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🟣 Polygon Labs changes strategy and focuses on blockchain payments.
Polygon Labs announced a round of layoffs as part of a deep reorganization of the company. Its CEO, Marc Boiron, said these departures are linked to a strategic shift rather than employee performance.
The company wants to move from a foundation focused on blockchain infrastructure to a blockchain payments specialist, with the goal of reaching profitability by 2027.
At the same time, Polygon Labs said it is in the final stage of acquiring Coinme, whose teams are expected to be integrated into the company. Employees affected by the layoffs will receive severance pay as well as support to find new employment.