BVNK launches Layer1 to simplify stablecoin payments for businesses

Share This Post

Stablecoin payment platform BVNK has introduced Layer1, a self-custody digital asset infrastructure, according to a June 27 statement shared with CryptoSlate.

This platform helps businesses launch stablecoin payments quickly and securely, ensuring control and privacy over their digital assets.

Layer1

BVNK aims to streamline blockchain payments through its Layer1 solution. This initiative tackles infrastructure challenges, enabling businesses to quickly implement digital asset payments globally, even without extensive technical knowledge.

Layer1 specifically targets critical issues in current digital asset solutions. It accelerates time to market, provides blockchain abstraction, enhances data privacy and control, and integrates with existing systems.

Some of the solution’s automated functionalities include wallet creation, reconciliation, asset management, and integration with third-party services. It also supports automated consolidation, multi-venue trading, and comprehensive treasury management.

BVNK CTO and co-founder Donald Jackson said the product was designed to meet the increasing demand for blockchain products. He stated:

“Layer1 is the culmination of our learnings and it means that other businesses can launch digital asset payments without needing to be blockchain experts, to know how this or that network behaves, or when the next hard fork is coming – and without needing to deploy an entire engineering team to develop software for two years.”

Stablecoin payments

Layer1’s debut arrives amid robust expansion in the stablecoin sector. Between 2019 and 2023, annual stablecoin transactions surged 18-fold, reaching approximately $7 billion.

During this period, stablecoin holders peaked at 100 million, with the total market capitalization of assets in the sector reaching $160 billion, mostly made up of USDT. The industry has also attracted strong interest from traditional financial payment institutions like Visa and PayPal.

Jesse Hemson-Struthers, BVNK CEO, highlighted this rising appetite among various entities—from major financial institutions to trading firms and crypto enterprises—for self-hosted solutions in response to this growth.

He said:

“With Layer1, we’ve built a product that allows these firms to access core stablecoin payments infrastructure, so they can spend their time instead on building differentiated products.”

The post BVNK launches Layer1 to simplify stablecoin payments for businesses appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

TON Price Jumps 20% Following Positive News On Telegram Founder

The TON price has reclaimed the $3 mark with an over 20% spurt on Saturday, March 15 This price spike was triggered by the news of a French court approving the departure of Telegram founder Pavel

Best Presales to Explode After Trump’s WLFI Ends $590M Token Sale

Trump-backed crypto investment firm World Liberty Financial has raised $590M in the $WLFI token sale The total token supply is capped at 100 billion Out of this, 20% of the tokens (20 billion) were

Thailand seizes 63 illegal crypto mining rigs that stole over $327k in electricity

Officials of Thailand’s Central Investigation Bureau (CIB) seized 63 illegal crypto mining machines on Friday, according to a report by The Nation The illegal crypto mining rigs, worth around 2

72% of Cryptos in the Red as Bitcoin and Ether Struggle

On Sunday, the global cryptocurrency market experienced a 202% decline, settling at $269 trillion as bitcoin, ether, and several leading digital assets posted losses Bitcoin dipped below the $83,000

MoonPay’s Expansion Continues: Acquires Iron, Paving the Way for Solaxy

MoonPay, the crypto fintech giant known for its aggressive expansion strategy, is at it again  This time, the company has acquired Ironxyz, a stablecoin infrastructure platform, in yet another move

Is Kim Jong Stacking Sats? North Korea’s Bitcoin Haul Outranks El Salvador, Bhutan as US SBR Takes Shape

As the US gears up to launch a Strategic Bitcoin Reserve (SBR), spurred by President Trump’s Executive Order, North Korea has slyly vaulted into the top three global holders of bitcoin This