Polygon Labs completes acquisition of payments provider Coinme
- —Coinme's US money transmitter licenses let Polygon convert fiat, stablecoins and crypto without third-party gateways
- —The unified payments platform is in early closed testing, with a broad rollout expected over the coming quarters
- —The goal is to capture conversion and cross-border fees previously taken by intermediaries
- —Polygon network gas fees still go to validators, while payments revenue flows to Polygon Labs' balance sheet
Why it matters: Polygon is shifting from an L2 developer to a vertically integrated payments business, reducing reliance on market cycles and keeping transaction flow inside its own network.
Source: Bit2Me News