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Polygon Labs has begun another round of job cuts as it prepares to complete its acquisition of U.S. crypto payments company Coinme.
CEO Marc Boiron said the restructuring will align the company with its push deeper into regulated payments infrastructure. Polygon did not disclose how many employees are affected, but said the Coinme integration will increase its total workforce.
Coinme Integration Reshapes Polygon Staffing
Boiron said Polygon is in the final stages of completing the transaction and will bring Coinme’s team into Polygon Labs. He described the layoffs as part of a wider reorganization intended to position the combined company for profitability in 2027.
The cuts were based on Polygon’s future operating needs rather than employee performance, Boiron said. The company is providing severance and transition support, while some departing employees have been asked to stay temporarily as the restructuring continues.
Second 2026 Cut Follows January Layoffs
The latest reduction is Polygon’s second of 2026. About 60 employees were cut in January after the company announced its Coinme and Sequence acquisitions, with Polygon citing overlapping roles as it prepared to integrate the businesses.
The new round shows Polygon is still adjusting its staffing structure as the Coinme transaction approaches completion.
$250M Deal Plan Adds Coinme and Sequence
Polygon signed definitive agreements in January to acquire Coinme and wallet infrastructure provider Sequence for more than $250 million combined. Sequence was acquired during the first quarter, while Coinme remained subject to regulatory approval.
Coinme operates regulated fiat-to-crypto infrastructure across 48 U.S. states and connects customers to digital assets through bank transfers, cards and more than 50,000 retail locations. It has processed more than $1 billion in transactions for over one million users.
Open Money Stack Points to $100M Revenue Path
Sequence provides enterprise wallets and cross-chain routing technology. Polygon plans to combine those services with Coinme’s licensed onramps and its own blockchain settlement network.
The combined infrastructure forms Polygon’s Open Money Stack, a planned platform for stablecoin payments, wallets, compliance, fiat conversion and cross-chain execution through one integration.
Polygon said Coinme and Sequence create a path to more than $100 million in annual revenue and reduce Polygon Labs’ reliance on grants from the Polygon Foundation.
Closing Date and Job-Cut Size Remain Undisclosed
Polygon initially plans to focus on business payments before expanding into consumer services. The Coinme transaction must close before the remaining team integration is completed.
The next unresolved details are the Coinme closing date and the number of roles removed in the latest restructuring.
