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In a significant development for the cryptocurrency payments sector, 1Money, a Layer-1 stablecoin payments network, has successfully raised over $20 million in seed funding, marking a potential breakthrough in digital financial infrastructure.

The seed round, announced on January 16, attracted an impressive consortium of venture capital firms, including industry heavyweights such as F-Prime Capital, Galaxy Ventures, Hack VC, and Kraken Ventures. This diverse group of investors signals strong confidence in 1Money’s innovative approach to stablecoin payments.

At the helm of this promising venture is Brian Shroder, former president and CEO of Binance.US, who has transitioned to become the co-founder and CEO of 1Money. Shroder views stablecoins as the cornerstone of a modernized global financial system, positioning the company to bridge the gap between Web3 technology and mainstream financial users.

1Money’s proprietary protocol is distinguished by its patent-pending Byzantine consistent broadcast design, specifically engineered for stablecoin payments. The network aims to deliver instant transactions with fixed costs and comprehensive multi-currency support, allowing users to pay transaction fees directly in their chosen stablecoin without managing additional gas tokens.

The timing of 1Money’s launch is particularly strategic, given the current stablecoin market dynamics. According to CoinGecko, the stablecoin market is currently valued at $214 billion, with Tether (USDT) and USD Coin (USDC) dominating over 85% of the total market value. Experts like Guy Young from Ethena predict the market could easily exceed $300 billion in the ongoing crypto bull market.

The emergence of 1Money comes at a pivotal moment when major financial institutions are increasingly exploring stablecoin integration. Visa’s head of crypto, Cuy Sheffield, has even suggested that 2025 could introduce a new era of stablecoin-linked payment cards, further validating the potential of platforms like 1Money.

With competition from fintech giants like PayPal, Revolut, and Robinhood entering the stablecoin space, 1Money’s innovative approach and substantial funding position it as a potential disruptor in the digital payments landscape. The company’s focus on creating a seamless, efficient stablecoin payment network could represent a significant step towards mainstream cryptocurrency adoption.

As the cryptocurrency ecosystem continues to evolve, 1Money’s ambitious project represents more than just a new payment platform—it symbolizes the ongoing transformation of global financial infrastructure through blockchain technology. The successful seed funding round is a testament to the growing investor confidence in innovative blockchain payment solutions.

作者 BTC Miner

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