Stablecoins already settle in seconds. Banks, cards, and cash still take time.

The “last mile” between stablecoins and fiat is why most stablecoin payment projects stall before they ever reach production. 

Polygon Labs is acquiring Coinme to close that gap. 

Polygon is building the Open Money Stack, a unified, end-to-end payments infrastructure that enables institutions to move money seamlessly between traditional financial systems and onchain settlement, without rebuilding their systems. The Open Money Stack will bundle everything into a single API: regulated access, wallets, orchestration, compliance, and blockchain rails. The goal is simple: make stablecoin payments work in the real world.

Coinme will be a critical part of the stack. It already connects bank accounts, cards, and physical cash to onchain assets through regulated, compliant on- and off-ramps. That last-mile infrastructure will plug directly into the Open Money Stack’s global rails.

The result is simple: institutions and enterprises can move money from bank accounts into stablecoins, settle instantly onchain, and return funds to the real world, all in a single API, built for scale and compliance from day one.

The problem: stablecoins work, the last mile doesn’t

Stablecoins have proven themselves as a settlement layer. Billions of dollars move onchain every day, globally, instantly, and at low cost.

What breaks is everything around them.

Getting money into and out of stablecoins still means dealing with fragmented banking rails, card networks, cash access, and varying compliance regimes. For institutions, that translates into:

• Slow or unpredictable fiat settlement
• Heavy regulatory lift across jurisdictions
• Complex, brittle integrations
• Payments projects stuck in pilot mode

The result is a paradox: money can settle instantly onchain, but institutions can’t deploy it end to end.

Coinme is a step toward fixing this. 

The solution: regulated last-mile infrastructure

Polygon is acquiring Coinme to bring regulated, compliant fiat on- and off-ramps directly into the Open Money Stack, so stablecoin payments can finally run bank → stablecoin → bank (or cash) without friction.

As a licensed money services business operating in 48 U.S. states and across the globe, Coinme provides the compliant fiat on- and off-ramps that have been the missing piece in onchain payments. It ensures money can enter or exit the blockchain in a compliant way, whether through bank transfers, debit cards, or physical cash locations. 

With Coinme, institutions can move value:

• From bank accounts, cards, or cash
• Into stablecoins for instant onchain settlement
• And back out, compliantly and reliably

This turns stablecoins into a powerful settlement primitive deployable into payments systems.

Over nearly a decade, Coinme obtained money transmitter licenses nationwide and launched the country’s first licensed Bitcoin ATMs; it was the second in the U.S. after Coinbase to receive money transmitter licenses. It is one of the U.S.’s largest crypto-fiat exchange infrastructures, built on a compliance-first approach. 

Regulation baked in:

• Licensed money services business operating across 48 U.S. states
• Built from day one around KYC, AML, and regulatory compliance

Distribution at scale:

• More than 50,000 physical retail locations via partners like Coinstar and GreenDot
• Bank, card, and cash access nationwide
• Partnerships with payments companies like Mercuryo and Exodus for compliant fiat-to-crypto conversion

Proven volume

• Over one million users
• More than $1B in transactions processed

Enterprise-ready APIs

• Crypto-as-a-service platform with licensed wallets and programmatic on/off-ramps
• Designed for fintechs, banks, and payment providers—not hobbyists

Coinme closes the gap between digital settlement and real-world money.

A last mile solution brings stablecoin connectivity to the real world, turning fragmented services into a unified platform for moving dollars onchain and off.

Why institutions are beginning to notice

Until now, most institutions have been forced to treat stablecoins as partial solutions, or turn to complex, multi-party solution providers.

The last mile of compliance, fiat access, and distribution was always external and complex.

Coinme, in context of the Open Money Stack, changes that.

With regulated on- and off-ramps integrated directly within the Open Money Stack, institutions will be able to deploy stablecoins end to end. Money enters existing systems, settles instantly onchain, stays onchain to earn yield or power applications or circulate globally as payments or remittances, and exits cleanly when needed.

This is the difference between experimenting with stablecoins and running them as core payments infrastructure.

What next in the Open Money Stack

Polygon is building the Open Money Stack to make global money movement simple, reliable, and invisible. Coinme is a foundational piece of that stack.

Together, Polygon and Coinme bring stablecoin payments out of theory and into production, where banks, fintechs, and enterprises actually operate.

If you’re looking to deploy stablecoins as real payments infrastructure, not just as a crypto feature, the Open Money Stack is ready.

Early access is now open. Coinme is already running at scale.