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1MoneyNetwork has officially launched as a stablecoin-focused Layer 1 blockchain, aiming to optimize performance, compliance, security, and simplicity in payment transactions. The company, led by former CEO Brian Shroder, has successfully raised $20 million in a seed funding round to support its development. The funding round included participation from notable investors such as Kraken Ventures and Kucoin Ventures. 1MoneyNetwork intends to provide instant transactions and multicurrency support, positioning itself to compete against established players like Tether and Circle, which currently hold a combined market value of $214 billion.
>: We are happy to announce that we closed a $2M investment round lead by @DWFLabs @PanteraCapital @cbventures to continue the development of our creation hub made by builders for builders. >: Our ecosystem is growing and now we have the money to make it to the next level $block https://t.co/ufTxw8ilFr
US fintech startup raises $20m for stablecoin payments https://t.co/qMxmiKAC3E
⚖️ @1MoneyNetwork raised $20 million to build a blockchain that's dedicated to stablecoin payments. The seed round had a dozen participants, including @KrakenVentures and @KucoinVentures Read more here: https://t.co/NBS6YHu3lx