain finance’s future. Ultimately, this leads to an inclusive platform to turn global, instant, and regulated money movement into a practical reality.