TechFlow news, January 13 — According to Fortune, Polygon Labs has completed the acquisition of crypto startups Coinme and Sequence for a total value exceeding $250 million.
Marc Boiron, CEO of Polygon Labs, and Sandeep Nailwal, founder of the Polygon Foundation, said the two acquisitions are aimed at advancing its stablecoin strategy. Seattle-based Coinme focuses on cash-to-crypto conversion services and holds multiple money transmission licenses across the U.S., while New York-based Sequence specializes in building blockchain infrastructure, including cryptocurrency wallets. Nailwal described this move as part of Polygon's effort to compete with fintech giant Stripe.
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