Polygon Labs is laying off employees as it completes its acquisition of Coinme and transitions from operating as a blockchain foundation to a blockchain-enabled payments company, with a target of reaching profitability in 2027.

The Coinme team will be integrated into Polygon Labs as part of a broader merger and restructuring effort. The company says the layoffs reflect a shift in organizational structure and talent needs, not the performance of departing employees.

Polygon cites strong momentum behind the move, record stablecoin volume, a growing customer pipeline, and a fast-tracked launch of its on-chain payments solution.

The move marks a significant strategic shift for Polygon Labs, moving further from its foundation-era identity toward becoming a payments-focused business built around stablecoin infrastructure.