Polygon Labs spent over $250 million to acquire cryptocurrency startup Coinme and Sequence

Techub News reports, according to Fortune magazine, Polygon Labs has completed the acquisition of cryptocurrency startups Coinme and Sequence, with a total acquisition price exceeding $250 million. Polygon Labs did not disclose the individual transaction amounts, nor did it specify whether the payment method was cash, equity, or a hybrid form. Polygon Labs CEO Marc Boiron and Polygon Foundation founder Sandeep Nailwal stated that this acquisition aims to support the blockchain network's stablecoin strategy. Coinme holds a series of money transfer licenses in the United States, while Sequence is dedicated to building blockchain infrastructure, including cryptocurrency wallets.