Svmuu News: Marc Boiron, CEO of Polygon Labs, announced in a post that the company’s acquisition of the compliant payment service provider Coinme has entered its final stages. Upon completion of the transaction, the entire Coinme team will be integrated into Polygon Labs. This merger and integration is part of the company’s overall restructuring plan, with the core objective of driving the company toward profitability by 2027.
In conjunction with the business integration, Polygon Labs began staff reductions today. Marc Boiron explained that the company is transitioning from a blockchain foundation to a blockchain payments company, and there are significant differences in the organizational structures and talent needs required for these two types of businesses. These personnel adjustments are driven by the need for strategic transformation and are not related to employee performance.
Officials also revealed that the company’s revenue is currently trending positively, with stablecoin trading volumes continuing to set new records and the rollout of on-chain payment products accelerating; the company will provide severance pay and support packages to affected employees.