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Brian Shroder's 1Money Aims to Revolutionize Stablecoin Network with $20 Million Funding
ByAinvest
Thursday, Jan 16, 2025 2:06 pm ET1min read
Former Binance.US CEO Brian Shroder has launched 1Money with $20 million in funding from Tribe Capital and Galaxy Ventures. The new venture aims to create a stablecoin network for fast payments, addressing prevalent payment issues. Shroder's innovative vision prioritizes transaction speed and efficiency, setting 1Money apart in the increasingly saturated market. The funding round reflects growing investor confidence in secure and scalable cryptocurrency models.
In a recent development, former Binance.US CEO Brian Shroder has announced the launch of 1Money, a new venture aimed at creating a stablecoin network for fast payments. The company has secured $20 million in funding from Tribe Capital and Galaxy Ventures [1].Shroder's innovative vision for 1Money prioritizes transaction speed and efficiency, addressing the prevalent payment issues faced by many individuals and businesses. With the increasing popularity of cryptocurrencies and the need for secure and scalable models, investor confidence in the sector is on the rise [1].
The funding round for 1Money reflects this growing confidence, with Tribe Capital and Galaxy Ventures recognizing the potential of Shroder's vision. Tribe Capital is a leading venture capital firm that has previously invested in successful companies such as Stripe, Instacart, and The Trade Desk [2]. Galaxy Ventures, on the other hand, is a global venture capital firm that has a strong focus on blockchain and cryptocurrency investments [3].
Shroder's departure from Binance.US in September 2021 was unexpected, with the company going through a round of layoffs at the same time [1]. Despite this, Shroder has remained active in the industry and is now using his expertise to create a new venture that addresses the needs of consumers and businesses.
The cryptocurrency market has faced its fair share of challenges in recent years, with regulatory issues, negative news, and market volatility all contributing to uncertainty. However, with the launch of innovative new ventures like 1Money, the future of the industry looks promising [1].
References:
[1] Decrypt. (2022, January 12). Binance US President and CEO Brian Shroder Resigns Amid Layoffs. https://decrypt.co/156150/binance-us-ceo-brian-shroder-steps-down-amid-layoffs-bloomberg
[2] Tribe Capital. (n.d.). About Us. https://tribecap.com/about
[3] Galaxy Ventures. (n.d.). About Us. https://galaxy.vc/about/
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