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Crypto

Polygon CEO announces more layoffs as it seeks to finalise Coinme acquisition

Polygon Labs has announced additional layoffs as it works to finalise its acquisition of cryptocurrency exchange Coinme. Cointelegraph reported the move is part of a shift from a blockchain foundation to a blockchain-based payments company. CEO Marc Boiron said on X that the cuts reflect a restructuring tied to the transition, not the capabilities of departing staff. Polygon disclosed plans in January to acquire Coinme and wallet infrastructure platform Sequence in a $250 million deal.

Crypto

PayPal to issue PYUSD natively on Polygon to expand supply

PayPal is expanding cooperation with the Polygon network to increase adoption of its stablecoin, PYUSD. The Block reported that PayPal will issue PYUSD natively on Polygon and make it available through Polygon\'s Open Money Stack, aiming to help companies use PYUSD more easily for global payment settlement. Polygon Labs CEO Marc Boiron said the setup can enable firms to receive funds, move them across borders and cash out through a single compliance-enabled integration.

Crypto

Meta opts for stablecoin instead of own coin, pays creators in USDC

Meta has begun settling payments in the stablecoin USDC for some Facebook creators in Colombia and the Philippines. The pilot uses the Solana and Polygon networks to reduce cross-border payment delays and fees. A Meta spokesperson said the company is reviewing stablecoins as part of broader payment options. Meta does not convert USDC to cash, leaving creators to handle exchange and related fees. Meta is working with Stripe to support tax reporting.