Brian Shroder Aims for Innovation with 1Money’s $20 Million Funding for New Stablecoin Network
The post Brian Shroder Aims for Innovation with 1Money’s $20 Million Funding for New Stablecoin Network appeared on BitcoinEthereumNews.com.
In a significant move for the crypto landscape, former Binance.US CEO Brian Shroder has launched a new venture, 1Money, with $20 million in funding. This capital infusion, led by Tribe Capital and Galaxy Ventures, is set to support the development of a stablecoin network, aiming to address prevalent payment issues. Shroder emphasized the importance of this new project, stating, “It’s exciting to look for new solutions to existing payment problems,” highlighting his innovative vision in the crypto space. Brian Shroder’s new company, 1Money, secured $20 million to develop a unique stablecoin network designed for fast payments, marking a significant crypto industry event. 1Money’s Unique Vision for the Future of Stablecoin Payments 1Money’s ambitious goal is to create a layer-1 protocol expressly tailored for rapid stablecoin transactions. Unlike traditional models, this network will not launch a native cryptocurrency, highlighting an innovative approach to solving payment challenges in the decentralized finance (DeFi) space. By prioritizing transaction speed and efficiency, 1Money seeks to establish itself as a vital player in an increasingly saturated market. A Fresh Start Amidst Industry Turmoil Shroder’s journey to this new venture comes after a tumultuous period at Binance.US, where he navigated significant legal challenges, including a high-profile confrontation with the U.S. Securities and Exchange Commission. Post his departure in September 2023, Shroder maintained a low profile for over a year, making his return to the crypto sphere with 1Money noteworthy. Analysts suggest this transition indicates a shift in focus for seasoned executives towards creating more resilient and responsive financial infrastructures within the crypto realm. Funding Sources and Strategic Partnerships The backing from eminent firms such as Tribe Capital and Galaxy Ventures not only provides the necessary financial support but also strategic insight from top players in the industry. These partnerships could facilitate the deployment of technology and marketing…
Filed under: News - @ January 16, 2025 10:23 pm