Abu Dhabi - Sharikat Mubasher: Hub71 startup 1Money, the developer of the world’s first Layer 1 protocol purpose-built for Web3 payments, obtained several financial licenses across multiple jurisdictions, including over 30 Money Transmitter Licenses (MTLs) in the US and a Class F Digital Asset Business license from the Bermuda Monetary Authority.

These licenses will enable 1Money to partner with Web3, fintech, and traditional financial firms in the MENA region to help them tap into USD fiat and stablecoin offerings utilizing 1Money’s US licenses, the company announced in a recent statement.

1Money can now launch global stablecoin orchestration services, providing a secure and compliant bridge between its next-generation blockchain, the 1Money Network, and the traditional financial system.

This milestone positions 1Money to deliver a full-stack stablecoin infrastructure offering, including deploying its Layer 1 protocol through a separate entity, stablecoin orchestration services, and a comprehensive suite of compliant fiat solutions.

Brian Shroder, Co-founder and CEO of 1Money, commented: “Securing over 30 U.S. MTLs and the Bermuda BMA Class F license is the linchpin of our commitment to providing secure, compliant, and scalable stablecoin solutions to businesses worldwide. These milestones enable us to orchestrate stablecoin flows across both traditional rails and emerging blockchain infrastructure, bringing a new level of interoperability, trust, and compliance to the digital payments landscape.”

1Money aims to revolutionize global finance by providing a superior digital asset payment experience for users worldwide. Its platform eliminates the need for speculative assets or complex tokenomics, with network fees paid directly in the stablecoin being transacted.