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Polygon Labs cuts 60 jobs as it shifts to blockchain payments, closing Coinme deal.

Protocol Fundamentals
16 Jul 2026
Crypto Briefing
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Neutral
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Polygon Labs is laying off about 60 employees as it transitions from a blockchain foundation to a blockchain-enabled payments company. This move coincides with its acquisition of crypto payments firm Coinme, whose team will be integrated into Polygon. CEO Marc Boiron emphasized that the restructuring aims to make the company profitable by 2027, despite the difficult layoffs. Polygon highlights strong business fundamentals, including stable revenue, record stablecoin activity, and growth in its customer pipeline, as it rapidly deploys its onchain payments product.

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