Polygon Deepens Payments Push With New Workforce Cuts

Polygon Labs is cutting jobs as it pivots toward stablecoin payments and financial infrastructure, marking a strategic shift that comes weeks after shutting down its zkEVM Mainnet Beta.

Summary:

The company is restructuring to support a payments-focused business model.
Recent acquisitions are being integrated into a unified financial infrastructure platform.
Polygon says enterprise demand and stablecoin activity are driving the transition.
Users can recover eligible assets following the zkEVM network shutdown.

Polygon Shifts From Infrastructure to Payments

Polygon Labs announced another round of layoffs on July 16, with Chief Executive Marc Boiron describing the move as part of a broader effort to reposition the company from a blockchain infrastructure provider into a blockchain-enabled payments business.

We are in the final stages of completing the Coinme acquisition, which will involve integrating that team into Polygon Labs, a move that will grow our organization as part of a broader merger exercise to position Polygon Labs to be profitable in 2027. As part of that process,…

— Marc | Polygon Labs (💜,⚔️, ※) (@0xMarcB) July 16, 2026

The latest reductions are the fourth since early 2023. Boiron said the decision reflects changes in the company’s operating model rather than employee performance, as Polygon adapts its workforce to support commercial payment products.

The restructuring follows the company’s planned $250 million acquisition of Coinme, a regulated fiat-to-crypto payments provider, and Sequence, a wallet infrastructure developer. Polygon is integrating both businesses as it streamlines operations and targets profitability by 2027.

Those assets will form the foundation of the Polygon Open Money Stack, a platform combining wallet infrastructure, fiat connectivity and stablecoin payment services into a single offering for businesses and developers.

Stablecoins Become the Growth Engine

The restructuring reflects a broader change in Polygon’s commercial priorities.

Management said demand from enterprise customers continues to accelerate, supported by record $9.12 billion in stablecoin transaction volume during June 2026.

Rather than competing primarily on blockchain scalability, Polygon is increasingly focusing on financial infrastructure that enables businesses to move value using stablecoins.

The strategy aligns with a wider industry shift as blockchain companies seek sustainable revenue from payment services, tokenized assets and enterprise financial applications instead of relying predominantly on developer activity or decentralized finance.

zkEVM Users Given Extended Recovery Window

The strategic pivot comes shortly after Polygon completed the shutdown of its zkEVM Mainnet Beta, which stopped producing blocks on July 3.

A claims portal opened on July 13, allowing users holding eligible assets in self-custodied wallets to recover funds directly on Ethereum.

The recovery process does not apply to assets locked in smart contracts, including decentralized finance applications and third-party bridges. Those users must work with the respective protocol operators to regain access to their funds.

Polygon said the claims interface will remain available until Dec. 31, 2027, providing an extended recovery period for eligible users.

A New Chapter for Polygon

Polygon’s latest restructuring signals that its future strategy extends beyond operating blockchain networks.
By combining regulated payment services, wallet technology and stablecoin infrastructure, the company is positioning itself to compete in the growing market for blockchain-based financial services.

The transition also reflects a broader evolution across the industry, where infrastructure providers are increasingly focusing on commercial applications capable of generating recurring revenue as digital asset adoption expands among businesses and financial institutions.

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Author

Alexander Zdravkov

Reporter at CoinsPress

Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.