Coinme + Polygon: The Next Chapter in Making Crypto Accessible

A decade of building compliant infrastructure meets the future of global stablecoin payments

Today marks a transformative moment in Coinme’s journey. We’re excited to announce that Coinme has entered into a definitive agreement to be acquired by Polygon Labs. This milestone represents the validation of everything we’ve built over the past decade and an acceleration of our mission to make digital assets accessible to everyone.

From Pioneer to Platform

When we launched Coinme in 2014, Bitcoin was trading at around $400, and the regulatory landscape for cryptocurrency in the United States was essentially uncharted territory. That meant working directly with Washington State regulators to establish early licensing standards, ultimately launching the first licensed Bitcoin ATM in the U.S. and becoming one of the earliest state-licensed crypto exchanges globally.

That compliance-first approach wasn’t always the fastest path, but it was the right one. It’s what enabled us to grow from a single-location operator to a nationwide infrastructure provider serving more than 50,000 retail locations. It’s what allowed us to partner with trusted brands like Coinstar and MoneyGram. And it’s what positioned us to support major platforms including Exodus, Mercuryo, and Baanx through our Crypto-as-a-Service APIs.

2024: A Milestone Year

This past year represented a decade of work coming to fruition. In 2024, Coinme surpassed $1 billion in transaction volume and achieved profitability for the first time in its history. These weren’t just financial milestones; they were proof that our approach to combining compliance, accessibility, and scale actually works. We continued relentlessly by expanding access to cryptocurrency for everyday Americans through our vast retail network.

Why Polygon?

Stablecoins are rapidly becoming the settlement layer for global payments, but the infrastructure supporting them remains fragmented. What excites us about joining Polygon Labs is the opportunity to bridge that gap at scale.

By combining Coinme’s regulated U.S. payment infrastructure and nationwide cash network with Polygon’s ecosystem, we’re creating something powerful: a turnkey solution that enables Web2 and Web3 companies to embed compliant stablecoin payments directly into their platforms. This means seamless movement between traditional fiat systems and onchain settlement—the kind of infrastructure needed to support the global stablecoin payments market projected to exceed $2.8 trillion in transaction volume by 2028.

What This Means for You

If you’re a Coinme customer or partner, here’s what you need to know:

Our mission remains the same. We’re still committed to bridging traditional finance and digital assets responsibly, just now with the resources to do it at a global scale.

Services continue uninterrupted. Coinme will operate as a wholly owned subsidiary of Polygon Labs, continuing to run our regulated exchange, wallet, and Crypto-as-a-Service platform while the transaction moves through customary regulatory approvals.

We’re expanding, not pivoting. Our licensing, compliance, and payments infrastructure will contribute to Polygon’s exciting new Open Money Stack, designed to move money seamlessly between fiat systems and onchain rails. This means more capabilities, not fewer.

Looking Ahead

From our first licensed Bitcoin ATM in Seattle to one of the largest cash on- and off-ramp networks in the United States, Coinme has always been about making the promise of digital assets accessible to everyone, not just the crypto-native. This acquisition with Polygon Labs doesn’t change that, it amplifies it.

The next chapter is about taking the compliant infrastructure we’ve spent a decade building and using it to support the next generation of stablecoin-powered payments. It’s about extending trusted, regulated access to digital assets on a global scale. And it’s about proving that doing things the right way—with compliance, accessibility, and the user at the center—isn’t just good ethics, it’s good business.

We’re grateful to our investors who believed in our vision when Bitcoin was $400 and supported us through every milestone since. We’re grateful to the regulators who worked with us to establish frameworks that enabled this entire industry to grow responsibly. And most of all, we’re grateful to every customer, partner, and team member who’s been part of this journey.

Here’s to the next decade of making crypto accessible.

For more information about Coinme’s enterprise platform, visit coinme.com.