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84 Polygon Labs in Talks to Raise Up to $100 Million for Payments Business

The Information
Yueqi Yang @ The Information 2 place · today 09:00 EDT

Polygon Labs in Talks to Raise Up to $100 Million for Payments Business

Polygon Labs, developer of the blockchain that underpins prediction market Polymarket and other crypto platforms, is in early talks with investors to raise as much as $100 million to build a new stablecoin payments business, according to people familiar with the talks.

The funding discussions come amid a nasty downturn in crypto. The new venture would be a way for Polygon to diversify out of a market that has stalled.

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