The post Polygon Trims Workforce Amid $250M Open Money Stack Payments Pivot appeared on BitcoinEthereumNews.com.

Polygon Labs has cut personnel as it pivots more aggressively to a payments-first strategy built around stablecoin rails and what it calls an “Open Money Stack,” a new, vertically integrated set of services designed to move money onchain. The layoffs came just days after announcing a deal worth as much as $250 million to acquire US crypto ATM and payments company Coinme and wallet and developer platform Sequence.  Polygon did not publicly disclose how many roles were eliminated, but according to multiple sources on social media platforms like X, a reduction as large of 30% in staff has been linked to the post‑acquisition integration.  Cointelegraph reached out to Polygon Labs for comment, but had not received a response by publication. Polygon says cuts reflect payments focus, not performance ​Polygon CEO Marc Boiron framed the recent acquisitions as part of a longer‑running effort to narrow the company’s mandate. In a post on X, he said, “Over the past few months, we’ve sharpened Polygon Labs’ focus around one mission: moving all money onchain.” He added that the Coinme and Sequence deals brought “deep expertise across regulated payments, wallets, and interop.”  Related: DeadLock ransomware hides using exploited Polygon smart contracts As those teams are integrated into a combined organization, Boiron said Polygon “had to make the difficult decision to consolidate some overlapping roles,” with the goal of becoming the leading payments-focused blockchain company. Layoffs at Polygon. Source: Marc Boiron He emphasized that total headcount would be similar after the changes, and described the shift as “about structure, not performance.” ​Boiron called the departing staff “exceptional” and said the company was committed to actively supporting them through the transition, acknowledging that “this is one of the hardest parts of building a company and accelerating the growth of a protocol.”  Former employees publicly confirmed they…

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Filed under: News - @ January 16, 2026 4:22 pm