Former Binance.US CEO launches stablecoin platform ahead of L1 network

1Money, a company co-founded by the former CEO of Binance.US, has launched a stablecoin orchestration platform ahead of its plans to build a layer-1 blockchain for payments.

In a Thursday announcement, 1Money said the platform by the same name will have “zero platform fees,” opting instead for usage-based fees for transactions involving stablecoins and fiat. According to the company, the initiative will continue on 1Money’s layer-1 network for stablecoin payments, offering no gas fees.

“For too long, legacy stablecoin service providers have held the ecosystem back with outrageously high monthly minimums and bloated fees, 1Money is ending that era,” said Brian Shroder, 1Money co-founder and CEO and former CEO of Binance.US.

Source: Brian Shroder

Shroder was the CEO of Binance.US, a separate legal entity from the global cryptocurrency exchange, from 2021 to 2023. He launched the stablecoin-focused platform 1Money in 2024, announcing $20 million in seed funding in January 2025.

The announcement came about three months after 1Money reported securing 34 money transmitter licenses in the US. Among its services, the orchestration platform will provide “regulated custody” for stablecoins and infrastructure.

Stablecoin adoption is accelerating

Shroder’s announcement followed many fintech companies announcing plans in the stablecoin sector as regulations advance in the US and European Union.

On Tuesday, payments provider Unlimit announced the launch of a non-custodial platform for stablecoins. Visa and Mastercard, two of the biggest payments companies for fiat currencies, rolled out support for stablecoins in October and November, respectively.

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Ripple Labs said in August that it would offer stablecoin payment services through its acquisition of Rail for $200 million. The company introduced its own RLUSD stablecoin in 2024.

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