Former Binance.US CEO launches stablecoin platform ahead of L1 network

After securing $20 million in seed funding for the project in January, Brian Shroder announced a step toward 1Money’s planned stablecoin network.

1Money, a company co-founded by the former CEO of Binance.US, has launched a stablecoin orchestration platform ahead of its plans to build a layer-1 blockchain for payments.

In a Thursday announcement, 1Money said the platform by the same name will have “zero platform fees,” opting instead for usage-based fees for transactions involving stablecoins and fiat. According to the company, the initiative will continue on 1Money’s layer-1 network for stablecoin payments, offering no gas fees.

“For too long, legacy stablecoin service providers have held the ecosystem back with outrageously high monthly minimums and bloated fees, 1Money is ending that era,” said Brian Shroder, 1Money co-founder and CEO and former CEO of Binance.US.

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