1Money Raises $20M in Seed Funding to Launch Stablecoin Payment Network

1Money, a new startup focused on revolutionizing stablecoin payments, has emerged from stealth mode with the announcement of securing over $20 million in seed funding. The company aims to utilize this capital to launch the 1Money Network in the second quarter of 2025, designed to be a Layer 1 protocol that supports fast, secure, and cost-effective stablecoin transactions.

The 1Money Network promises to bridge the gap between current Web3 technologies and mainstream adoption. Co-founder and CEO Brian Shroder, formerly the president and CEO of Binance.US, emphasized that the platform would make stablecoin payments more accessible for everyday use cases, from peer-to-peer transfers to eCommerce and remittances. “Stablecoins are poised to be the foundation for a new, modernized global financial system,” said Shroder.

The network will address significant challenges in the current payment landscape, including delays, unpredictable surge pricing fees, security vulnerabilities, and compliance issues. By offering industry-low transaction fees, enabling multi-currency stablecoin transactions, and ensuring instant settlement in under a second, 1Money aims to meet the growing demand for stablecoin solutions globally.

In addition, the network’s built-in compliance mechanisms and capacity to handle over 250,000 transactions per second make it well-positioned for scalability. “The company’s purpose-built solution delivers what businesses and users actually need: instant settlement, low and predictable fees, robust security, and seamless compliance,” said Ed Roman, co-founder of Hack VC, a participant in the funding round.

The timing of 1Money’s launch aligns with the growing adoption of stablecoins in mainstream finance. Payments expert Chris Colson of the Federal Reserve Bank of Atlanta noted that stablecoins are becoming a universal payment method, already finding their way into sectors like food delivery and retail.

With backing from top investors and a forward-looking approach, 1Money is set to play a pivotal role in the evolution of stablecoin payments in the global financial system.