Polygon Labs is reportedly in early-stage fundraising discussions to back a new stablecoin payments business, aiming to raise as much as $100 million.
Sources close to the situation told BeInCrypto that early targets for the raise are in the $50–100 million range. The company is intentionally sizing the round to align with current market conditions and long-term growth plans.
“Polygon opted for an equity structure because the payments business operates under a fundamentally different model than its token-driven network. Their plans are to generate revenue through enterprise APIs and transaction fees. The payments business and the network are two different assets with two different business models. The equity raise values a pre-revenue enterprise payments company. POL reflects the value of a live blockchain network with its own economics,” the sources added.
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The fundraising push comes as broader crypto markets remain under pressure. The new venture might be a strategic move for the firm “to diversify out of a market that has stalled,” The Information noted.
In January, Polygon signed definitive agreements to acquire payments firm Coinme and wallet infrastructure provider Sequence.
“Together with Polygon’s blockchain rails, these acquisitions complete the core infrastructure required to offer regulated stablecoin payments in the U.S. and beyond, forming the foundation for Open Money Stack,” the announcement read.
The timing of Polygon’s pivot aligns with strong growth across the stablecoin sector. In 2025, stablecoins processed $28 trillion in real economic volume, according to Chainalysis.
BeInCrypto also reported that stablecoin monthly transaction volume then reached $7.2 trillion in February 2026, overtaking the Automated Clearing House (ACH) network’s $6.8 trillion for the first time.
Industry projections reinforce the long-term thesis. At XRP Tokyo 2026, Ripple shared a flyer projecting $33 trillion in onchain stablecoin volume for 2026. Meanwhile, Chainalysis estimates that adjusted stablecoin volume could reach $719 trillion by 2035 through organic growth alone.
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