The renewed dynamism of Polygon blockchain developer Polygon Labs continues apace with the information that it’s acquired two internet infrastructure corporations – Sequence and Coinme – in a deal price $250 million, probably a mixture of money, fairness and crypto.
The worth of the person parts of the deal between the 2 corporations wasn’t formally disclosed, though earlier rumors instructed Polygon was paying round $125 million for Coinme, suggesting a reasonably even cut up.
Sequence was based as Horizon Blockchain Video games in Canada in 2018, shortly launching its TCG Skyweaver. Nonetheless, over time its enterprise has change into more and more targeted on offering instruments for recreation builders to deal with advanced blockchain infrastructure together with social sign-in wallets, minting, marketplaces and funds.
It first signed a cope with Polygon in 2023 when it grew to become the blockchain’s most popular pockets companion.
In whole, Sequence raised round $50 million from buyers together with Brevan Howard Digital, Morgan Creek Digital and Bitkraft.
Builders utilizing its expertise included Ubisoft, Magic Eden, ApeChain, Immutable and TapNation.
As for Coinme, it’s a funds and banking infrastructure outfit, working with finance and DeFi corporations. It additionally has entry to 50,000 retail places within the US providing fiat-to-crypto companies, together with round 6,000 of its personal Bitcoin ATMs. On this method, Coinme helps cope with points reminiscent of compliance and KYC. Its platform is totally licensed and controlled in the USA.
Coinme has raised round $35 million from buyers together with Pantera Capital, DCG, Ripple, Circle, Coinstar, and MoneyGram.
Polygon Labs’ exercise follows a renewed push to supply greater than pure blockchain companies right into a extra full infrastructure ecosystem, one thing it now calls the Polygon Open Cash Stack. Its said objective is to change into a regulated US funds supplier.
