Polygon Labs appoints former Stripe crypto chief as chief product officer

According to Odaily Planet Daily, John Egan, former head of crypto at Stripe, has joined Polygon Labs as Chief Product Officer, focusing on improving the payment experience within the Polygon ecosystem. Egan previously led Stripe's acquisitions of stablecoin company Bridge (for $1.1 billion) and crypto wallet company Privy, and also drove the development of its own blockchain, Tempo. Polygon's stablecoin circulation reached $2.9 billion in July, with over 4.5 million active addresses, surpassing Ethereum in the same period. Egan expressed optimism about Polygon's application in stablecoin micropayments. (Fortune)