- Polygon Labs reduced staff following major payments-focused acquisitions.
- The company is prioritizing stablecoin rails and onchain money movement.
- Layoffs reflect structural consolidation, not financial distress.
Polygon Labs has reduced its workforce as the company sharpens its focus on becoming a payments-first blockchain platform, signaling a deeper strategic shift rather than a reaction to market stress.
The layoffs come shortly after Polygon announced plans to acquire crypto payments firm Coinme and wallet and developer platform Sequence in a deal valued at up to $250 million. While the company has not disclosed the number of roles affected, multiple reports circulating on X suggest the reduction may be as high as 30%, tied largely to post-acquisition integration.
Polygon Labs did not respond to requests for comment by publication.
A Strategic Pivot Toward “Open Money” Infrastructure
Polygon CEO Marc Boiron framed the staff reductions as part of a longer-term restructuring aimed at narrowing the company’s mission. In recent public comments, Boiron emphasized that Polygon Labs is concentrating on one core objective: moving money fully onchain.
The acquisitions of Coinme and Sequence are central to that vision. Coinme brings experience in regulated crypto payments and ATM infrastructure, while Sequence adds wallet tooling and developer services. Together, these components form what Polygon calls its “Open Money Stack,” a vertically integrated suite designed to support stablecoin payments at scale.
As the teams merge, overlapping roles became difficult to avoid. Boiron described the decision as structural, not performance-related, noting that overall headcount would remain roughly the same once integration is complete.
Departing Employees Strike a Measured Tone
Several former Polygon employees confirmed their departures publicly, but many expressed optimism rather than frustration. Social media posts described pride in the work accomplished and confidence in Polygon’s future direction, even as individuals acknowledged the difficulty of the transition.
Boiron echoed that sentiment, calling the affected employees “exceptional” and stating that Polygon is committed to supporting them as they move on. He also acknowledged the emotional toll of workforce reductions, calling it one of the hardest parts of scaling a protocol-focused company.
Part of a Broader Crypto Industry Trend
Polygon’s latest restructuring is not an isolated event. The company has already undergone significant changes over the past two years, including a workforce reduction of nearly 20% and the spin-off of non-core units such as Polygon Ventures and Polygon ID.
Across the industry, major crypto firms continue to consolidate. Coinbase and Binance have both executed large layoffs in recent years, while newer protocols are also trimming teams to stay lean. Even as onchain activity shows signs of recovery, cost discipline remains a defining theme.
Also Read: Polygon Targets Stablecoin Dominance With Massive Coinme Deal
Polygon Labs’ latest cuts underscore a broader recalibration underway in crypto. Rather than expanding across multiple verticals, the company is doubling down on payments, stablecoins, and infrastructure that connects traditional finance with onchain rails. Whether that focus delivers long-term dominance will depend on execution—but Polygon is clearly betting that clarity beats scale.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. CoinBrief.io is not responsible for any financial losses.
