Movement pivots from layer-2 interoperability to stablecoin payments for emerging markets
By
Margaux Nijkerk
Crisped on the outside, thoughtful enough on the inside.
Summary
Movement, a blockchain project originally focused on linking Move-based blockchains with Ethereum, is pivoting toward stablecoin-based cross-border payments and remittances. The company has secured licensed payment access in the U.S., Canada, and the EU, targeting the $685 billion remittance market in emerging economies. This shift reflects a broader trend of layer-2 projects reassessing their strategies as the layer-2 boom loses momentum.
Key quotes
· 3 pulledMovement, a project originally designed to link blockchains built using the Move programming language with Ethereum, is pivoting toward cross-border payments, remittances and dollar savings products
The company behind the blockchain said Tuesday that it had secured access to licensed payment systems in the U.S., Canada and European Union, and would focus on building stablecoin-based settlement infrastructure for emerging markets
The direction change comes as a number of layer-2 projects reassess their original scaling strategies
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