Stablecoin Startup 1Money Gains 34 US Licenses

1Money, a company building a layer-1 blockchain for stablecoin payments, has secured 34 US money transmitter licenses and a Class F digital asset business license from the Bermuda Monetary Authority.

According to a Thursday announcement, the company plans to launch global “stablecoin orchestration services” through its regulated entities. It aims to provide stablecoin infrastructure, including a dedicated layer-1 protocol, orchestration services and a full suite of compliant fiat solutions.

1Money says its regulated footprint enables it to support both stablecoin and real-world asset (RWA) issuers. Its customers would be allowed to mint stablecoins and RWA tokens and connect them with the traditional banking system.

1Money co-founder and CEO Brian Shroder explained that the licenses enable the company to “orchestrate stablecoin flows across both traditional rails and emerging blockchain infrastructure.”

Related: PayPal just enabled crypto for 650M users: Here’s what that actually means

Stablecoin payments are on the rise

This summer, a slew of news indicated that stablecoins are garnering increasing interest. Late May data shows that stablecoins are gaining ground as a reliable tool for digital payments, with $94.2 billion in settled in stablecoin transactions between January 2023 and February 2025.

A mid-May survey of 295 executives across traditional banks, financial institutions, fintech companies and payment gateways showed that 90% of institutional players are either already using stablecoins or actively exploring them. In August, global grocery giant Spar announced support for stablecoin and cryptocurrency payments in its stores across Switzerland.

Related: ECB president calls to address risks from non-EU stablecoins

Traditional payment processors join in

In June, e-commerce giant Shopify rolled out early access to stablecoin payments in Circle’s USDC in collaboration with Coinbase. Two months ago, Visa expanded its stablecoin offerings on its settlement platform by adding support for the Global dollar (USDG), PayPal USD (PYUSD) and euro Coin (EURC) stablecoins.

Mastercard was not left out. Circle, the company behind the USDC (USDC) stablecoin, unveiled deals with Mastercard and Finastra, aiming to expand USDC’s reach to merchants and banks globally. In May, Stripe introduced stablecoin-based accounts to clients in over 100 countries.