Polygon Nears $125 Million Acquisition of Coinme to Expand Crypto Payments and ATM Footprint

Polygon, a leading Ethereum Layer-2 blockchain focused on faster transactions and lower fees, is reportedly close to acquiring Coinme, one of the earliest and most established bitcoin ATM kiosk providers in the United States. According to sources familiar with the matter, the potential deal values Coinme at approximately $100 million to $125 million, highlighting a significant move in the crypto infrastructure and payments space.

The acquisition, which remains private and unconfirmed by the companies involved, is said to be advised by Architect Partners. While Coinme did not respond to requests for comment, Polygon declined to comment on the reported discussions. If completed, the deal would mark a major strategic expansion for Polygon as it looks to strengthen its presence in real-world crypto access points and on-ramps.

Coinme has played a pioneering role in the U.S. cryptocurrency ecosystem. The company activated its first licensed bitcoin ATM on May 1, 2014, and has since expanded its operations to nearly 49 U.S. states. Over the years, Coinme evolved beyond bitcoin, adding support for several popular cryptocurrencies through its network of kiosks, many of which are located in grocery stores and high-traffic retail locations. This extensive physical footprint has made Coinme a key player in bridging traditional consumers with digital assets.

Polygon, meanwhile, has continued to grow as a major Ethereum scaling solution, offering lower transaction costs and faster settlement times for decentralized applications, DeFi platforms, and NFT projects. In 2023, Polygon raised $450 million in a funding round led by Sequoia Capital India, underscoring strong investor confidence in its long-term vision.

A Polygon-Coinme acquisition could signal a broader trend of blockchain networks moving closer to consumer-facing infrastructure, combining scalable blockchain technology with established crypto payment and ATM networks. Such a move may help accelerate mainstream crypto adoption by making digital assets more accessible, compliant, and user-friendly across the United States.