1Money, a NYC-based company developing a purpose-built Layer 1 designed for stablecoins payments, raised over $20M in funding.
The round saw participation from F-Prime Capital, Galaxy Ventures, Hack VC, Tribe Capital, Portage, Ethereal Ventures, CMT Digital, Kraken Ventures, KuCoin Ventures, BitGo Ventures, Bing Ventures, MoonPay Ventures, CoinFlip, Bankless Ventures, Perry Creek Capital, A100x Ventures, VARIV, Anagram, Generative Ventures, Lvna Capital, Ambush Capital, Borderless Capital, Pharsalus Capital, Protagonist, gumi Cryptos Capital, Hexa Capital, Karman Ventures, and R3D3 Ventures.
The company intends to use the funds to empower the launch of the 1Money Network, a new payment network.
Led by CEO Brian Shroder, 1Money is building a Layer 1 payments network exclusively for stablecoins, designed to deliver transactions globally. It aims to improve global finance by providing a stablecoin payment experience for users worldwide. It also ensures instant confirmations, industry-low fixed fees, world-class security, and native compliance features. Supporting multiple stablecoins across various fiat currencies, the platform eliminates the need for speculative assets or complex “tokenomics,” with network fees paid directly in the stablecoin being transacted.
1Money plans to launch in Q2 of this year.
FinSMEs
16/01/2025