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Techub News reports, according to Fortune magazine, Polygon Labs has completed the acquisition of cryptocurrency startups Coinme and Sequence, with a total acquisition price exceeding $250 million. Polygon Labs did not disclose the individual transaction amounts, nor did it specify whether the payment method was cash, equity, or a hybrid form. Polygon Labs CEO Marc Boiron and Polygon Foundation founder Sandeep Nailwal stated that this acquisition aims to support the blockchain network's stablecoin strategy. Coinme holds a series of money transfer licenses in the United States, while Sequence is dedicated to building blockchain infrastructure, including cryptocurrency wallets.
Techub News reports that Marc Boiron, CEO of Polygon Labs, tweeted that during the acquisition and integration of Coinme and the Sequence team, the company decided to eliminate some overlapping positions. This adjustment aims to support the company's complete transformation into a payment-focused blockchain company. Marc Boiron emphasized that this position adjustment is a structural change rather than an issue with employee performance. Although the total number of employees is expected to remain at a similar level, the team's professional backgrounds will increasingly lean towards payments, wallets, and blockchain infrastructure.
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