Layer-1 stablecoin payments network 1Money has raised over $20 million in seed funding to advance its digital payments platform.
Announced on Jan. 16, the funding round saw participation from over 24 venture capital firms, including F-Prime Capital, Galaxy Ventures, Hack VC, Kraken Ventures, and KuCoin Ventures.
1Money’s protocol is built exclusively for stablecoin payments, using a patent-pending Byzantine consistent broadcast systеm.
CEO Brian Shroder called stablecoins the “foundation for a modern global financial systеm” connecting Web3 with mainstream users. Shroder previously served as Binance.US CEO from August 2021 to September 2023.
The 1Money Network aims to offer instant transactions, fixed costs, and multicurrency support, letting users pay fees directly in their chosen stablecoin without managing gas tokens.
