The former CEO of Binance.US has officially launched a zero-fee stablecoin orchestration platform under a new venture, 1Money. The new player has entered the crypto-pegged asset space, intending to slash the transaction costs that many users have long complained about.
This development is part of the firm’s plan to establish a layer-1 blockchain centered on payments. The project is led by Brian Shroder, who previously served as CEO of Binance.US from 2021 until 2023. In January 2025, Shroder and its co-founders secured more than $20 million in seed funding to develop the platform.
According to a Thursday announcement, 1Money announced that its eponymous platform will feature “zero platform fees,” charging only usage-based fees for stablecoin and fiat transactions. The company stated that the service will operate on 1Money’s upcoming layer-1 network for stablecoin payments, with no gas fees. This is because it is designed to impose fees depending on transaction usage with stablecoins and fiat currency, according to the company’s statement.
To further illustrate its commitment to supporting the development of the crypto industry, 1Money hinted that it will continue to embrace this move on its layer-1 network for stablecoin payments. According to this project, there will be no gas fees.
1Money Seeks to Put an End to Excessive Fees in the Crypto Industry
Following 1Money’s significant move, Brian Shroder, the co-founder and CEO of 1Money, stated that, “For far too long, traditional stablecoin service providers have held back the ecosystem with extremely high monthly minimums and excessive fees. 1Money is putting an end to that.”
As a former CEO of Binance.US, Shroder acknowledged that the crypto platform differs from the global cryptocurrency exchange. He noted that he began playing his role at the crypto-pegged assets-focused firm 1Money in 2024, following his departure from Binance.US in September 2023. By January 2025, the company announced $20 million in seed funding.
This announcement was released three months after 1Money publicly stated that it had successfully acquired 34 money transmitter licenses, allowing it to operate throughout the US.
To remain competitive in the industry, the orchestration platform seeks to broaden its services. Currently, it aims to expand its reach by providing “regulated custody” services for stablecoins and infrastructure.
This decision demonstrates a growing trend among fintech companies. According to sources, several fintech firms have made it clear that they intend to explore the stablecoin market. This comes at a time when both the US and the European Union are progressing with crypto-friendly regulations. An example of these firms is payments provider Unlimit, which released a statement on Tuesday, December 2, revealing a new non-custodial platform specifically designed for stablecoins.
Moreover, reports indicated that two leading payment firms, Visa and Mastercard, began backing stablecoins in October and November, respectively.
In August, Ripple Labs announced plans to offer stablecoins payment services after acquiring Rail for $200 million. In 2024, the Fintech company introduced its own stablecoin known as RLUSD.
IMF Releases Guideline to Ease Tension Among Crypto Investors
As stablecoins become increasingly popular among individuals, concerns about the risks associated with cryptocurrencies are raising tension in the ecosystem. This situation prompted the International Monetary Fund (IMF) to take the necessary action to ease this tension.
In a detailed report, the agency outlined how the expanding crypto-pegged asset market can impact the economy. It also provided suggestions on whether the current global rules are sufficient to handle the risks associated with cryptocurrencies.
The title of this report was “Understanding Stablecoins.” During its release this week, the IMF elaborated on how various regions, including the United States, the United Kingdom, Japan, and the European Union, have established regulations for stablecoins.
It also indicated that new rules are useful in lowering risks to overall financial stability. However, following the current circumstances, analysts expressed that the situation is “fragmented.” This means that policymakers are applying different approaches, and there are various ways to issue a crypto-pegged asset.
“The rise of new stablecoins across multiple blockchains and exchanges creates worries about inefficiencies because they may not work well together,” said the IMF. “Additionally, this can lead to differences and challenges among countries because of varying regulations and transaction obstacles.”