Polygon

What Polygon does

Polygon (legal entity: Polygon Labs UI (Cayman) Ltd.) is a private blockchain infrastructure company founded in 2017 in India by Sandeep Nailwal, Jaynti Kanani, Mihailo Bjelic, and others, originally launched as Matic Network and rebranded to Polygon in 2021. Its core platform consists of Polygon Chain, an EVM-compatible proof-of-stake settlement layer with ~2-second finality, 110+ TPS, $0.002 average transaction cost, and 7+ billion total transactions; Polygon CDK, an enterprise toolkit for deploying ZK-powered custom chains with Agglayer cross-chain connectivity; and the Agglayer cross-chain interoperability protocol with bridge-and-call capabilities. The company is repositioning from Ethereum-scaling origins into payments-rail infrastructure, anchored by the Open Money Stack (OMS) - a unified API for cash ramps, bank ramps, custodial wallets, and stablecoin settlement that entered technical preview in July 2026.

Polygon serves three primary customer segments: (i) financial institutions and payment networks (Visa, Mastercard, Stripe, PayPal/PYUSD, Revolut, Shift4, Flutterwave, Cash App, Meta) requiring compliant stablecoin settlement and cross-border rails; (ii) large enterprises (e.g., Apex Group committing $100B in RWA tokenization on Polygon CDK by June 2027) needing private blockchain deployments with public-liquidity connectivity; and (iii) Web3 developers and dApp builders (with ~3,000 dApps as of late 2025 per Alchemy). Monetization spans POL gas fees (base fees burned per EIP-1559, priority fees to validators), validator staking rewards on $2.78B+ in staked MATIC, managed CDK deployments, and emerging OMS enterprise contracts. Recent strategic emphasis is on AI-agent payment flows (Polygon Agent CLI, ERC-8004 identity, Mastercard AP4M, x402 Foundation) given ~8 million daily agentic transactions on the network.

The company has raised approximately $450M since founding (notably a 2021 round at a $14.4B valuation led by Sequoia/SoftBank/Tiger Global) and is reportedly raising up to $100M more in 2026 to fund its stablecoin-payments pivot. Operating geographies are global, with vertical focus on payments, financial services, tokenization (RWAs), and merchant settlement. The legal entity is incorporated in the Cayman Islands with reported operational presence in India, Singapore, the U.S., the U.K., and EMEA.

Name

Polygon

Legal name

Polygon Labs UI (Cayman) Ltd.

Website

https://polygon.technology

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Polygon (Polygon Labs) is a private blockchain infrastructure company operating an EVM-compatible proof-of-stake settlement chain, an enterprise chain-development kit (CDK), and a cross-chain interoperability layer (Agglayer). It serves financial institutions, fintechs, and enterprises with stablecoin payment rails, RWA tokenization, and AI-agent commerce infrastructure.

Ownership category

akta.pro rank

Product category

Blockchain Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

akta.pro secondary industries

Blockchain Settlement & Clearing Infrastructure (On-/Off-chain Post-Trade) (FSAGAMAC), Interoperability & Integration Middleware (ERP/core banking connectors, messaging, APIs, cross-chain to permissioned) (FSAPAIAL), Settlement, Clearing & Reconciliation for Tokenized Assets (DvP, PvP, netting, post-trade) (FSAPAIAI)

Keywords

• Blockchain infrastructure
• Stablecoin payments
• Layer-2 scaling
• Cross-chain interoperability
• Enterprise blockchain

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Network Transaction Fees (Gas): Users pay POL gas fees for transactions on Polygon Chain. Base fees are burned per EIP-1559 model while priority fees go to validators. Network reached deflationary state in 2026 with 107.7M POL burned vs 105.2M minted through high transaction volume.
2. Staking Rewards: POL token holders stake to secure the network and earn rewards. Validator ecosystem has $2.78B+ in MATIC tokens staked. sPOL liquid staking unlocks staked capital for DeFi use while earning rewards.
3. Enterprise Blockchain Services: Polygon CDK provides managed deployment of custom enterprise blockchains for financial institutions. Polygon Labs raised $100M to build stablecoin payments business, targeting $250M+ acquisitions of Coinme and Sequence.
4. Cross-chain Interoperability: Agglayer enables cross-chain transactions through unified bridge architecture, connecting Polygon CDK chains to public liquidity and providing cross-chain settlement services.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Polygon operates an EVM-compatible Layer-2 blockchain (Polygon Chain) and enterprise software platform for global payments and stablecoin settlement, processing transactions at approximately $0.002 with 2-second finality. The company sells the Open Money Stack (a unified enterprise payment API with regulated on-ramps, compliant wallets, and stablecoin settlement), Polygon CDK (a toolkit for institutions to build custom ZK-powered blockchains), and the Agglayer cross-chain interoperability protocol. Supporting offerings include Sequence-based wallet infrastructure, Coinme-powered fiat on/off ramps, the Polygon Agent CLI for AI agent commerce, and the POL native token.

Product overview

Polygon is a multi-product blockchain platform providing infrastructure for global payments and enterprise blockchain solutions. The core offering is Polygon Chain, an EVM-compatible settlement layer processing over $2.4 trillion in transfer volume with 7+ billion transactions. The platform operates as a unified ecosystem with several interconnected products: Polygon Open Money Stack (OMS) serves as the enterprise umbrella providing regulated on-ramps, compliant wallets, and blockchain settlement; Polygon CDK enables institutions to build custom private blockchains with Agglayer connectivity; Polygon Agglayer and Vaultbridge power cross-chain interoperability; wallet infrastructure (via Sequence), on/off ramps (via Coinme), and Trails provide essential payment rails; while Polygon Payments, Stablecoins, RWAs, and DeFi address specific use cases. Developer tools including Polygon Agent CLI, Portal, Staking, and POL Token support the ecosystem. The company has pivoted from Ethereum scaling origins to a payments-focused strategy, with recent launches including PYUSD native issuance, Open Money Stack technical preview, private stablecoin payments via zero-knowledge proofs, and sPOL liquid staking. The ecosystem has expanded through acquisitions of Coinme and Sequence, and major integrations with Visa, Mastercard, Stripe, PayPal/PYUSD, and major financial institutions.

Differentiator

Problem solved

Functional benefit

Brands

• Open Money Stack (OMS): Enterprise-ready stack for regulated on-ramps, compliant wallets, and blockchain settlement for global payments.
• Polygon Chain
• Polygon CDK
• Polygon Agglayer
• Polygon Vaultbridge
• sPOL
• Polygon Protocol

Products and services

• Polygon Chain (Polygon PoS) Core EVM-compatible proof-of-stake settlement layer blockchain for global money movement, with approximately 2-second finality, 110+ TPS throughput, $0.002 average transaction cost, 7+ billion total transactions processed, and 99.99% uptime over five years.
• Polygon Open Money Stack (OMS) Enterprise-ready stack providing regulated on-ramps, compliant wallets, and blockchain settlement through a single integration. Supports cash deposits and withdrawals across 48 US states via partner Coinme. Early access granted to select partners with broader availability planned for fintechs, enterprises, and platforms.
• Polygon CDK (Chain Development Kit) Multistack toolkit for building ZK-powered, high-performance custom blockchain networks. Enables institutions to launch private blockchains with built-in Agglayer connectivity, 20,000+ TPS capacity, configurable privacy controls, and API-based compliance. Supports sovereign, validium, and private validium operating modes.
• Polygon Agglayer Cross-chain settlement layer unifying liquidity and users of any blockchain for interoperability and growth. Provides unified bridge for token bridging and message bridging with bridge-and-call functionality for cross-chain contract execution, using pessimistic proofs for security.
• Polygon Vaultbridge Protocol that turns total value locked (TVL) into sustainable, chain-native revenue by connecting liquidity across chains through Agglayer protocol.
• Polygon Trails Cross-chain interoperability solution enabling one-click crypto transactions across any chain. All-in-one integration for transacting with any wallet, any token, on any chain through intent-based architecture with unified liquidity.
• Polygon Payments Global payment rail solution for B2B payments, cross-border transfers, and stablecoin settlement. Targets fintechs, financial institutions, retail, and enterprise with faster, lower-cost next-gen rails.
• Polygon Stablecoins Comprehensive stablecoin infrastructure with unmatched integrations for apps, issuers, and users. Supports $3.4B+ in stablecoin liquidity with full reserve coverage and global distribution. Hosts PYUSD, USDC, USDT, and other stablecoins natively.
• Polygon RWAs (Real World Assets) Tokenization infrastructure for real-world assets on Polygon. Provides fast settlement, institutional-grade infrastructure, and battle-tested reliability for tokenized securities and assets.
• Polygon DeFi Decentralized finance ecosystem including DEX aggregation, lending, yield, and liquidity solutions. Enables borrowing with tokenized credit, cross-border swaps, and access to DeFi liquidity that operates 24/7.
• Polygon Wallet Infrastructure (Sequence) Enterprise-grade wallet solutions enabling one-click wallet creation for users. Provided through Sequence.xyz integration, offering seamless onboarding with embedded wallet functionality for applications.
• Polygon On/Off Ramps (Coinme) Fiat on-ramps and off-ramps for physical cash and digital currency. Provided through Coinme partnership, enabling users to convert between fiat and crypto with enterprise-grade security and physical cash deposit/withdrawal support.
• Polygon Agent CLI Command-line tool giving AI agents full on-chain superpowers. Enables developers to build autonomous agent payment flows with ERC-8004 on-chain identity integration.
• Polygon Portal Web-based interface for bridging assets between Ethereum and Polygon, managing positions, and accessing token migration tools including MATIC-to-POL upgrade functionality.
• Polygon Staking Native staking platform for POL token enabling network security participation with delegations to validators. Includes restake reward functionality, community airdrop programs, and sPOL liquid staking.
• POL Token Native gas and staking token powering Polygon as the utility token securing the network, enabling transaction fee payments, and providing access to network services.
• sPOL (Liquid Staking Token) Liquid staking token that unlocks staked POL capital for use in DeFi protocols while continuing to earn staking rewards.

Quantifiable outcome

• Stablecoin transaction cost: $0.002 vs. $0.35-$3.50 for traditional card networks (98%+ savings)
• +4 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration31 records

AI capability5 records

Feature7 records

Partnerships

13 partnerships are on record, tiered core and minor.

• PayPal / PaxoscoreStrategic or Co-development Partner · 9 July 2026PayPal enabled native issuance of its PYUSD stablecoin on Polygon blockchain through issuer Paxos. The integration allows PYUSD to be minted directly on the network rather than through cross-chain bridges, offering faster settlement and lower transaction costs. PYUSD expansion extends beyond Ethereum and Solana to Polygon's network covering 70 countries.
• FlutterwavecoreStrategic or Co-development Partner · 17 June 2026Flutterwave, Africa's highest-valued fintech ($3.2B valuation), integrated Polygon for its multi-rail settlement system. Partnership enables cross-border payments across 34 African markets using stablecoins, bypassing expensive correspondent banking networks.
• RevolutcoreTechnology or Integration · 18 May 2026Revolut launched physical cryptocurrency debit card with Polygon integration, enabling POL staking for everyday payments. Reported record profits of $2.3B on $6B revenue in 2025, targeting IPO at $150-200B valuation.
• MastercardcoreStrategic or Co-development Partner · 30 April 2026Mastercard included Polygon in its Crypto Partner Program (85+ companies) and launched verified username transfers on Polygon, replacing 42-character wallet addresses with human-readable names. Also part of Agent Pay for Machines (AP4M) with 30+ partners for AI agent payments.
• VisacoreStrategic or Co-development Partner · 29 April 2026Visa expanded its stablecoin settlement pilot to include Polygon, bringing the program to 9 blockchains with $7 billion annualized run rate (50% QoQ growth). Polygon is now among the networks for Visa's global stablecoin settlement covering 130+ stablecoin-linked card programs across 50+ countries.
• MetacoreStrategic or Co-development Partner · 29 April 2026Meta launched USDC creator payouts for Facebook creators in Colombia and Philippines on Polygon and Solana. Polygon processed 54% of all USDC transfers globally in April 2026. Expansion planned to 160+ markets by end of 2026 via Stripe.
• CoinmecoreImplementation/ SI/ Consulting PartnerPolygon acquired Coinme for $100-125 million to build regulated U.S. payments platform. Coinme provides on/off-ramp infrastructure for fiat-to-crypto transactions across 48 U.S. states. Integration enables physical cash deposits and withdrawals through Polygon's Open Money Stack.
• SequencecoreImplementation/ SI/ Consulting PartnerPolygon acquired Sequence (part of $250M+ deals) to provide wallet infrastructure. Sequence.xyz offers enterprise-grade wallet solutions integrated into Polygon's Open Money Stack for seamless user onboarding.
• AlchemycoreTechnology or IntegrationAlchemy data shows explosive growth in Polygon developer ecosystem with teams doubling every two months. Approximately 3,000 dApps built on Polygon as of October, up from 30 a year prior. 145% month-over-month usage growth with 62% of projects exclusive to Polygon.
• StripecoreTechnology or IntegrationStripe selected Polygon for AI agent payments and provides crypto-specific tax reporting services for Meta's stablecoin payouts. Stripe processes payments for platforms building on Polygon's payment infrastructure.
• PaxoscoreTechnology or IntegrationPaxos has processed over $1.3 billion in stablecoin volume on Polygon with sub-cent fees, achieving 50x volume growth in under 12 months. Issues USDG, PYUSD, USDC, and USDP on Polygon, Ethereum, and Solana.
• Apex GroupcoreStrategic or Co-development PartnerApex Group ($3.5T in assets under administration) committed to tokenizing $100 billion in real-world assets on T-REX Ledger using Polygon CDK by June 2027. Blockchain architected for regulated securities using ERC-3643 token standard.
• x402 FoundationminorStrategic or Co-development PartnerPolygon participates in x402 Foundation (incubated by Coinbase) for agentic AI payments protocol. Foundation includes Google, Microsoft, AWS, Amex, Mastercard, Visa under Linux Foundation governance.

Scale indicators15 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Solana: Solana is a high-throughput L1 directly competing with Polygon for stablecoin settlement volume and USDC flow. It is named alongside Polygon as a primary chain for Visa, PayPal/PYUSD, and Circle USDC, and is the closest like-for-like competitor in payments-oriented L1/L2 infrastructure.
• Arbitrum: Arbitrum is a leading Ethereum L2 competing head-to-head with Polygon for DeFi TVL, developer mindshare, and stablecoin activity. Both chains target EVM-equivalent scaling with a similar enterprise focus on payments and tokenization.
• Base: Coinbase's Ethereum L2 is one of the nine blockchains in Visa's stablecoin settlement pilot alongside Polygon and competes for the same developer, wallet, and stablecoin workloads. Base's distribution via Coinbase gives it comparable enterprise reach.
• Avalanche: Avalanche is a competing L1 with its own subnet architecture (analogous to Polygon CDK) targeting enterprise blockchain deployments, RWA tokenization, and payments. It competes with Polygon for institutional deployments and stablecoin liquidity.
• Optimism: Optimism is an Ethereum L2 whose OP Stack powers a number of L2s and competes directly with Polygon CDK for institutions building custom chains. Both are pursuing enterprise and RWA tokenization narratives on EVM-equivalent infrastructure.

Broad incumbents

• Stellar Development Foundation: Stellar is an established payments-focused blockchain competing with Polygon for remittances, B2B payments, and stablecoin transfer volume, particularly through MoneyGram and other distribution partners. It is comparable as a payments-first chain rather than a general-purpose L1.
• Mastercard: Mastercard is a partner via the Crypto Partner Program and AP4M, but is also building competing on-chain settlement, verified username, and agent-payment infrastructure. Comparable as an incumbent expanding into the same stablecoin and agent-payment territory.
• Stripe: Stripe is a payment platform partner for Polygon's USDC and agent-payment flows, but also operates its own crypto on-ramps and stablecoin products. It is comparable as a developer-first payments incumbent whose distribution Polygon relies on and competes against for merchant relationships.
• Ripple (XRP): Ripple operates a broader cross-border payments network and stablecoin (RLUSD) competing with Polygon's stablecoin settlement and remittance use cases. Ripple has deeper incumbent bank distribution, while Polygon offers a public, EVM-compatible alternative.
• Visa: Visa is both a partner and a structural incumbent: it operates its own stablecoin settlement pilot across 9 chains including Polygon and is exploring tokenized deposit rails. It competes with Polygon's Open Money Stack at the merchant and consumer payments layer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/0xPolygon
• GitHubgithub.com/0xPolygon
• LinkedInlinkedin.com/company/polygonlabs

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries3 records

Funding overview

Funding rounds8 records

Investors52 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments130 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Polygon