Polygon

Coinme offers regulated, blockchain-based infrastructure that connects stablecoins to existing financial systems with the Open Money Stack.
This is how Coinme and $POL will close the last mile of stablecoins:
Stablecoins already settle in seconds. Banks, cards, and cash still take time.
The “last mile” between stablecoins and fiat is why most stablecoin payment projects stall before they ever reach production.
Polygon Labs is acquiring Coinme to close that gap.
Polygon is building the Open Money Stack, a unified, end-to-end payments infrastructure that enables institutions to move money seamlessly between traditional financial systems and onchain settlement, without rebuilding their systems. The Open Money Stack will bundle everything into a single API: regulated access, wallets, orchestration, compliance, and blockchain rails. The goal is simple: make stablecoin payments work in the real world.
Coinme will be a critical part of the stack. It already connects bank accounts, cards, and physical cash to onchain assets through regulated, compliant on/off ramps. That last-mile infrastructure will plug directly into the Open Money Stack’s global rails.
The result is simple: institutions and enterprises can move money from bank accounts into stablecoins, settle instantly onchain, and return funds to the real world, all in a single API, built for scale and compliance from day one.
The problem: stablecoins work, the last mile doesn’t
Stablecoins have proven themselves as a settlement layer. Billions of dollars move onchain every day, globally, instantly, and at low cost.
What breaks is everything around them.
Getting money into and out of stablecoins still means dealing with fragmented banking rails, card networks, cash access, and varying compliance regimes. For institutions, that translates into:
Slow or unpredictable fiat settlementHeavy regulatory lift across jurisdictionsComplex, brittle integrationsPayments projects stuck in pilot mode
The result is a paradox: money can settle instantly onchain, but institutions can’t deploy it end to end.
Coinme is a step toward fixing this.
The solution: regulated last-mile infrastructure
Polygon is acquiring Coinme to bring regulated, compliant fiat on/off ramps directly into the Open Money Stack, so stablecoin payments can finally run bank → stablecoin → bank (or cash) without friction.
As a licensed money services business operating in 48 U.S. states and across the globe, Coinme provides the compliant fiat on/off ramps that have been the missing piece in onchain payments. It ensures money can enter or exit the blockchain in a compliant way, whether through bank transfers, debit cards, or physical cash locations.
With Coinme, institutions can move value:
From bank accounts, cards, or cashInto stablecoins for instant onchain settlementAnd back out, compliantly and reliably
This turns stablecoins into a powerful settlement primitive deployable into payments systems.
Over nearly a decade, Coinme obtained money transmitter licenses nationwide and launched the country’s first licensed Bitcoin ATMs; it was the second in the U.S. after Coinbase to receive money transmitter licenses. It is one of the U.S.’s largest crypto-fiat exchange infrastructures, built on a compliance-first approach.
Regulation baked in:
Licensed money services business operating across 48 U.S. statesBuilt from day one around KYC, AML, and regulatory compliance
Distribution at scale:
More than 50,000 physical retail locations via partners like Coinstar and GreenDotBank, card, and cash access nationwidePartnerships with payments companies like Mercuryoand Exodus for compliant fiat-to-crypto conversion
Proven volume
Over one million usersMore than $1B in transactions processed
Enterprise-ready APIs
Crypto-as-a-service platform with licensed wallets and programmatic on/off-rampsDesigned for fintechs, banks, and payment providers—not hobbyists
Coinme closes the gap between digital settlement and real-world money.
A last mile solution brings stablecoin connectivity to the real world, turning fragmented services into a unified platform for moving dollars onchain and off.
Why institutions are beginning to notice
Until now, most institutions have been forced to treat stablecoins as partial solutions, or turn to complex, multi-party solution providers.
The last mile of compliance, fiat access, and distribution was always external and complex.
Coinme, in context of the Open Money Stack, changes that.
With regulated on/off ramps integrated directly within the Open Money Stack, institutions will be able to deploy stablecoins end to end. Money enters existing systems, settles instantly onchain, stays onchain to earn yield or power applications or circulate globally as payments or remittances, and exits cleanly when needed.
This is the difference between experimenting with stablecoins and running them as core payments infrastructure.
What next in the Open Money Stack
Polygon is building the Open Money Stack to make global money movement simple, reliable, and invisible. Coinme is a foundational piece of that stack.
Together, Polygon and Coinme bring stablecoin payments out of theory and into production, where banks, fintechs, and enterprises actually operate.
If you’re looking to deploy stablecoins as real payments infrastructure, not just as a crypto feature, the Open Money Stack is ready.
Early access is now open. Coinme is already running at scale.

By: Sandeep Nailwal, Founder of Polygon, and Marc Boiron, CEO of Polygon Labs

For most of history, information, and money were limited by geography, time, and people. We freed information first with the internet. Money is next.
Today, money movement is slow, expensive and uncertain. Tomorrow, it will be boundless and programmatic. All money will be onchain.
#Polygon started by building the first high-performance blockchain, the Polygon Chain. But it always had the goal of enabling anyone to move assets anywhere, anytime, to anyone. For this to happen, the most widely used asset in the world—money—must be freed from the constraints of legacy financial infrastructure.
Polygon occupies a unique position in this transition. Over the past six years, Polygon has become the standard for production-grade blockchain infrastructure used by millions of users, tens of thousands of applications, and many of the world’s largest institutions. The Polygon Chain has facilitated over two trillion dollars in onchain value transfer. Through real usage, we have learned what it takes for onchain systems to operate at global scale.
Now we face a generational opportunity to rebuild the way the world experiences money. With approximately two quadrillion dollars transferred globally each year, the competitive landscape is dense. The scale of this opportunity ensures that incumbents will compete aggressively, invest heavily, and execute well. But this moment is too important to ignore. While the migration of all money onchain will take a decade or more to fully unfold, the category-defining companies and protocols will be set in the next three years. This is the moment that matters.
Our mission is to move all money onchain. To make it happen, we will build an open money stack to move all money seamlessly.
Why build the Polygon Open Money Stack?

The Open Money Stack will be an open and integrated stack of services and technologies to instantly and reliably move money anywhere, and put it to work. Open and interoperable money ensures that it is usable everywhere, by everyone, on their own terms. And when used on someone’s own terms, money fades into the background so people are free to focus on living and building, improving their lives.
People don’t need to understand settlement mechanics or lose sleep because they are worried about when money will arrive. Businesses don’t need to design workflows around settlement delays that keep employees in the office late. AI agents don’t need bespoke logic or manual intervention, eliminating the need for human interruption. Instead, after choosing a recipient, money moves instantly and reliably.
Consider a simple example. A business in São Paulo pays a designer in Lagos. Today, that payment moves through multiple banks, sits in transit for days, incurs unpredictable fees, and often arrives late or short of the expected amount. The business plans around delays, and the contractor waits, unsure when the money will clear.
On the Open Money Stack, the business sends Brazilian Real from its existing account and the designer receives the currency they prefer in seconds. There are no cutoff times, no correspondent banks, and no funds stuck in limbo. Until the money is spent, it earns yield. What once took days, intermediaries, and uncertainty, now happens instantly and reliably. This is how money behaves on the Open Money Stack.
What are the characteristics of the Open Money Stack?
The Open Money Stack will move all money in the future for consumers, businesses, and AI agents alike. Today, onchain money generally needs to return offchain to be used. With Open Money Stack, however, money that comes onchain can stay — and be used — onchain forever.
The $POL Open Money Stack
The Open Money Stack will include blockchain rails, onchain orchestration, wallet infrastructure, indexers and RPCs, on-ramps and off-ramps, offchain orchestration, stablecoin interoperability, compliance, onchain identity, and onchain earning. When businesses are moving money or offering money movement for their customers, the Open Money Stack will offer in one simple integration:
a choice of desired compute via blockchain, whether shared or dedicated blockspace;a wallet service to hold customer funds, along with an indexer and RPC to make the experience seamless;a simple way to onboard new customers, both from offchain fiat to onchain stablecoins and from one chain to another chain; anda complete financial experience onchain, including yield opportunities, card programs and other offerings onchain for customers.
Many of these components have been developed at Polygon or through partnerships. Most others will be available shortly.
We started building the first layer of the Open Money Stack six years ago with the launch of Polygon: the first blockchain to provide fast, low-cost, scalable, and secure rails for money to move onchain. Since then, the Polygon Chain has facilitated over two trillion dollars in onchain value transfer, and it will move exponentially more. As activity increases, Polygon Chain validators and stakers receive more fees, with potential for billions in the future. Upcoming upgrades on Polygon Chain for private, priority, and dedicated blockspace will improve this experience further.
The Open Money Stack will make chains invisible to users and seamlessly interconnected by the Open Money Stack. Whether through interoperability protocols we build, such as Agglayer, or bridges or other crosschain systems, people, businesses, and AI agents will send and receive money as if everyone were on the same chain, using the same wallet.
The Open Money Stack will leverage wallets to unlock the full potential of onchain money. Sending and receiving money will be as easy as one tap, abstracting fees, wallet creation, and orchestration. Lost wallet access will be recoverable. Those who want custody will have that option.
The Open Money Stack will ensure idle money earns yield. Whether for minutes or years, onchain money will have access to open, global earning opportunities across assets, risk profiles, and preferences. By bringing identity onchain, the Open Money Stack can unlock yields that have traditionally only existed offchain, with returns that are as good or better than what is available today. Earning must be as open as money movement itself.
The Open Money Stack will make it easy for anyone to move money anywhere. For the next decade, on-ramps and off-ramps will remain essential, enabling reliable, global movement between traditional financial systems and blockchains. But our north star is clear: move all money onchain. This makes it easy for people to send and receive money. Because onchain money is more versatile, money will move and remain onchain. It’s better for payments, lower-cost, more convenient, earns yield, and can be seamlessly integrated into existing financial applications.
The Open Money Stack will support all forms of onchain money, from tokenized deposits to stablecoins. Senders will not think about the form of onchain money recipients prefer, and recipients will not need to dictate what is sent. This decoupling of the money sent from the money received is foundational to open money.
What progress has been made on the Open Money Stack?
In the coming weeks, we’ll move decisively from vision to execution. We will announce several big initiatives that expand our capabilities across payments, orchestration, compliance, and onchain money primitives. These initiatives are designed to help us move faster, build better, and bring the Open Money Stack to market at scale.
Once we’ve finished, the Open Money Stack will:
move all money onchain;offer open money services and technologies;make money movement simple;ensure that money stays onchain; anddefine the next thirty years of money movement over the next three years.
Building on the foundation set in the last six years, the Open Money Stack will power the next era of money movement, creating the most significant evolution of money of the last 50 years.
“The future belongs to those who see possibilities before they become obvious.” — John Sculley
- Sandeep Nailwal and Marc Boiron