Former Binance US CEO launches stablecoin platform to pave the way for L1 payment blockchain

Former Binance US CEO Brian Shroder's co-founded company 1Money has announced the launch of a stablecoin orchestration platform, paving the way for its planned Layer 1 payment blockchain.

The platform adopts a zero platform fee model, charging only usage-based fees for stablecoin and fiat transactions. Shroder stated that the era of traditional stablecoin service providers charging high monthly fees and commissions is over. Future L1 networks will enable zero gas fee payments.

Shroder served as CEO of Binance.US from 2021 to 2023, founded 1Money in 2024, and secured $20 million in seed funding this January. Three months ago, the company obtained 34 money transmission licenses in the U.S., and the platform will offer regulated stablecoin custody services.