Polygon invests over 100 million USD to acquire Bitcoin ATM provider Coinme

2026-01-08 19:54:10

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【BitPush】Polygon is pushing forward with a major acquisition—planning to acquire the well-known US Bitcoin ATM self-service terminal provider Coinme for between $100 million and $125 million.

The layer-2 blockchain platform has hired Architect Partners as an advisor for this transaction. As one of the first Bitcoin ATM providers in the US, this move signifies Polygon’s strategic efforts to expand its ecosystem applications and user reach.

Notably, Polygon’s financing background is quite impressive. In 2023, the platform raised $450 million through a funding round led by Sequoia Capital India, providing ample capital support for its subsequent mergers, acquisitions, and expansion. This acquisition will further integrate on-chain finance with traditional payment networks.

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IntrovertMetaverse

· 7h ago

Billions-level acquisition, Polygon is trying to open offline entrances, which is interesting. --- I saw that Coinme ATM at a convenience store before; I didn't expect Polygon to target it. --- Sequoia India’s recent funding round was indeed impressive. With such aggressive spending on expansion, there's no need to worry. --- Connecting on-chain and traditional payments sounds good, but it still feels more like a concept hype. --- Spending over a hundred million to acquire an ATM supplier—whether this money is worth it depends on what happens next. --- It's Polygon again. This L2 has been very active lately. --- Basically, they want more users to get involved in crypto, and offline entrances are key. --- But how is the outlook for ATMs? It seems not many people are using them.

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SchrodingerWallet

· 01-10 19:24

Alright, Polygon's move is quite bold. Investing over a billion dollars in ATM acquisitions all at once, it feels like there's real implementation behind it, which is a bit of a spectacle. What are they thinking? Cross-industry integration in the crypto world is something we've heard many times. In the end, it's still just a traffic article. However, Sequoia's support of $450 million is indeed impressive—at least they have the money to be reckless. This is about bridging from on-chain to offline, which is quite imaginative. It all depends on whether they can truly roll it out. Coinme, this old brand, is definitely an asset. The question is, what is Polygon going to do with it? It seems like they're laying the groundwork for bigger moves ahead, or is it just pure money burning? In my opinion, the key is user experience. Without that, even more ATMs are pointless. What could this money be used for in other directions? It's a bit of a pity. Polygon is playing a very big game; it's worth keeping an eye on.

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DefiEngineerJack

· 01-09 10:42

ngl, polygon dropping $100M+ on a bitcoin ATM play is giving "we need more normies on-chain" energy, but like... actually™ the infrastructure play here is non-trivial. bridging trad rails with onchain settlement? that's the move.

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MoonRocketTeam

· 01-08 20:24

Damn, Polygon is about to blast out of the atmosphere, spending over $100 million to buy ATM, is this fueling the booster? Sequoia's $450 million funding is preparing for deployment, now starting mergers and acquisitions in orbit, dopamine is about to soar. Connecting on-chain and off-chain, this move is quite aggressive, truly the night before launch. Wait, when will this deal be finalized? Feels like it hasn't been fully confirmed yet. Integrating the boundaries of the payment network, it sounds ambitious, but whether it can truly shake up the market depends on subsequent data.

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just_here_for_vibes

· 01-08 20:24

This acquisition is really aggressive; Polygon seems to want to take over the entire ecosystem. With over a hundred million dollars invested by Coinme, how many actual users can it attract? It feels like a routine move by funding players—when they have more money, they start buying everything. Sigh, I just want to know what real benefits this thing brings to on-chain DeFi... Sequoia India’s funding is indeed impressive. Looking at it this way, Polygon really seems to be pursuing an offline strategy. But with ATM devices, do ordinary people really use them... Is Polygon betting on the future of payments on the chain? Or just for land grabbing? I find it hard to understand the logic behind this move. Can someone explain? The gap between funding acquisitions and actual implementation is quite large. It feels like a VC story being told—what are the real user needs?

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MevShadowranger

· 01-08 20:23

Did I misunderstand something? Is Polygon now starting to play the traditional finance game? Spending over 100 million directly to buy ATM machines—this logic is a bit crazy. Wait, can this really increase on-chain activity? It seems a bit out of line... Sequoia Capital again, do these investors really believe Polygon can turn things around? Why buy ATM machines? It would be better to just invest directly in building the ecosystem. It would be more interesting if this deal falls through. Is Polygon learning from Coinbase to do traditional payments? That's interesting. Spending over 100 million to buy an ATM supplier—how do they justify this? Basically, it's just throwing money to buy user touchpoints, with no technical content. It feels like Layer2s are now all starting to "shift from virtual to real," which is a bit crazy.

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MiningDisasterSurvivor

· 01-08 20:11

I've been through this routine before, raising funds, burning money to buy assets to tell stories. That was how projects operated in 2018. Can Coinme save Polygon? Wake up, brother. ATM business is already a sunset industry. Is Sequoia's money meant to be wasted like this? Isn't there a better use for it? The Layer2 ecosystem is so competitive; spending over 100 million dollars on ecosystem development might be more effective. Honestly, it's still about storytelling and fundraising. Let's wait and see if they can squeeze another round. Another "strategic upgrade," the last time I heard that phrase was before Luna. Instead of buying ATMs, it's better to lower gas fees, really. What is Polygon betting on? Betting on the integration of traditional payment networks and on-chain finance? I doubt it.

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