Polygon Labs integrates previously acquired teams and eliminates some overlapping positions to accelerate its transition to the payments sector.

Foresight News reported that Polygon Labs CEO Marc Boiron tweeted that during the acquisition and integration of the Coinme and Sequence teams, the company decided to eliminate some overlapping positions. This adjustment aims to support the company’s complete transformation into a blockchain company focused on payments. Marc Boiron emphasized that this job adjustment is a structural change rather than an issue of employee performance. Although the total number of employees is expected to remain at a similar level, the team's professional background will shift more towards payments, wallets, and blockchain infrastructure.

Previously, on December 13, Polygon Labs acquired cryptocurrency payment infrastructure Coinme and blockchain development platform Sequence for $250 million.