Ex-Binance.US CEO Launches Stablecoin Platform Ahead of L1 Network

1Money, an organization co-founded by the previous CEO of Binance.US, has launched a stablecoin orchestration platform forward of its plans to construct a layer-1 blockchain for funds.

In a Thursday announcement, 1Money said the platform by the identical title could have “zero platform charges,” opting as an alternative for usage-based charges for transactions involving stablecoins and fiat. In response to the corporate, the initiative will proceed on 1Money’s layer-1 community for stablecoin funds, providing no fuel charges.

“For too lengthy, legacy stablecoin service suppliers have held the ecosystem again with outrageously excessive month-to-month minimums and bloated charges, 1Money is ending that period,” mentioned Brian Shroder, 1Money co-founder and CEO and former CEO of Binance.US.

Shroder was the CEO of Binance.US, a separate authorized entity from the worldwide cryptocurrency alternate, from 2021 to 2023. He launched the stablecoin-focused platform 1Money in 2024, announcing $20 million in seed funding in January 2025.

Associated: IMF lays out guidelines for addressing stablecoin risks, beyond regulations

The announcement took place three months after 1Money reported securing 34 money transmitter licenses within the US. Amongst its providers, the orchestration platform will present “regulated custody” for stablecoins and infrastructure.

Stablecoin adoption is accelerating

Shroder’s announcement adopted many fintech firms saying plans within the stablecoin sector as rules advance within the US and European Union.

On Tuesday, funds supplier Unlimit announced the launch of a non-custodial platform for stablecoins. Visa and Mastercard, two of the largest funds firms for fiat currencies, rolled out support for stablecoins in October and November, respectively.

Ripple Labs said in August that it might provide stablecoin cost providers by way of its acquisition of Rail for $200 million. The corporate launched its personal RLUSD stablecoin in 2024.

Journal: When privacy and AML laws conflict: Crypto projects’ impossible choice