1Money, co-founded by the former Binance.US CEO, launched a stablecoin orchestration platform with zero platform fees, aiming to build a layer-1 blockchain for payments. The platform offers usage-based fees for stablecoin and fiat transactions, eliminating high monthly minimums and bloated fees in the ecosystem.

Brian Shroder, CEO of 1Money and former Binance.US CEO, secured $20 million in seed funding for the stablecoin-focused platform. 1Money recently obtained 34 money transmitter licenses in the US, offering regulated custody for stablecoins and infrastructure services.

Stablecoin adoption is on the rise, with many fintech companies entering the sector amid advancing regulations in the US and EU. Unlimit launched a non-custodial stablecoin platform, while Visa and Mastercard added support for stablecoins. Ripple Labs acquired Rail for $200 million to offer stablecoin payment services.

Read more at Cointelegraph: Ex-Binance.US CEO Launches Stablecoin Platform Ahead of L1 Network