toku

Polygon Labs completes Coinme acquisition

#PolygonLabs has finalized its acquisition of #Coinme , giving its Open Money Stack access to money transmission licenses in 48 U.S. states. #Tazapay , #Mesh , #Toku , and #Kira are among the first companies to use the platform for payments and payroll. Coinme’s acquisition gives Polygon 37 state money transmitter licenses, 11 relevant exemptions, and registration with the U.S. Financial Crimes Enforcement Network (FinCEN) as a money services business.

The acquisition is part of a $250M deal announced in January to buy Coinme and wallet infrastructure provider Sequence. Polygon said the acquisitions would add money transmission licenses, wallet technology, and cross-chain transaction routing to its payments business.

👉 x.com/0xPolygon/status/2110362789810405465