Polygon to Acquire Coinme, Implementing Workforce Reductions Amid Organizational Restructuring

Background of the Transformation into a Payment Company and Workforce Reductions Following Polygon's Acquisition of Coinme

Marc Boiron, CEO of Polygon Labs, announced the implementation of new workforce reductions in conjunction with the completion of the acquisition of the cryptocurrency exchange Coinme.

We are entering the final stages of completing the acquisition of Coinme and will integrate its team into Polygon Labs. This move is part of a broader merger strategy aimed at expanding the organization to achieve profitability by 2027. This process...

This move is based on the agreement announced by the company in January 2026 to acquire Coinme and the wallet infrastructure platform Sequence for a total of over $250 million (approximately ¥40.58 billion).

Boiron explained that the current workforce reductions are not due to employee performance but are part of an organizational restructuring to fundamentally shift the business model from a "blockchain-based service organization" to a "payment company utilizing blockchain." Since the required organizational structure and talent differ between the two, this strategic choice aims to optimize costs and concentrate resources on a profitable payment business to meet the profitability target for 2027.

The biggest barrier to the widespread adoption of cryptocurrency payments is compliance with regulations and the procedures for cashing out to fiat currency.

It is not enough for blockchain to have fast processing speeds; user authentication (KYC), fraud prevention, and reliable withdrawal methods are essential.

By integrating Coinme, which holds the necessary remittance operator license for handling fiat currency in the United States, Polygon will gain a smooth on-ramp (conversion from fiat to cryptocurrency) and off-ramp (the reverse flow) environment connecting bank accounts, cash, and on-chain stablecoins.

The Polygon network is already active in the use of stablecoins, with a supply of approximately $3.37 billion (about ¥547 billion) and a record monthly trading volume of $9.12 billion (approximately ¥1.48 trillion), providing a solid foundation for business expansion. However, as the company simultaneously enters the highly regulated financial sector and implements workforce reductions, it may take several quarters to integrate systems and teams, testing its execution capabilities.

Businesses developing applications on Polygon and holders of the token (POL, formerly MATIC) are urged to avoid being misled by hype and to act based on realistic data.

Ensuring Multi-Rail (Maintaining Redundancy): Delays and operational friction are expected during the integration of Coinme's systems. It is crucial to secure alternative payment routes without relying on a single provider. Visualizing Cost Structure: It is necessary to accurately measure total costs, including fees for deposits and withdrawals in fiat currency, spreads, and gas fees, to verify whether an attractive UX can be provided to users. Monitoring Product Roadmap: It is essential to track whether tools directly related to payment practices, such as payment SDKs, APIs for merchants, and dispute resolution flows, are being regularly released, not just changes in organizational operations. Reviewing Financial Assumptions: Startups and DAOs operating within Polygon's ecosystem should flexibly update their budgets for 12 to 18 months, considering fluctuations in infrastructure costs due to the current workforce reductions and delays in integration.

The true value of the structural reforms will be demonstrated by improvements in service levels and the sustained expansion of stablecoin usage in the future.

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