PANews reported on January 15 that according to The Block, crypto startup 1Money has completed a $20 million seed round of financing to build the Layer1 network "1Money Network" designed for stablecoin payments. There are more than a dozen participants in this round of financing, including F-Prime Capital, Galaxy Ventures, Hack VC, Kraken Ventures, MoonPay Ventures and Bankless Ventures.

“1Money will make stablecoin payments more convenient and practical for everyday use cases, from paying friends to making e-commerce purchases and remittances,” the startup’s co-founder and CEO Brian Shroder said in a statement.