Polygon Trims Workforce Amid $250M Open Money Stack Payments Pivot

Polygon Labs has implemented workforce reductions as it shifts its focus toward a payments-first strategy utilizing stablecoin rails and the "Open Money Stack," an integrated set of onchain money movement services. These layoffs followed recent announcements of deals potentially worth $250 million to acquire Coinme and Sequence. While Polygon did not disclose the exact number, sources suggest a staff reduction of up to 30% linked to post-acquisition integration. CEO Marc Boiron stated the cuts were necessary to consolidate overlapping roles following the integration of expertise from the acquisitions, emphasizing the move was about organizational structure and sharpening the mission to move all money onchain, not performance. This follows previous restructurings at Polygon over the last two years, mirroring similar cost-cutting and streamlining efforts seen across major crypto firms like Coinbase and Binance.

(Source：Cointelegraph)