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Polygon Labs announces additional layoffs tied to Coinme deal close

The CEO said the cuts are the company’s second round in 2026 and are part of integrating Coinme as Polygon pushes toward profitability in 2027.

Reported · Written up by our desk · Market Structure

Polygon Labs has announced another round of layoffs as it completes its transformation from a blockchain foundation into a blockchain-enabled payments company, according to The Defiant.

CEO Marc Boiron said the company is in the final stages of completing its Coinme acquisition, with plans to integrate the Coinme team into Polygon Labs. He added that the broader merger effort is aimed at positioning the company to be profitable in 2027.

The article says this is Polygon Labs’ second round of layoffs in 2026, following cuts of about 60 employees in January that were reportedly linked to the Coinme and Sequence acquisition plans. The company is offering severance and support, and some employees have been asked to stay temporarily during the transition.

In January, Polygon Labs agreed to spend about $250 million to acquire Coinme, a crypto exchange founded in 2014, and Sequence, a wallet infrastructure firm. The deal is described as a core part of Polygon’s “Open Money Stack” payments infrastructure platform.

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