Polygon Moves Into Payments With Coinme Deal, Targets Profit in 2027

Polygon Labs expects its regulated payments business to turn profitable in 2027 as it shifts from blockchain infrastructure into payment processing, a field led by Visa and Stripe. CEO Marc Boiron said the company completed its acquisition of Coinme, a US regulated crypto payments provider, on Wednesday. The deal lets the Cayman Islands based firm handle conversions between crypto, stablecoins and traditional money using its own resources. Boiron said he no longer sees Polygon as competing with other blockchains and described it as a payments-focused company that simply uses blockchains to move money.

Coinme Acquisition and Customer Control

Blockchains usually provide the technology behind transactions but have little say over the companies that generate them. Boiron said that gap has let rival networks offer incentives to payment firms to pull flows away from Polygon. Owning a regulated business, he argued, gives Polygon direct customer relationships, so nobody can move those flows elsewhere. The company can now also collect fees for converting and moving money, revenue that once went to intermediaries. Unlike blockchain fees, which can be fractions of a cent, payment fees can scale with the value transferred. Early users include Tazapay, Mesh, Toku and Kira, though the unified integration is still in technical preview.

Competition From Visa, Stripe and Swift

Polygon is far from matching the incumbents. Visa’s fiscal 2025 payments volume topped $12.3 trillion, while Stripe reached $1.9 trillion. Both are expanding into stablecoins, and Swift is building blockchain infrastructure with major banks. Visa has even added Polygon to its stablecoin settlement network.