Polygon is close to acquiring Bitcoin ATM operator Coinme, with the deal potentially valuing the company at $125 million.

According to Mars Finance, on January 9th, sources familiar with the matter revealed that Polygon is close to acquiring Coinme, a US-based Bitcoin ATM operator, for an estimated $100 million to $125 million. The deal is currently not publicly disclosed. The report states that Polygon is being advised by investment bank Architect Partners. Coinme is one of the earliest Bitcoin ATM operators in the US, having launched its first compliant Bitcoin self-service terminal in May 2014. It currently operates in approximately 49 US states and supports various mainstream cryptocurrencies in offline scenarios such as supermarkets. Polygon completed a $450 million funding round in 2023, led by Sequoia Capital India. This potential acquisition is seen as a significant step for Polygon in expanding into crypto payments and offline entry points.