Polygon Lays Off Nearly 30% of Staff, Focuses on Stablecoin Payments

Major Restructuring After Acquisitions

Polygon has reportedly cut nearly 30% of its workforce, a move linked to the integration following its $250 million acquisitions of Coinme and Sequence. The company emphasized that the layoffs are part of a broader effort to streamline operations and maintain long-term workforce stability.

Shifting Focus to Payment-Centric Strategy

Previously, Polygon announced a strategic shift from being primarily a scaling and DeFi platform to one prioritizing payment infrastructure. The company launched its Open Money Stack initiative to drive forward compliant stablecoin payments and improve liquidity flows across blockchain networks.

Leadership Highlights Integration Goals

According to Polygon’s CEO, consolidating certain roles was a necessary step in aligning the company's resources, while the overall team size is expected to remain relatively constant.