Movement Pivots to Independent Layer 1 Focused on Emerging Markets Stablecoin Settlement on June 2

According to BlockBeats, on June 2, Movement rebranded from an Ethereum Layer 2 project to an independent Layer 1 blockchain. The project, led by new CEO Torab Torabi, now targets emerging markets stablecoin settlement infrastructure.

Move Industries announced it has secured regulated payment network access covering the U.S., Canada, and EU through partnerships with licensed remittance and e-money institutions. Current collaborators include stablecoin issuer Circle, wallet projects KAST and Sorted, and tokenization platforms Oro, Yuzu Money, and Zoth. Avant Protocol selected Movement Network as its infrastructure platform for yield and fund management products.