Polygon Labs CEO announces layoffs amid Coinme acquisition

Polygon Labs cut roughly 60 jobs as the company pushes forward with its acquisition of Coinme, a regulated fiat-to-crypto payments firm. The layoffs, which CEO Marc Boiron framed as integration-driven, mark Polygon’s third major workforce reduction in three years.

The pivot to payments

Polygon Labs announced on January 13, 2026, that it would acquire two companies, Coinme and Sequence, in deals totaling more than $250 million. The acquisitions are the clearest signal yet that Polygon is betting its future on regulated stablecoin payments rather than simply being another Layer 2 scaling solution.

Coinme, founded in 2014, started life in the Bitcoin ATM business. The company built regulatory licenses across 48 states and a presence in over 50,000 locations.

Sequence, the other half of this double acquisition, specializes in wallet and developer infrastructure. That deal was expected to close in January 2026, while the Coinme acquisition is slated for Q2 2026. Coinme will continue operating as a subsidiary of Polygon Labs once the deal is finalized.

Together, the two acquisitions form what Polygon is calling the “Polygon Open Money Stack,” an integrated system designed to handle everything from fiat on-ramps to stablecoin payments within a regulated framework.

The layoffs, explained

Three days after announcing the acquisitions, Polygon Labs let go of approximately 60 employees on January 16, 2026. Reports initially suggested the cuts could represent around 30% of the workforce.

Boiron’s explanation was straightforward. The layoffs were about keeping headcount flat while integrating new staff from the acquired companies. Overlapping roles needed to be consolidated. Company officials pushed back on the narrative that the cuts signaled financial distress, emphasizing the restructuring was purely an integration play.

The numbers backing the bet

By the end of 2025, the Polygon network had processed approximately $2.2 trillion in transaction value and supported about $3.3 billion in stablecoin supply.

Polygon Foundation founder Sandeep Nailwal and CEO Boiron have both emphasized the strategic importance of building regulated stablecoin payments infrastructure. Coinme’s licensing gives Polygon a legal pathway to operate across 48 US states and over 50,000 physical locations.

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