Toronto-based cryptocurrency infrastructure developer Sequence has been acquired by Polygon Labs as part of a broader effort to scale blockchain-based payments and financial transactions. The acquisition positions Polygon to strengthen its infrastructure for regulated stablecoin payments by integrating advanced wallet and developer tools into its ecosystem. Polygon Labs confirmed that the deal was part of a larger transaction that also included the acquisition of Seattle-based crypto firm Coinme.
Polygon Labs stated that it paid more than $250 million for the two companies combined, though it did not disclose the individual purchase prices. The company also pushed back against market speculation that Coinme alone accounted for between $100 million and $125 million of the deal value. Sequence declined to comment on the financial terms of the transaction when contacted by media outlets.
Building Infrastructure for Regulated Stablecoins
Polygon Labs, which is headquartered in the Cayman Islands, indicated that the dual acquisition is intended to accelerate the development of infrastructure that supports compliant and scalable stablecoin payments. The company reported that its Ethereum-based blockchain has processed approximately $2.2 trillion in total transaction value to date. Polygon’s network currently supports payment and financial activity for major platforms, including Stripe, Revolut, Flutterwave, and Polymarket, which is recognized as the world’s largest prediction market.
By bringing Sequence and Coinme under the same organizational umbrella, Polygon Labs is consolidating critical components needed to move money efficiently using blockchain rails. The combined capabilities are being assembled into what Polygon describes as the Open Money Stack, a unified technology stack designed to facilitate large-scale value transfer through stablecoins.
Role of Sequence and Coinme in the Open Money Stack
Polygon Labs has explained that while stablecoins already function as a digital form of money, they lack the infrastructure required to seamlessly connect with traditional financial systems. Coinme contributes licensed fiat on- and off-ramps in the United States, along with an existing user base exceeding one million customers. These capabilities allow users to move between fiat currency and digital assets within a regulated framework.
Sequence, meanwhile, provides wallet infrastructure and tools that enable one-click, cross-chain transactions. Its technology simplifies how developers and users interact with blockchain networks, reducing friction in payments and application design. Together, these components are intended to support enterprise-grade stablecoin use cases that require compliance, scalability, and ease of integration.
BREAKING: Polygon to become U.S. regulated payments platform
We’re acquiring Coinme and Sequence to move all money onchain.
→ Regulated money movement in 48 states
→ Fiat on/off ramps
→ 50,000 fiat-to-crypto locations in the U.S.
→ Easy onboarding with wallet infra
→… pic.twitter.com/lwvLheEc3P— Polygon | POL (@0xPolygon) January 13, 2026
Sequence’s Evolution and Growth
Sequence was originally founded in 2017 as a blockchain gaming startup under the name Horizon. Over time, the company shifted its focus toward building an all-in-one developer platform and smart wallet infrastructure for Web3 games and applications. In 2022, the company raised a $40 million Series A round to accelerate this transition and expand its platform offerings.
Extremely excited to share that @0xPolygon is acquiring @0xsequence
Together, in combination with Coinme — who’s also being acquired — we’ll enable instant money movement for anyone, anywhere🧵 pic.twitter.com/Q08eLg8CJw
— Peter Kieltyka (@peterk) January 13, 2026
That funding round attracted a diverse group of investors, including major video game publishers Ubisoft Entertainment and Take-Two Interactive Software, as well as Round13 Capital, Shopify chief executive Tobi Lütke, and Polygon itself. In April, Horizon rebranded to Sequence as its developer platform became the company’s primary product and market identity.
Let's go! Thrilled to welcome @Coinme and @0xsequence to @0xPolygon as we accelerate our efforts to build the Open Money Stack.
What this means for Polygon:
– 💸 Polygon is becoming a regulated money mover in 48 states, which will include not only cards and bank transfers but… https://t.co/Kkj5VJWgfg— John Egan (@john3gan) January 13, 2026
A Broader Trend in Canadian Web3 Exits
The acquisition of Sequence adds to a growing list of Canadian Web3 companies being acquired by foreign firms, particularly as regulatory conditions in the United States become more favorable toward crypto adoption. Recent policy shifts have encouraged consolidation and cross-border deal activity within the digital asset sector.
Earlier this year, San Francisco-based Ripple acquired Toronto-based stablecoin payments platform Rail for approximately $275 million Canadian dollars to enhance its virtual account and back-office automation capabilities. Separately, Toronto-based WonderFi is in the process of being acquired by trading platform Robinhood Markets in a deal valued at roughly $250 million Canadian dollars, expected to close in the first half of the year.
Continuity for Existing Customers
Sequence has indicated that its products and services will continue to operate without disruption following the acquisition. Customers are expected to retain full access to existing tools and can continue building on the platform as before. Under Polygon Labs, Sequence is set to play a central role in advancing infrastructure designed to move money at scale through stablecoins and blockchain technology.