1Money Secures $20M to Develop Stablecoin Payment Infrastructure

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by Giorgi Kostiuk

2 years ago

1Money's payment network garners significant investment to enhance its infrastructure focused on stablecoin support.

VC Funds Backing

On January 16, 2025, it was announced that the 1Money network raised over $20 million in seed funding from more than two dozen venture capital firms, such as F-Prime Capital, Galaxy Ventures, Hack VC, Tribe Capital, Kraken Ventures, KuCoin Ventures, BitGo Ventures, Bankless Ventures, MoonPay Ventures, Portage, and Ethereal Ventures.

1Money's Technological Foundation

1Money focuses on developing a protocol for stablecoin payments utilizing a patent-pending Byzantine broadcast design. The company's CEO, Brian Shroder, considers stablecoins as the "foundation for a new, modernized global financial system," bridging Web3 technologies with mainstream users.

Stablecoin Market Growth

According to CoinGecko, the stablecoin market is now worth $214 billion, with Tether's USDT and USDC accounting for the majority. As interest grows among large financial firms like PayPal, Revolut, and Robinhood, the sector could exceed $300 billion in 2025.

With major venture firms involved and expansion prospects, 1Money solidifies its position in the rapidly-evolving stablecoin payment sector.

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