$POL
POLYGON COMPLETES COINME ACQUISITION AND EXPANDS ITS PAYMENTS BUSINESS.
Polygon Labs completed its acquisition of Coinme, a deal that adds regulated U.S. payments infrastructure to its Open Money Stack platform.
With this integration, Polygon’s payments business now covers 48 U.S. states through 37 state money transmission licenses and 11 applicable exemptions.
It is also registered with FinCEN as a money services business.
The goal is to connect different stages of a financial transaction:
● Bringing in dollars from bank accounts, cards, or cash; transferring value via blockchain; and delivering funds to the recipient.
The platform also combines wallets, conversion between traditional money and digital assets, routing between networks, and payment settlement.
Among the first companies using Open Money Stack are Tazapay, Mesh, Toku, and Kira, with applications related to international payments, account funding, global payroll, and access to banking services in dollars.
The deal completes part of the agreement announced in January, which also included the acquisition of Sequence.
Polygon aims to bring together in a single infrastructure the services businesses need to adopt stablecoin payments without having to manage each component separately.
The concrete step forward is the addition of Coinme and its regulatory framework. Commercial growth will depend on the volume of transactions this platform can attract.
#Polygon #TradingCommunity #TrendingTopic #crypto #AltSeasonComing
TRADE HERE 👇
POLYGON COMPLETES COINME ACQUISITION AND EXPANDS ITS PAYMENTS BUSINESS.
Polygon Labs completed its acquisition of Coinme, a deal that adds regulated U.S. payments infrastructure to its Open Money Stack platform.
With this integration, Polygon’s payments business now covers 48 U.S. states through 37 state money transmission licenses and 11 applicable exemptions.
It is also registered with FinCEN as a money services business.
The goal is to connect different stages of a financial transaction:
● Bringing in dollars from bank accounts, cards, or cash; transferring value via blockchain; and delivering funds to the recipient.
The platform also combines wallets, conversion between traditional money and digital assets, routing between networks, and payment settlement.
Among the first companies using Open Money Stack are Tazapay, Mesh, Toku, and Kira, with applications related to international payments, account funding, global payroll, and access to banking services in dollars.
The deal completes part of the agreement announced in January, which also included the acquisition of Sequence.
Polygon aims to bring together in a single infrastructure the services businesses need to adopt stablecoin payments without having to manage each component separately.
The concrete step forward is the addition of Coinme and its regulatory framework. Commercial growth will depend on the volume of transactions this platform can attract.
#Polygon #TradingCommunity #TrendingTopic #crypto #AltSeasonComing
TRADE HERE 👇