Polygon, an Ethereum Layer-2 blockchain designed to achieve faster transaction speeds and lower fees, is close to acquiring Coinme, one of the first U.S. bitcoin ATM kiosk providers, according to two people familiar with the matter.
Polygon is looking to buy the kiosk provider for $100 million to $125 million, and is being advised by Architect Partners, one of the people said, who spoke on condition of anonymity as the matter is private.
Coinme did not provide a comment by the time of publishing. Polygon declined to comment.
Coinme, which activated its first licensed bitcoin ATM on May 1, 2014, went on to operate bitcoin ATMs in around 49 U.S. states. It later added a range of popular crypto tokens to its grocery store kiosks, Coindesk reported back in 2022.
Polygon raised $450 million in a funding round led by Sequoia Capital India in 2023.
Read more: Polygon Labs unveils ‘Open Money Stack’ to power borderless stablecoin payments