Key facts
- Movement gained access to licensed payment rails in the US, Canada, and EU.
- The company aims to connect licensed payment infrastructure with onchain settlement systems.
- Movement is targeting remittances, treasury services, and savings products for underserved markets.
- A token buyback of approximately 19% of tokens allocated to backers was conducted.
- Circle's USDCx has launched on the network as a stablecoin backed by native USDC.
Movement has expanded its reach by securing access to licensed payment rails across the United States, Canada, and the European Union. This strategic move is designed to bolster its offerings in stablecoin settlement, remittances, and dollar savings products, with a particular focus on emerging markets where traditional payment systems are often slow and costly. The company intends to bridge licensed financial infrastructure with onchain settlement systems to facilitate faster and cheaper cross-border transactions. To underscore its commitment to token holders and its new payment infrastructure focus, Movement Network Foundation repurchased a significant portion of its tokens. The company also highlighted partnerships, including KAST's user growth and the launch of Circle's USDCx on its network, positioning stablecoins as core infrastructure for financial services.