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The head of encryption business at Stripe has left to join Polygon Labs as Chief Product Officer.
According to ChainCatcher news, as reported by FORTUNE CRYPTO, John Egan, head of Stripe's encryption business, announced his departure and will join Polygon Labs as Chief Product Officer (CPO) on Tuesday. Egan has led several major encryption acquisitions and business initiatives at Stripe, including the $1.1 billion acquisition of the stablecoin startup Bridge (completed in February this year), the acquisition of the encryption wallet company Privy, and the collaboration with Paradigm to develop its own Blockchain, Tempo. He stated that the decision to join Polygon was due to its leading position in stablecoin micropayments. According to data from Artemis Analytics, in July of this year, there were 4.5 million active addresses on Polygon using stablecoin transactions, surpassing Ethereum's 2.9 million, bringing users closer to “daily payment” scenarios.