Based on a report published on Thursday by the Wall Street Journal, Brian Shroder’s newly established company, 1Money, has managed to raise a total of $20 million in investments.
The funding came from Tribe Capital, Galaxy Ventures, and other participants.
In 2021, Shroder led the American branch of the worldwide financial exchange titan. After two years in charge, he left the company in September 2023 during a dispute with the U.S. Securities and Exchange Commission.
After that, there was no activity on his social media accounts for over a year. Later, he finally declared the funding on Thursday of this week.
The financial aid will enable the new business to initiate their independent stablecoin network. They anticipate it becoming operational by the end of this year.
As a potential crypto investor, I’m excited about the upcoming network, which is billed as the initial layer-1 protocol tailored expressly for swift and secure stablecoin transactions. Unlike other networks, it won’t be issuing its own native digital currency.
Shroder shared with the WSJ his excitement about finding innovative ways to address current payment issues, which ultimately led him to establish a brand-new startup.
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2025-01-16 22:11