Polygon Labs is reported to have reduced its workforce by nearly 30 percent as the company accelerates a strategic shift toward onchain payments and regulated financial infrastructure. While the firm has not issued an official statement confirming the scale of the layoffs, multiple employee disclosures and industry discussions suggest the cuts followed closely after Polygon announced acquisitions valued at more than $250 million. The changes are understood to be tied to internal restructuring rather than liquidity stress, as Polygon narrows its focus to stablecoin powered payments, wallets, and settlement rails. The move reflects a broader effort by Polygon to streamline operations and align teams around a payments first vision that prioritizes real world financial use cases over expansive ecosystem growth. Executives have indicated that overlapping roles emerged after recent integrations, prompting difficult staffing decisions as the company reorganized around a more concentrated operational mandate.
The restructuring follows Polygon’s agreement to acquire U.S. based crypto payments firm Coinme and wallet and developer platform Sequence. Together, the acquisitions form the foundation of what Polygon describes as its Open Money Stack, an integrated framework designed to move money onchain using stablecoins with regulatory compliance at its core. Coinme brings licensed fiat on and off ramps across 48 U.S. states and access to tens of thousands of retail crypto kiosks, providing Polygon with immediate scale in compliant payments infrastructure. Sequence contributes embedded wallets and cross chain tooling that simplifies user interaction by abstracting gas fees, bridging, and swaps. Polygon leadership has framed the integration as a structural realignment, noting that overall headcount is expected to remain broadly similar after consolidation, but with greater emphasis on payments, compliance, and wallet engineering expertise.
Former Polygon employees have begun confirming departures publicly, describing mixed emotions around the layoffs while largely expressing confidence in the protocol’s long term direction. Some staff members have highlighted pride in the work completed during Polygon’s expansion phase, while others have started seeking new roles across ecosystem development, operations, and business strategy. The company has undertaken multiple restructurings in recent years, including workforce reductions and the spin off of internal units to reduce complexity and sharpen focus. Polygon maintains that its financial position remains stable, supported by protocol fee revenue exceeding $1.7 million since early January 2026. The move aligns with a wider industry trend as crypto firms recalibrate after aggressive growth cycles, with companies such as Mantra and Consensys also trimming teams to prioritize sustainability and core revenue generating activities.
