Former Binance.US chief raises $20M for stablecoin network
The stablecoin market, which is dominated by Tether and Circle, is worth more than $214 billion.
Layer-1 stablecoin payments network 1Money has raised more than $20 million in seed funding to further develop its digital payments infrastructure.
According to a Jan. 16 announcement, more than two dozen venture capital firms participated in the seed round, including F-Prime Capital, Galaxy Ventures, Hack VC, Tribe Capital, Kraken Ventures, KuCoin Ventures, BitGo Ventures, Bankless Ventures, MoonPay Ventures, Portage and Ethereal Ventures.
1Money said its protocol is developed solely for stablecoin payments using a patent-pending Byzantine consistent broadcast design.
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Author: Sam Bourgi
