1Money, a Hub71 startup and the company behind the world’s first Layer 1 protocol purpose-built for Web3 payments, has secured a comprehensive suite of financial licenses across multiple jurisdictions, including over 30 Money Transmitter Licenses (MTLs) in the United States and a Class F Digital Asset Business license from the Bermuda Monetary Authority.
By the Numbers
The new licenses provide 1Money with a robust regulatory foundation to scale its operations globally:
- 30+: The number of Money Transmitter Licenses (MTLs) secured in the United States.
- Class F License: The Digital Asset Business license obtained from the Bermuda Monetary Authority.
- ~40 U.S. Jurisdictions: The number of U.S. jurisdictions where 1Money is now authorized to provide money movement services.
A Secure and Compliant Bridge Between Web3 and Traditional Finance
This landmark achievement permits the company to launch global “stablecoin orchestration services,” providing a secure and compliant bridge between its next-generation blockchain (the 1Money Network) and the traditional financial system. With these licenses, 1Money can now partner with Web3, FinTech, and traditional financial firms in the MENA region to allow them to tap into USD fiat and stablecoin offerings utilizing 1Money’s U.S. licenses.
“Securing over 30 U.S. MTLs and the Bermuda BMA Class F license is the linchpin of our commitment to providing secure, compliant, and scalable stablecoin solutions to businesses worldwide,” said Brian Shroder, Co-Founder and CEO of 1Money.
A Full-Stack Stablecoin Infrastructure
By combining its regulated money services business with its 1Money Network protocol, 1Money is uniquely positioned to provide a full suite of services to stablecoin and Real World Asset (RWA) issuers. This will allow them to mint on the 1Money Network, connect their digital assets to the traditional banking system, and provide compliant distribution channels for offering their assets globally.
“Our team has worked diligently to build a robust legal and compliance framework that meets the stringent requirements of regulators in the U.S. and Bermuda,” said Christopher Lalan, Chief Legal Officer at 1Money. “This achievement reflects our commitment to globally align with esteemed regulatory regimes”.
Source: Zawya
