Polygon Labs Nears Completion of Coinme Acquisition, Simultaneously Initiates Layoffs

Odaily Planet Daily News: Polygon Labs CEO Marc Boiron stated in a post that the company's acquisition of compliance payment service provider Coinme has entered its final stage. Upon completion of the transaction, the Coinme team will be fully integrated into Polygon Labs. This acquisition and integration is part of the company's overall restructuring plan, with the core goal of driving the enterprise towards profitability by 2027.

Alongside the business integration, Polygon Labs is conducting a workforce reduction today. Marc Boiron explained that the company is transitioning from a blockchain foundation to a blockchain payment enterprise. The organizational structure and talent requirements for these two types of businesses are significantly different. This workforce adjustment is driven by strategic transformation needs and is not due to employee performance issues.

The official also revealed that the company's current revenue situation is improving, with stablecoin transaction volumes continuously setting new records and the rollout of on-chain payment products accelerating. The enterprise will provide severance compensation and supporting assistance to affected employees.