Polygon Labs completes acquisition of Coinme, with approximately 6,000 crypto ATMs to be gradually shut down
Polygon completes Coinme buy as 6,000 crypto ATMs head for shutdown
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Polygon Labs has completed its acquisition of Coinme, gaining money transmitter licenses in 37 states, 11 exemptions, and FinCEN MSB registration, expanding its regulated payments coverage to 48 U.S. states. These credentials will be integrated into Open Money Stack, which brings fiat on- and off-ramps, wallets, cross-chain routing, and settlement into a single integration. Businesses can use stablecoins to hold or settle funds and pay recipients in their local currency.
The material presents both the expansion of licenses and the compliance disposition, allowing readers to see the regulatory constraints that accompany Polygon’s efforts to complete its payments infrastructure through the acquisition.
Source:Cryptopolitan · cryptopolitan.com