John Egan, head of encryption at Stripe, announced his departure and will join Polygon Labs as Chief Product Officer

ChainCatcher news, according to FORTUNE CRYPTO, Stripe's head of crypto business John Egan announced his departure and will join Polygon Labs as Chief Product Officer (CPO) on Tuesday.

Egan has led several significant crypto acquisitions and initiatives at Stripe, including the $1.1 billion acquisition of the stablecoin startup Bridge (completed in February this year), the acquisition of the crypto wallet company Privy, and the collaboration with Paradigm to develop its own blockchain, Tempo.

He stated that he chose to join Polygon because he is optimistic about its leading position in stablecoin micropayments. According to data from Artemis Analytics, in July this year, there were 4.5 million active addresses on Polygon using stablecoins for transactions, surpassing Ethereum's 2.9 million, bringing users closer to "daily payment" scenarios.