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4w ago

Polygon Labs Weighs Up to $100 Million Raise for Regulated Stablecoin Payments Unit

The reported effort signals a push to turn heavy stablecoin activity on Polygon into a fee-based payments business.

Polygon Labs explores raising up to $100 million to launch stablecoin unit
Polygon labs targets up to $100m raise to supercharge payments push

Overview

  • Polygon Labs is exploring a raise of up to $100 million for a new stablecoin payments unit, according to The Information as relayed by trade outlets, and the company has not confirmed the plan.
  • The proposed unit would advance a pivot to the Open Money Stack, a regulated platform meant to run consumer and merchant payments on public blockchains.
  • The push follows about $250 million in deals for Coinme and Sequence that add fiat on- and off-ramps, card and ATM reach, wallet tools, and developer APIs.
  • Polygon points to scale to justify the move, citing roughly $2.3 trillion in total on-chain transfers, a $3.4 billion stablecoin supply by February 2026, and a $298 billion month in transfer volume.
  • Leaders cast the strategy as a bid to compete with Solana-based payment services and bank-linked rails, with about $450 million in prior venture funding providing runway for the expansion.