Polygon Nears Deal to Acquire Bitcoin ATM Operator Coinme, Transaction Value Could Reach $125 Million

BlockBeats News, January 9th, according to sources familiar with the matter, Polygon is nearing a deal to acquire the US Bitcoin ATM operator Coinme, with the transaction amount expected to be between $1 billion and $1.25 billion. Currently, the transaction is still in a non-public stage.

The news said that Polygon's acquisition this time is advised by the investment bank Architect Partners. Coinme is one of the earliest Bitcoin ATM operators in the United States. It launched its first compliant Bitcoin kiosk as early as May 2014, with its business now covering approximately 49 states in the US and supporting various mainstream cryptocurrencies in offline scenarios such as supermarkets.

Polygon previously completed a $450 million financing round in 2023, led by Sequoia Capital India. This potential acquisition is seen as an important step for Polygon to expand into crypto payments and offline entry scenarios.