Stablecoin payments network 1Money Co. announced Monday a slate of new hires with backgrounds in digital assets to lead its team prior to launch.
Stablecoins are slated to be first on the docket for
1Money is launching in the second quarter of 2025 what it says is the world's first Layer 1 payments network solely for stablecoins. The network, co-founded by CEO Brian Shroder, was designed for stablecoin transactions and promises secure payments, low fees and a compliance-first approach. Previously, Shroder was president and chief executive officer of Binance.US. Under his watch, Binance.US raised more than $250 million in outside capital and grew to accommodate more than $250 billion in trading volume, serving more than 8 million customers. Before that he was an executive at technology company Ant Group.
"We're witnessing a historic moment where stablecoins have become more than just a niche application," Shroder told American Banker. "They're rapidly transforming how global money flows, and 1Money is prepared to lead that transformation."
Co-founder Matthew Shroder is being brought on as president and chief operating officer. Shroder was previously the senior vice president of global operations and expansion at Binance, the world's largest crypto exchange. Before that he was global head of product operations for ride-sharing at Uber, where he'd joined as an early hire.
Christopher Lalan will serve as chief legal officer. He has two decades of experience in both traditional finance and digital assets, most recently serving as deputy general council for crypto exchange OKX, where his focus was on global expansion and regulation. Before that, Lalan was head of the products and regulatory team at Circle.
Kristen Hecht, who has served in several executive roles in the digital asset space, will join as chief compliance officer. She joins from Binance where she was the deputy chief compliance officer. Hecht previously was chief compliance officer at Meta's (then-Facebook's) Novil digital asset wallet for the Diem blockchain as well as global head of compliance programs at distributed ledger technology provider Paxos.
Brian Enclade, former chief information security officer at Ripple, will join as CISO. Enclade also has more than two decades of experience in cybersecurity, more recently specializing in blockchain resiliency.
"1Money has assembled a world-class leadership team with unparalleled experience in fintech, blockchain, payments, and compliance," CEO Shroder said in a statement. "Together, this highly skilled leadership team will be the driving force behind 1Money's mission to revolutionize the payments industry, leveraging their expertise, unique perspectives, and track records of success to create a robust, trusted, secure and efficient network for stablecoin transactions."
1Money's patent-pending Byzantine Consistent Broadcast platform allows for instant transaction confirmations with users able to send and receive stablecoins in less than a second, and current capacity for processing over 250,000 transactions per second. 1Money can accommodate stablecoins across multiple fiat currencies and aims to be the go-to transaction platform for global stablecoin payments.
In January, 1Money announced it had raised $20 million in funding from more than a dozen participants including F-Prime Capital, Galaxy Ventures, Kraken Ventures, Bankless Ventures, Hack VC, Tribe Capital, CMT Digital and MoonPay Ventures.
Stablecoins are a "week one priority" for the Trump administration, according to White House Crypto Czar
