Polygon Labs buys two crypto startups for $250 million as it looks to compete with Stripe

The blockchain developer Polygon Labs has closed deals to buy the crypto startups Coinme and Sequence. The total purchase price for the two startups was for more than $250 million, but Polygon Labs declined to disclose how much it paid for each, or whether the deals were for cash, equity, or a mix of both. 

The acquisitions are meant to aid the blockchain network’s stablecoin strategy, said Polygon Labs CEO Marc Boiron and Polygon Foundation founder Sandeep Nailwal in an interview. The Seattle-based Coinme...