Polygon Plans Major Acquisition of Coinme, Leading Bitcoin ATM Provider

Ethereum Layer-2 Network, Polygon, is entering the final phase of a strategic acquisition deal with Coinme, one of the industry leaders in providing Bitcoin ATM kiosks in the United States. According to two sources familiar with the details of this transaction, the M&A is valued between $100 million and $125 million. The acquisition process is supported by Architect Partners, a firm specializing in fintech industry transactions.

Transaction Details and Negotiation Status

Polygon, designed specifically to achieve faster transaction speeds and significantly lower costs compared to mainnet Ethereum, is actively developing strategies to expand its operational footprint into the physical payment services sector. This transaction, led by both parties, demonstrates Polygon’s commitment to a comprehensive on-ramp payment infrastructure. Neither Polygon nor Coinme has issued an official statement regarding these negotiations, maintaining confidentiality in accordance with common market practices in enterprise-level acquisitions.

Coinme Business Foundation and Operational Reach

Coinme began its operations by launching its first licensed Bitcoin ATM on May 1, 2014, setting a new standard in digital asset accessibility. Since then, the company has grown rapidly to operate a network of ATMs in 49 US states. In 2022, Coinme expanded its product ecosystem by adding various popular cryptocurrencies—including Ethereum, MATIC, and Dogecoin—into kiosks located in grocery stores across the country. This expansion demonstrates the platform’s adaptation to digital asset diversification and the evolving consumer demand.

Strategic Profile of Polygon and Investment Momentum

Polygon has attracted the attention of institutional investors by raising $450 million in a funding round led by Sequoia Capital India. This successful fundraising reflects market confidence in Polygon’s vision as a next-generation scalability solution for the Ethereum ecosystem. Polygon’s measured blockchain development strategy, combined with industry needs for broadly accessible payment infrastructure, makes Coinme a strategic acquisition target.

Implications of M&A for the Global Crypto Ecosystem

This potential acquisition marks a significant momentum in the convergence between Layer-2 blockchain technology and traditional payment services. By controlling Coinme’s ATM infrastructure, Polygon can accelerate crypto adoption at the retail level and strengthen its position as a leader in blockchain payment solutions. The combination of on-chain technology with offline payment touchpoints opens new opportunities to integrate digital assets into the daily lives of mainstream consumers.

The crypto market dynamics continue to show the commitment of key players to building a holistic and inclusive payment ecosystem, moving beyond pure trading toward practical, sustainable utility.