1Money is building a payments network exclusively designed for stablecoin transactions, focusing on delivering a superior user experience. This network provides instant transaction confirmation, fixed low fees paid in the stablecoin used, and native support for multiple fiat-backed currencies. It is designed for seamless interoperability with existing blockchains and wallets while maintaining high security and compliance standards.
Funding
$20M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Existing blockchain networks often suffer from slow transaction speeds, high fees, and network congestion, making them unsuitable for mainstream stablecoin payments. Smart contract vulnerabilities and a lack of native compliance features also pose significant risks.
Solution
1Money Network is a layer-1 payments network designed exclusively for stablecoin transactions, providing instant payment finality and fixed fees paid in the stablecoin being used. The network's patent-pending Byzantine Consistent Broadcast (BCB) protocol enables transaction speeds of under 1 second and supports over 250,000 transactions per second (TPS). Unlike other protocols, 1Money Network does not support smart contracts, eliminating smart contract exploits and vulnerabilities. Native, built-in compliance features automate sanctions blocking controls and ensure network integrity. The network is designed to be interoperable with other blockchains and wallets, facilitating seamless movement of stablecoins.
Target Audience
The primary target audience includes individuals and businesses seeking a fast, secure, and compliant solution for stablecoin payments, as well as developers looking to integrate stablecoin payments into their applications.
Features
- Patent-pending Byzantine Consistent Broadcast (BCB) protocol for sub-second transaction confirmation
- Support for over 250,000 transactions per second (TPS) with near-infinite scalability through node-level horizontal sharding
- Deterministic Byzantine Fault Tolerant (DBFT) design for enhanced security against hacks and double-spending
- Native, built-in compliance features for automated sanctions blocking and AML/KYC compliance
- Fixed transaction fees paid in the stablecoin being used
- Native multicurrency support for various stablecoin tokens across different fiat currencies
- Interoperability with other blockchains and self-managed cryptocurrency wallets like MetaMask and Phantom