Emerging from stealth with over $20 million in funding, 1Money aims to redefine the digital payments ecosystem with the world's first Layer 1 blockchain protocol exclusively designed for stablecoins.
This next-generation platform promises unprecedented speed, affordability, and compliance, setting a new benchmark for stablecoin transactions globally.
With backing from a roster of top-tier investors, including F-Prime Capital, Galaxy Ventures, and Hack VC, the company's vision is clear: to build a cutting-edge payment infrastructure that caters to the practical needs of businesses and individuals while addressing the limitations of existing blockchain networks.
Related post:
Causeartist
The Unveiling of the 1Money Network
1Money’s network has been engineered to solve persistent challenges in stablecoin payments. While many blockchain platforms attempt to serve multiple use cases, 1Money focuses solely on delivering the best possible stablecoin payment experience.
This focus has allowed the team to create innovations like its Byzantine Consistent Broadcast (BCB) protocol, designed to eliminate issues such as transaction delays, volatile fees, and compliance hurdles.
“Stablecoins are not just a trend; they are the cornerstone of a modernized global financial system,” said Brian Shroder, Co-Founder and CEO of 1Money. “Our network bridges the gap between Web3 technology and everyday financial transactions.”
Key Features of the 1Money Network
1. Instant Transaction Confirmation
The platform allows users to send and receive stablecoins in under a second, making transactions as fast as sending a text message.
2. Low, Fixed Fees
Gone are the days of unpredictable surge pricing. The 1Money Network offers industry-low transaction fees, with plans to introduce gasless transactions through its ecosystem partners.
3. Multicurrency Support
The platform supports multiple stablecoins tied to various fiat currencies, creating a truly global payment network.
4. Embedded Compliance Mechanisms
1Money incorporates native compliance features to automate sanctions controls, offering robust protection against regulatory risks.
5. Massive Scalability
With the ability to process over 250,000 transactions per second, the platform is designed to meet global demand effortlessly.
6. User-Friendly Payment Model
Unlike traditional blockchain networks requiring separate "gas" tokens for transaction fees, 1Money charges fees directly in the stablecoin being used, eliminating unnecessary complexity for users.
Global Impacts of the 1Money Network
The launch of the 1Money Network extends beyond the financial world, promising widespread benefits across various sectors:
1. Financial Inclusion
By reducing costs and complexities, the platform enables broader access to digital payments, particularly in underserved regions where traditional banking systems are limited.
2. Cross-Border Transactions
1Money’s fast and low-cost transfers simplify remittances, which are crucial for many families relying on funds from overseas.
3. Sustainability
With energy-efficient transaction processing, the network aligns with growing calls for greener blockchain solutions.
4. Compliance Leadership
The network's built-in compliance sets a precedent for regulatory alignment in blockchain, fostering trust among users, enterprises, and governments.
5. Economic Efficiency
The fixed-fee structure reduces transaction overheads for businesses, fostering economic growth and encouraging innovation in digital commerce.
The Path Ahead
1Money's approach is bold yet straightforward: to make stablecoin payments simple, secure, and accessible for everyone. By focusing exclusively on stablecoin transactions, the company eliminates the complexities of "tokenomics," staking, and governance layers commonly found in other blockchain ecosystems.
Steph Choo of Portage emphasized this user-first approach: “1Money’s intuitive design – free of confusing fees or speculative assets – is what will drive its adoption among enterprises and individuals alike.”
Conclusion
1Money’s emergence signals an evolution in global finance. By addressing long-standing pain points in stablecoin payments, the company is paving the way for mainstream adoption of digital currencies.
“Stablecoins are transforming global money flows, and 1Money is prepared to lead this transformation with its revolutionary technology,” said Brian Shroder.
