Polygon sees Coinme acquisition as entry to payments sector dominated by Visa, Stripe
CEO Marc Boiron said the Coinme acquisition will help Polygon control customer relationships and capture revenue that previously went to payment intermediaries.
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Summary
- Polygon Labs expects its regulated payments business to become profitable next year as it expands beyond blockchain infrastructure into payment processing.
- The acquisition of Coinme allows Polygon to manage conversions among cryptocurrencies, stablecoins and traditional currencies while retaining customer relationships and collecting payment fees.
- Polygon will enter an industry dominated by companies including Visa and Stripe, and its unified payments platform remains in technical preview with a small group of early users.
