WuBlockchain
Polygon Labs has completed its acquisition of Coinme, bringing regulated US money transfer services into the Polygon Open Money Stack. The platform now covers 48 states, with 37 state-level money transmitter licenses and 11 applicable exemptions, and is registered with FinCEN as a money services business.
Why it matters
The acquisition gives Polygon’s payments platform regulated US money movement capabilities alongside its blockchain infrastructure. That combination is aimed at practical financial services, including cross-border payments and account top-ups.
Market impact
Tazapay, Mesh, Toku and Kira are among the platform’s first customers. Their use cases include cross-border business payments, account top-ups, global payroll and USD services, putting the regulated platform to work across several payment needs.
Source: [Polygon Open Money Stack is now a U.S.-regulated payments platform with completion of Coinme acquisition — Polygon Labs](https://polygon.technology/blog/polygon-open-money-stack-us-regulated-payments-platform)
Frequently asked questions
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What does Coinme add to Polygon’s Open Money Stack?
The acquisition brings regulated US money transfer services into the platform.
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How broad is the platform’s US coverage?
It covers 48 states, with 37 state-level money transmitter licenses and 11 applicable exemptions.
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What federal registration does the platform have?
The platform is registered with FinCEN as a money services business.
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Which companies are among the first customers?
Tazapay, Mesh, Toku and Kira are among the first customers using the platform.
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What services are the first customers using it for?
Use cases include cross-border business payments, account top-ups, global payroll and USD services.
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