1Money raises $20M for stablecoin payments network
Led by former Binance.US CEO Brian Shroder, 1Money aims to revolutionise global payments with its innovative Byzantine consistent broadcast design, offering instant transactions and multi-stablecoin support.
Layer-1 stablecoin payments network 1Money has secured over $20 million in seed funding to advance its digital payments platform. The funding round saw participation from major investors, including Galaxy Ventures, Kraken Ventures, and Tribe Capital, highlighting growing confidence in stablecoins as a transformative financial tool.
Led by former Binance.US CEO Brian Shroder, 1Money aims to modernise global payments with its patent-pending Byzantine consistent broadcast design. The network promises instant transactions, fixed costs, and support for multiple stablecoins, removing the need for users to manage gas tokens and simplifying the payment process.
Stablecoins are gaining momentum as a cornerstone of the blockchain industry, with the market currently valued at $214 billion. Industry experts predict this figure could surpass $300 billion as adoption rises. Companies like Visa and fintech platforms are eyeing stablecoins to revolutionise payment systems, further cementing their role in the future of finance.