TechFlow reported on January 15 that, according to The Block, stablecoin payment infrastructure project 1Money announced a $20 million seed funding round. Investors include F-Prime Capital, Galaxy Ventures, Hack VC, Kraken Ventures, MoonPay Ventures, Bankless Ventures, and more than ten other institutions.
The project plans to launch a Layer 1 network called "1Money Network," specifically designed for stablecoin payments. It features a patented Byzantine Consistent Broadcast (BCB) design aimed at addressing issues of latency, fee volatility, and security. Brian Shroder, co-founder and CEO of the project, said that 1Money will make stablecoin payments easier for everyday use, with applications including peer-to-peer transfers, e-commerce payments, and cross-border remittances.
