💸 Movement pivots from Ethereum L2 to launch as a Layer 1 focused on payments and remittances with stablecoins @movement_xyz announced one of the most ambitious strategic shifts in the blockchain sector this year: abandoning its previous Ethereum Layer 2 model to relaunch as a sovereign Layer 1 dedicated entirely to payments, remittances, and fintech adoption using stablecoins. The network will now be led by Move Industries, the new entity responsible for its development and regulatory expansion. Key changes in the relaunch Move Industries obtained payment system licenses in the U.S., Canada, and the European Union Circle launched USDCx as a native stablecoin on Movement Integrated wallets such as KAST and Sorted, along with tokenization projects including Oro, Yuzu Money, and Zoth Avant protocol incorporated for yield and treasury products The Movement Network Foundation repurchased 19% of tokens allocated to investors, representing 4.1% of the total supply The new architecture delivers settlement times under 500 milliseconds and eliminates several external dependencies present during its Ethereum L2 stage. Focus on remittances and emerging markets Torab Torabi, head of Move Industries, summarized the project’s new vision: “We are no longer a crypto company. We are a fintech leveraging blockchain rails.” The main goal is to capture a share of the global remittance market, valued at approximately $685 billion, with a focus on low- and middle-income countries. The company has already held discussions with Ethiopian authorities to explore nationwide adoption. Why it matters The relaunch positions Movement as a blockchain infrastructure for real-world use rather than purely speculative activity. The combination of native stablecoins, regulatory licenses, and payment tools aims to bring blockchain to millions of users beyond traditional markets. After a complex 2025 and leaving its Ethereum L2 focus behind, Movement seeks to completely redefine its narrative as a global fintech platform built on blockchain technology. ⚠️ Disclaimer: This content is based on official announcements from Movement and Move Industries. It is for informational purposes only and should not be considered financial, legal, or investment advice. Always conduct your own research before making decisions involving cryptocurrencies or digital assets.