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The company behind the Polygon blockchain did not disclose how much it paid for each company individually. Polygon said it plans to use the two companies’ products—which include Coinme’s network of 50,000 retail locations in the U.S. and Sequence’s crypto wallet software—to expand beyond crypto and become a major international payments company. (The Logic)
Talking point: Sequence, formerly known as Horizon, got its start in blockchain gaming, raising US$40 million in 2022 from investors including Brevan Howard Digital, Ubisoft and Shopify CEO Tobias Lütke. In April, the company changed its name to reflect its focus on its developer platform, which it said had become a leading choice for makers of crypto-based games. In an interview with Fortune, Polygon Labs CEO Marc Boiron and Polygon Foundation founder Sandeep Nailwal said they bought the two companies in an effort to compete with payments giants like Stripe.
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