Polygon Labs, the company behind the Polygon blockchain, is reportedly holding early discussions to raise as much as $100 million for a new stablecoin payments business, according to a Wednesday report from The Information.
Nothing has been finalized yet, and the fundraising terms could still change.
If the plan moves forward, it would mark another clear step in Polygon’s expansion beyond blockchain infrastructure and into real-world payment services.
Earlier deals laid the groundwork
Polygon’s latest reported fundraising effort comes after its January announcement that it had signed definitive agreements to acquire Coinme and Sequence.
At the time, Polygon said the two acquisitions would help it create a more complete setup for regulated stablecoin payments in the United States.
Each deal supports that goal in a different way. Coinme helps connect traditional money with digital assets through its licensed on- and off-ramp services. Sequence brings wallet technology and on-chain payment tools built for businesses.
Reuters reported in January that the two transactions were worth more than $250 million combined. The report said Polygon was using the deals to strengthen its stablecoin payments strategy and build regulated payment infrastructure in the U.S.
Marc Boiron, Polygon’s chief executive, also said the company plans to begin with business-to-business payments before moving into consumer services later on.
“Our ambition is to establish ourselves as a regulated payments entity in the U.S. Payments represent the most compelling use case,” he Boiron Reuters in January.
Stablecoin payments are becoming a bigger focus
Stablecoins are digital tokens built to keep a stable value, usually by being linked to the U.S. dollar. They are becoming more popular as quicker and lower-cost tools for sending money, settling transactions, and supporting financial apps.
Polygon has spent years building tools and networks around Ethereum, but now it seems to be going after a much larger opportunity.
If Polygon Labs secures this funding, it would place itself among a growing group of companies that believe stablecoins could become a major part of online payments.
That view is already spreading across the industry.
Companies like Stripe and PayPal have also been expanding their crypto payment offerings, showing that interest in faster and more global payment systems is clearly growing.
Polygon sees next three years as key to the future of payments
In a combined report released in January, Polygon leaders, including Marc Boiron and Sandeep Nailwal had said the 2026 to 2028 period could be crucial in shaping how money moves globally, as more companies race to build payment systems on blockchain.
They also explained that the financial system is gradually shifting away from traditional banking rails toward faster, blockchain-driven networks.
Stablecoins are expected to play a central role in that transition because they make it easier to move money quickly, at lower cost, and across borders without delays. Polygon believes this shift will encourage more businesses to adopt on-chain payments over time.
At the same time, they introduced the idea of the “Open Money Stack,” a system designed to make payments simple and seamless for users.
The goal is to hide the technical complexity of blockchain while keeping transactions fast and efficient. Polygon also plans to handle licensing and regulation through separate entities to meet compliance needs as it expands its payments business.
Polygon leaders said the company holds a strong position in this shift. Over the past six years, they noted that Polygon has grown into a widely used blockchain platform, supporting millions of users, thousands of applications, and major institutions.
They added that the network has already handled more than $2 trillion in on-chain value transfers, showing it can operate at global scale.
Moreover, Polygon activated the Giugliano hard fork on April 8 at block 85,268,500 as part of its effort to improve network speed and overall performance.
The upgrade is designed to shorten transaction finality time and make the network run more smoothly for both users and applications.
POL price reaction
Following Polygon’s latest moves, its native token, POL, previously known as MATIC, showed little reaction in the market. The token was trading at $0.09015, up around 0.25 percent over the past 24 hours.
Polygon’s market value was about $951 million, while its 24-hour trading volume stood at roughly $79 million. CoinGecko data shows the token remains well below its earlier highs, even though it is still a little above its February low.