Welcome back to the Polygon Weekly Overview, the best place for the Polygon community to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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By The Numbers
Polygon daily active addresses: 523.87K (+14.03%)
Polygon daily txns: 6.03M (+3.96%)
Polygon Total Volume Locked (TVL): $1.16B (+7.59%)
Daily DEX Trading Volume: $204.74M
USDT: $213.6M (-1.83%)
USDC: $771.2M (+13.93%)
DAI: $116.4M (+37.59%)
NFT weekly sales volume: $868.43M (-11.27%)
PerkVault Collection: $111.08K (-15.45%)
ValensPay Pass: $94.94K (+23.37%)
Voxies: $73.65K (-14.04%)
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
Polygon Spotlight
🟪 What happened: Polygon Labs has agreed to acquire Coinme and Sequence, combining licensed U.S. money transmission infrastructure with cross-chain wallet technology. The deals bring together fiat on-ramps, off-ramps, and payment orchestration tools as part of the Open Money Stack framework for stablecoin payments.
🟪 Why does it matter: The acquisitions further Polygon’s goal to become a U.S.-regulated payments platform. A platform that lets people buy crypto as cash, Coinme possesses money transmission licenses in 48 U.S. states, while Sequence provides smart wallet infrastructure as well as a routing engine.
Coinme has a retail network of 50,000 locations. The company says it has more than a million users, and has so far moved $1 billion. Following regulatory approval of the deal, Coinme will function as a Polygon Labs subsidiary.
Sequence provides smart wallet infrastructure and Trails, a routing engine that handles chain-switching and transaction fees in the background. Since launching Trails two months ago, the platform has processed 10 million transactions.
The acquisitions would enable Polygon to offer fiat conversion, licensed custody services, cross-chain routing, and settlement flows through one integration point.
Beyond infrastructure, the move establishes Polygon Labs as a payments business with over $100 million in annual revenue from transaction flows. Coinme and Sequence together have handled $1 billion offchain and $2 trillion onchain, giving Polygon access to revenue streams from existing customer bases.
🟪 The big picture: Through these acquisitions, Polygon is is building towards operating as a payments business by competing on infrastructure economics, not just network effects.
By consolidating fiat conversion, custody, cross-chain routing, and compliant settlement under U.S. money transmission licenses across 48 states, the Open Money Stack diminishes the complexity of assembling fragmented stablecoin services across multiple vendors.
Chart Of The Week
Polygon hit its 11th consecutive week of growth for micropayments with 67.7M last week.
Into the Agglayer
Read how Ethereum-aligned infrastructure reduces long-term operational costs with CDK Enterprise
QuickSwap announced a governance vote to adopt Security Alliance's Safe Harbor Agreement.
Watch Katana’s livestream on the first episode of the Understanding DeFi series on DEXs
Learn about RWA Tokenization in this X Article from Lumia
Ecosystem Showcase
Read how PIP-69 expands DeFi composability for staked POL and simplifies the development of POL liquid staking tokens
Polygon currently has about 2.6M daily active users, ranking second in the Ethereum ecosystem
Watch Polygon Labs CEO Marc Boiron speak about the company’s Open Money Stack
Watch Polygon Labs Head of Payments, Sam Fagin, on Schwab Network’s Market Close speaking on the recent payments growth and acquisitions
Join In The Fun
Until next week!
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.