1Money, a company co-founded by the former head of Binance.US, has unveiled a stablecoin management platform as part of its ambitions to establish a layer-1 blockchain aimed at facilitating payments. Announced on Thursday, the 1Money platform will operate without platform fees, instead implementing a model based on usage fees for transactions involving both stablecoins and traditional currencies. The company stated that this approach will extend to 1Money’s planned layer-1 network for stablecoin transactions, which promises no gas fees.
"For too long, outdated stablecoin service providers have hampered the ecosystem with excessively high monthly fees and inflated charges. 1Money is putting an end to that," said Brian Shroder, co-founder and CEO of 1Money and former CEO of Binance.US. Shroder served as the CEO of Binance.US—an independent entity from the global crypto exchange—from 2021 to 2023. He went on to launch 1Money in 2024, announcing a seed funding round of $20 million in January 2025.
This announcement follows 1Money’s recent acquisition of 34 money transmitter licenses across the United States, reported three months ago. As part of its offerings, the orchestration platform will deliver "regulated custody" for stablecoins alongside necessary infrastructure.
The adoption of stablecoins is gaining momentum, coinciding with regulatory advancements in the US and European Union. Shroder's announcement comes as numerous fintech firms have declared their intentions in the stablecoin market. Earlier this week, payments provider Unlimit revealed a new non-custodial platform for stablecoins. Additionally, Visa and Mastercard, two leading payments companies for fiat currencies, introduced support for stablecoins in October and November, respectively.
In a related development, Ripple Labs announced in August that it would begin offering stablecoin payment services following its $200 million acquisition of Rail. The company launched its RLUSD stablecoin in 2024.