Polygon Targets $50M-$100M Equity Round as Token Sheds 90%

Polygon Labs is targeting a $50 million to $100 million equity raise to fund its Open Money Stack stablecoin payments platform, per The Information, citing unnamed sources. The company declined to comment.

The raise comes after Polygon’s native token shed 90% of its value over two years, a collapse that makes the financing math clear: the token can’t support a pivot, so equity will. In January, Polygon bought cryptocurrency exchange Coinme and wallet infrastructure provider Sequence for more than $250 million to seed the same stablecoin payments push.

What does the equity buy? The Open Money Stack bundles wallets, regulated on- and off-ramps, and cross-chain payment orchestration settled on Polygon’s chain. Revolut has processed $1.2 billion in cumulative stablecoin volume on Polygon. In March, the chain handled 178.1 million U.S. dollar-based stablecoin transactions; prediction market Polymarket makes up nearly half of all trading volume on Polygon.

Polygon’s stated aim: complement, not compete with, Stripe and Mastercard. Stablecoin legislation passed in July 2025 opened the door. CEO Marc Boiron framed the January acquisitions as buying “regulated access to U.S. payment rails,” the core asset any payments company needs before institutional clients will touch the platform.

The raise is early stage, and it’s not clear when a close is expected.

Diana Kowalski