Polygon Labs trims workforce to support Coinme integration

Polygon Labs has cut another round of jobs as it completes the integration of crypto exchange Coinme, part of a restructuring that the company says is intended to support profitability by 2027. Summary Polygon Labs has reduced its workforce as it completes the integration of Coinme and moves toward a payments focused business model. CEO Marc Boiron said the restructuring is intended to help position the company for profitability by 2027 while expanding through the Coinme merger. The latest cuts extend a multi year restructuring as Polygon continues shifting its focus from blockchain infrastructure to payment services. According to Polygon Labs CEO Marc Boiron, the workforce reduction comes as the company enters the final stages of acquiring Coinme and prepares to merge its operations into Polygon Labs, a move he said will expand the organization while changing its focus from a blockchain foundation to a blockchain-enabled payments company. In a post on X, Boiron said the layoffs were a difficult but necessary part of the transition. He added that integrating the Coinme team would increase the company’s headcount overall even as existing roles were eliminated during the restructuring. We are in the final stages of completing the Coinme acquisition, which will involve integrating that team into Polygon Labs, a move that will grow our organization as part of a broader merger exercise to position Polygon Labs to be profitable in 2027. As part of that process,… — Marc | Polygon Labs (💜,⚔️, ※) (@0xMarcB) July 16, 2026 The latest changes extend a strategy Polygon Labs has been pursuing for months. In January, the company spent about $250 million to acquire crypto exchange Coinme and wallet infrastructure provider Sequence, describing both businesses as core building blocks of its Polygon Open Money Stack. The platform is designed as a vertically integrated payments infrastructure that allows blockchain-based payments to operate with fewer intermediaries while making transfers as seamless as traditional payment systems. Restructuring continues as payments become the priority Although Polygon has traditionally focused on blockchain infrastructure, its priorities have changed over the past year. In mid-2025, Polygon co-founder Sandeep Nailwal became CEO of the Polygon Foundation and announced plans to retire the Polygon zkEVM chain, which had been built using technology acquired through Hermez Network and Mir Protocol. Thursday’s layoffs also continue a series of workforce reductions across the company. Polygon previously eliminated about 100 roles, or roughly 20% of its workforce, in February 2023, followed by another 60 positions during a 19% reduction in 2024. Earlier this year, the company cut another 60 employees, a move widely linked to preparations for integrating the Coinme and Sequence acquisitions.