The previous CEO of Binance.US has formally launched a zero‑charge stablecoin orchestration platform beneath a brand new enterprise, 1Money. The brand new participant has entered the crypto-pegged asset house, meaning to slash the transaction prices that many customers have lengthy complained about.
This growth is a part of the agency’s plan to determine a layer-1 blockchain centered on funds. The venture is led by Brian Shroder, who beforehand served as CEO of Binance.US from 2021 till 2023. In January 2025, Shroder and its co-founders secured greater than $20 million in seed funding to develop the platform.
Based on a Thursday announcement, 1Money introduced that its eponymous platform will function “zero platform charges,” charging solely usage-based charges for stablecoin and fiat transactions. The corporate said that the service will function on 1Money’s upcoming layer-1 community for stablecoin funds, with no fuel charges. It is because it’s designed to impose charges relying on transaction utilization with stablecoins and fiat forex, based on the corporate’s assertion.
To additional illustrate its dedication to supporting the event of the crypto business, 1Money hinted that it’s going to proceed to embrace this transfer on its layer-1 community for stablecoin funds. Based on this venture, there shall be no fuel charges.
1Money seeks to place an finish to extreme charges within the crypto Business
Following 1Money’s vital transfer, Brian Shroder, the co-founder and CEO of 1Money, said that, “For much too lengthy, conventional stablecoin service suppliers have held again the ecosystem with extraordinarily excessive month-to-month minimums and extreme charges. 1Money is placing an finish to that.”
As a former CEO of Binance.US, Shroder acknowledged that the crypto platform differs from the worldwide cryptocurrency change. He famous that he started enjoying his function on the crypto-pegged assets-focused agency 1Money in 2024, following his departure from Binance.US in September 2023. By January 2025, the corporate introduced $20 million in seed funding.
This announcement was launched three months after 1Money publicly said that it had efficiently acquired 34 cash transmitter licenses, permitting it to function all through the US.
To stay aggressive within the business, the orchestration platform seeks to broaden its providers. Presently, it goals to broaden its attain by offering “regulated custody” providers for stablecoins and infrastructure.
This determination demonstrates a rising pattern amongst fintech firms. Based on sources, a number of fintech corporations have made it clear that they intend to discover the stablecoin market. This comes at a time when each the US and the European Union are progressing with crypto-friendly rules. An instance of those corporations is funds supplier Unlimit, which launched an announcement on Tuesday, December 2, revealing a brand new non-custodial platform particularly designed for stablecoins.
Furthermore, studies indicated that two main cost corporations, Visa and Mastercard, started backing stablecoins in October and November, respectively.
In August, Ripple Labs introduced plans to supply stablecoins cost providers after buying Rail for $200 million. In 2024, the Fintech firm launched its personal stablecoin generally known as RLUSD.
IMF releases a suggestion to ease stress amongst crypto traders
As stablecoins turn into more and more in style amongst people, issues in regards to the dangers related to cryptocurrencies are elevating stress within the ecosystem. This case prompted the Worldwide Financial Fund (IMF) to take the required motion to ease this stress.
In an in depth report, the company outlined how the increasing crypto-pegged asset market can influence the financial system. It additionally offered ideas on whether or not the present international guidelines are enough to deal with the dangers related to cryptocurrencies.
The title of this report was “Understanding Stablecoins.” Throughout its launch this week, the IMF elaborated on how numerous areas, together with the USA, the UK, Japan, and the European Union, have established rules for stablecoins.
It additionally indicated that new guidelines are helpful in reducing dangers to general monetary stability. Nonetheless, following the present circumstances, analysts expressed that the state of affairs is “fragmented.” Because of this policymakers are making use of totally different approaches, and there are numerous methods to difficulty a crypto-pegged asset.
“The rise of latest stablecoins throughout a number of blockchains and exchanges creates worries about inefficiencies as a result of they might not work effectively collectively,” stated the IMF. “Moreover, this could result in variations and challenges amongst international locations due to various rules and transaction obstacles.”
