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Polygon Labs Raising $100M for Payments Business: The Information
Polygon is reportedly seeking to promote real-world payments use cases on its EVM blockchain with a new stablecoin startup.
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According to a report from The Information, Polygon Labs is in early talks to raise up to $100M to launch a new stablecoin payments business.
What's the Scoop?
- Cash Raise: Citing anonymous sources familiar with the talks, The Information reports that Polygon Labs is seeking $100M to build a new stablecoin payments business. The firm is allegedly selling equity shares worth between $50M to $100M in its new stablecoin venture.
- Foundational Services: In January, Polygon acquired crypto startups Coinme and Sequence for a combined $250M. The former is a licensed money transmitter in 48 U.S. states that provides on and off-ramp services for crypto users, and the latter is a crypto wallet infrastructure provider.
- Token Slump: POL briefly doubled to start 2026, but the rally quickly unraveled. The token swiftly erased those gains – staring down the barrel of fresh all-time lows since February – and now sits ~97% below its December 2021 peak. While token holders will not likely to receive any direct benefits from a completed raise, Polygon's payment business will aim to increase transaction activity within the Polygon ecosystem.
Scoop: Polygon Labs is in early talks to raise up to $100 million to launch a new stablecoin payments business, according to sources.
— Yueqi Yang (@Yueqi_Yang) April 8, 2026
It's rare for a blockchain developer to enter regulated payments business. With this move, Polygon hopes to drive stablecoin volume on its…