Polygon is considering acquiring Bitcoin ATM provider Coinme for between $100 and $125 million.

Ethereum’s second layer network, Polygon, is reportedly looking to acquire US bitcoin ATM PROVIDER Coinme for a purchase price between $100 million and $125 million.

Informed sources told CoinDesk that the scaling of the Ethereum network “about toAcquiring a Bitcoin ATM company, where Architect Partners acts as a financial advisor.

Cryptonews reached out to Coinme officials for confirmation.

Coinme is one of the first companies to enter the Bitcoin ATM business in the United States. The company launched its first cryptocurrency kiosk in 2014, and now has more than… 50 thousand Bitcoin ATM locations In 49 US states.

Has Coinme Suspended Bitcoin ATM Services?

Last month, the Washington State Department of Financial Institutions ordered Coinme to stop all money transfer services. The regulator alleges that the Seattle-based company illegally converted unaccounted-for customer funds into company funds.

In addition, the Department of Financial Supervision ordered the company to return more than US $ 8 million to customers. Coinme reportedly asked customers to buy paper vouchers from automated machines and use them online. However, when the vouchers were not used within the specified time, Coinme claimed that the borrowed money was its own money.

As a result, Coinme now faces the possibility of having its license revoked, a $300,000 fine, and a 10-year ban on the company and its CEO, Neil Bergquist.

Polygon’s acquisition of Coinme is considered an important step for both companies, because Polygon completed a $450 million investment in 2023, led by Sequoia Capital India.

A note Polygon is considering acquiring Bitcoin ATM provider Coinme for between $100 and $125 million. appeared for the first time Cryptonews Arabic.

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