1Money, co-founded by Brian Shroder, the former CEO of Binance US, has unveiled an innovative stablecoin orchestration platform that promises to revolutionize transaction costs in the crypto space. The source notes that this development could significantly enhance the efficiency of digital asset transactions.
New Platform Launches with No Platform Fees
The newly launched platform distinguishes itself by eliminating platform fees, opting instead for usage-based fees on transactions involving stablecoins and fiat currencies. This strategic shift is designed to make stablecoin transactions more accessible and cost-effective for users.
Development of Layer 1 Blockchain for Stablecoin Payments
In addition to the fee structure, 1Money is working on developing a Layer 1 blockchain specifically tailored for stablecoin payments, which will also feature zero gas fees. Shroder highlighted that this initiative is a direct response to the high fees traditionally charged by legacy stablecoin service providers, aiming to create a more user-friendly environment in the digital currency landscape.
The recent launch of 1Money's stablecoin platform comes at a time when the European Union's Markets in Crypto-Assets (MiCA) regulation has officially taken effect, imposing strict rules on stablecoin issuers. For more details, see MiCA regulation.
