Recent reports indicate that Polygon Labs has executed significant layoffs, affecting approximately 30% of its global workforce this week. This drastic measure follows the recent acquisition of two key companies for a total of $250 million, according to various sources and employees on social media. CEO Marc Boiron explained that this restructuring responds to a strategic alignment towards a vision focused exclusively on payments.
The staff cuts occur immediately after the company announced the purchase of Coinme, a U.S. payments firm, and Sequence, a wallet and development platform. These operations, valued at more than $250 million combined, seek to build what they call the “Open Money Stack.” The goal is to create a vertically integrated system to move money on-chain using regulated stablecoins. Boiron clarified on the X platform that, by integrating these new teams with deep expertise, overlapping roles were consolidated leading to difficult staffing decisions.
The consolidation of a regulated and scalable payments infrastructure
Likewise, this move marks a clear narrowing of the company’s focus, moving away from broad ecosystem expansion to concentrate on payments infrastructure and settlement rails. Coinme brings a national compliance footprint in 48 U.S. states and over 50,000 retail kiosks, something difficult to build organically. On the other hand, Sequence provides embedded wallets and tools that abstract technical complexity. This strategy seeks to solve the current friction in transactions between fiat and the blockchain environment.
Moreover, although the layoffs are painful, the company maintains that its financial position remains solid and that it is not a crisis issue. Protocol revenue has exceeded $1.7 million since the beginning of January 2026, suggesting that the cuts were driven by strategic reprioritization and not a lack of capital. The integration of teams expert in payments and wallets could strengthen Polygon’s position in the competitive regulated stablecoin sector.
Is this restructuring the norm in the current industry?
Several departing employees expressed mixed feelings on social media, describing the exits as difficult but maintaining optimism about the protocol’s future. However, this is not the first time the company has sought to optimize operations, having carried out previous cuts of around 19% in 2024. Polygon’s move adds to a broader wave of restructuring across the entire crypto industry.
Finally, the situation reflects a trend where companies reassess costs and focus areas after years of rapid expansion. Executives have previously signaled that these moves are designed to reduce complexity and focus resources more efficiently. The emphasis on payments and wallet expertise will be crucial for Polygon’s next phase in the market.
