Polygon is preparing to acquire the cryptocurrency kiosk operator Coinme for $100-125 million

The Polygon Layer 2 scaling network for Ethereum is in negotiations to acquire Coinme, one of the leading operators of cryptocurrency kiosks in the United States. According to informed sources, the deal is valued at between $100 million and $125 million. The negotiation process is being coordinated by consulting firm Architect Partners, said representatives familiar with the details of the agreement.

Strategic Acquisition to Expand Infrastructure

This operation reflects Polygon’s efforts to strengthen its position in retail access to cryptocurrencies. The Polygon network, created to increase transaction speed and reduce fees within the Ethereum ecosystem, aims to integrate solutions for working with digital assets through traditional retail outlets. Acquiring a kiosk operator will allow Polygon to directly influence the expansion of its user base and promote cryptocurrency payments among the mass consumer.

Coinme’s History: From Innovation to National Scale

Coinme made history in the cryptocurrency infrastructure by establishing the first licensed cryptocurrency kiosk on May 1, 2014. Since then, the company’s network has grown to be present in approximately 49 states in the United States. Over time, Coinme expanded its supported assets, adding popular cryptocurrency tokens such as Dogecoin, Ethereum, and Polygon (MATIC) to its kiosks in grocery store networks, which happened in 2022.

Financial Context and Player Positions

Polygon itself has previously attracted significant investment to develop its ecosystem. In 2022, the network raised $450 million in a funding round led by Sequoia Capital India, along with other major investors Galaxy and SoftBank. These funds were directed toward supporting development plans in the Web 3 space. The acquisition of Coinme should be viewed as part of a broader strategy to strengthen the platform’s position in the digital assets sector.

Official Positions and Deal Closure Process

At the time of this report, neither Polygon nor Coinme have issued official comments regarding the proposed agreement. The structure of the acquisition process, coordinated by Architect Partners, involves a professional approach to integrating kiosk operations into the Polygon framework. The completion of the deal could become a significant event for the development of cryptocurrency access infrastructure through traditional retail channels, enabling users to interact with digital assets seamlessly through familiar methods.