“CUT THE TEAM, CHASE THE DREAM.”
How Will Polygon’s “Open Money Stack” Strategy Impact the Digital Assets Market? Polygon, the main Layer-2 blockchain network, is purportedly laying off roughly 30% of its workers as part of a major restructure, according to industry sources and social media reports.
The action comes after Polygon recently paid $250 million to acquire Sequence, a wallet and cross-chain payments platform, and Coinme, a US-regulated fiat-to-crypto on-ramp.
The layoffs are related to post-acquisition integration, the company confirmed. “Every affected employee is having a live, direct conversation with their manager,” said Kurt Patat, Head of Communications at Polygon.
The total headcount is anticipated to stay about equal with the inclusion of the Coinme and Sequence teams.
Polygon has done large-scale reductions before. During a prior reorganisation in 2024, the corporation cut its staff by around 20%.
Polygon is moving away from a pure scaling and DeFi focus and towards a payments-first strategy, which is reflected in the current 30% cut.
The core of Polygon’s new approach is its “Open Money Stack,” which combines Sequence and Coinme to offer a stablecoin-based, regulated payments system.
The business keeps improving its network; the most recent Madhugiri update boosts transaction speed and gets the chain ready for larger volumes.
Polygon’s native POL coin has done well with internal changes, indicating market optimism about the company’s current course.
According to industry analysts, although layoffs are difficult, the reorganisation puts Polygon in a position to increase its market share in stablecoins and regulated payments, which is in line with more general developments in the blockchain ecosystem.
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