BVNK launches Layer1 to simplify stablecoin payments for businesses

Stablecoin outgo level BVNK has introduced Layer1, a self-custody integer plus infrastructure, according to a June 27 connection shared with CryptoSlate.

This level helps businesses motorboat stablecoin payments rapidly and securely, ensuring power and privateness implicit their integer assets.

Layer1

BVNK aims to streamline blockchain payments done its Layer1 solution. This inaugural tackles infrastructure challenges, enabling businesses to rapidly instrumentality integer plus payments globally, adjacent without extended method knowledge.

Layer1 specifically targets captious issues successful existent integer plus solutions. It accelerates clip to market, provides blockchain abstraction, enhances information privateness and control, and integrates with existing systems.

Some of the solution’s automated functionalities see wallet creation, reconciliation, plus management, and integration with third-party services. It besides supports automated consolidation, multi-venue trading, and broad treasury management.

BVNK CTO and co-founder Donald Jackson said the merchandise was designed to conscionable the expanding request for blockchain products. He stated:

“Layer1 is the culmination of our learnings and it means that different businesses tin motorboat integer plus payments without needing to beryllium blockchain experts, to cognize however this oregon that web behaves, oregon erstwhile the adjacent hard fork is coming – and without needing to deploy an full engineering squad to make bundle for 2 years.”

Stablecoin payments

Layer1’s debut arrives amid robust enlargement successful the stablecoin sector. Between 2019 and 2023, yearly stablecoin transactions surged 18-fold, reaching astir $7 billion.

During this period, stablecoin holders peaked astatine 100 million, with the full marketplace capitalization of assets successful the assemblage reaching $160 billion, mostly made up of USDT. The manufacture has besides attracted strong interest from accepted fiscal outgo institutions similar Visa and PayPal.

Jesse Hemson-Struthers, BVNK CEO, highlighted this rising appetite among assorted entities—from large fiscal institutions to trading firms and crypto enterprises—for self-hosted solutions successful effect to this growth.

He said:

“With Layer1, we’ve built a merchandise that allows these firms to entree halfway stablecoin payments infrastructure, truthful they tin walk their clip alternatively connected gathering differentiated products.”

The station BVNK launches Layer1 to simplify stablecoin payments for businesses appeared archetypal connected CryptoSlate.