Polygon Labs is aiming to raise up to $100 million to grow its on-chain payments unit, marking a strategic shift from general Layer-2 infrastructure to a regulated stablecoin payments platform. This move builds on over $250 million in acquisitions of Coinme and Sequence, creating an integrated stack for fiat on/off ramps, card and ATM distribution, and developer APIs. Polygon already processes trillions in value and leads in non-USD stablecoin payments, positioning itself as a major competitor to Solana and other networks. The new funding would support Polygon's ambition to become a regulated payments entity in the U.S., focusing on stablecoin flows as the key blockchain use case for the next decade.
