Polygon completes Coinme buy as 6,000 crypto ATMs head for shutdown

Polygon Labs has completed its acquisition of Coinme, which gives it 37 state money-transmitter licenses and 11 exemptions, all of which will be integrated into its Open Money Stack. Polygon set out to make some acquisitions at the start of the year to give it access to stablecoin payments in the US, and Coinme’s acquisition was at the top of that agenda. The completion of the purchase now extends its regulated payments coverage to 48 US states. The completion of the acquisition also gives Polygon registration with the Financial Crimes Enforcement Network as a money services business.