Polygon to acquire Coinme in push into crypto payments
Polygon CEO Marc Boiron said buying Coinme would give the network direct control of customer relationships and revenue now captured by payment intermediaries.
Polygon is acquiring Coinme, the crypto payments firm, as part of a move into payments, according to CoinDesk. CEO Marc Boiron described the deal as a way for Polygon to establish a position in a sector currently led by established payment companies Visa and Stripe.
Boiron said the acquisition would allow Polygon to own customer relationships directly and retain revenue that otherwise flows to payment intermediaries. The report did not disclose financial terms or a timeline for the transaction.
Why it matters
Blockchain networks have increasingly looked toward payments as a way to generate real-world usage. By bringing a payments company in-house, Polygon would be seeking a more direct role in processing and customer-facing services rather than only providing underlying infrastructure.
The deal remains subject to details not included in the initial report. CoinDesk's account focused on the strategic rationale rather than deal mechanics or regulatory approvals.