PANews reported on December 5th that, according to Cryptopolitan, former Binance.US CEO Brian Shroder has officially launched a zero-fee stablecoin coordination platform under his new company, 1Money, as part of the company's plan to build a Layer-1 network around payments. 1Money announced that its namesake stablecoin platform will operate on a "zero platform fee" policy, charging only usage-based fees for stablecoin and fiat currency transactions. The service will run on 1Money's upcoming stablecoin payment Layer-1 network and will not incur gas fees.

In January, it was reported that crypto startup 1Money had completed a $20 million seed funding round, with participation from Hack VC and others.