Polygon Labs has announced a second round of staff reductions in 2026 as the company restructures around a blockchain-enabled payments strategy. The layoffs accompany the finalization of the Coinme acquisition, which will provide Polygon with a network of cryptocurrency ATM locations.
CEO Marc Boiron said the reductions are part of a strategic shift from operating as a blockchain foundation to becoming a blockchain-enabled payments company. The company is aiming to achieve profitability by 2027 through a combination of cost reductions and new revenue streams from payment services.
The Coinme acquisition gives Polygon access to thousands of physical cryptocurrency kiosks across the United States, providing a retail onramp for users to buy and sell digital assets. The integration of Coinme infrastructure is expected to be completed in the coming months.
The restructuring reflects the broader challenges facing blockchain infrastructure companies that have struggled to generate sustainable revenue from protocol development alone. Polygon has been one of the most prominent Ethereum scaling platforms, but like many in the space, has faced pressure to demonstrate a clear path to profitability.
The pivot to payments represents a significant departure from Polygon original mission as an Ethereum scaling solution. The company has been expanding its focus to include consumer-facing applications and real-world use cases that can generate more predictable revenue streams.
Affected employees have been offered severance packages and support in finding new roles. The company has not disclosed the exact number of positions eliminated in this round.
This article was adapted from The Defiant. Read the original here.
