Polygon Labs has laid off an undisclosed number of employees as it enters the final stages of acquiring crypto payments company Coinme, a move the company says is part of a bigger restructuring aimed at profitability by 2027.
CEO Marc Boiron announced the decision in a post on X, saying the changes are tied to Polygon’s transition from operating as a blockchain foundation to becoming a blockchain-enabled payments company. He said the Coinme team will join Polygon Labs once the acquisition is completed.
Boiron described the layoffs as difficult but necessary, stressing that they reflect the company’s changing structure rather than the performance of affected employees.
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
Polygon changes its focus to payments
According to Boiron, the restructuring is designed to match Polygon’s changing business priorities. He said a blockchain foundation and a blockchain-enabled payments company require different organizational structures and talent. The company decided to make the changes now because its payments business is growing quickly.
Boiron pointed to rising revenue, record stablecoin transaction volume, a stronger customer pipeline, and the recent launch of Polygon’s on-chain payments solution as signs that the company is entering a new phase.
Polygon said departing employees will receive severance packages and career support. Boiron also encouraged companies hiring in the crypto industry to consider former Polygon employees, offering to personally recommend them.
Payments are becoming the next competition for blockchain networks
Blockchain networks once competed mainly on transaction speed, fees, and developer activity. That competition is now extending into payment infrastructure as stablecoins move deeper into cross-border transfers, merchant payments, and financial services.
Networks that once focused on supporting decentralized applications are increasingly building payment tools, treasury products, and financial infrastructure aimed at businesses. Acquiring payment companies has become one way to speed up that transition instead of building every service internally.
Coinme gives Polygon an established payments business with experience connecting digital assets to traditional financial systems. As stablecoin usage continues to grow, payment infrastructure is becoming just as important as blockchain scalability.
The restructuring shows that Polygon wants to compete in that market while building a business model centred on commercial payment services rather than foundation-led ecosystem development.
Additionally, Polygon Labs joined forces with Dubai-based Cypher Capital to push institutional adoption of POL, the token powering the Polygon network. The partnership is designed to focus long-term capital into the blockchain ecosystem, while improving liquidity, unlocking yield opportunities, and building network security.
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